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Why Leaders Won't Share: Implications for Leadership Development Continuity
 

Why Leaders Won't Share: Implications for Leadership Development Continuity

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Results of survey conducted with 100 Canadian business leaders regarding the reluctance of senior leaders to develop the next generation of leaders.

Results of survey conducted with 100 Canadian business leaders regarding the reluctance of senior leaders to develop the next generation of leaders.

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    Why Leaders Won't Share: Implications for Leadership Development Continuity Why Leaders Won't Share: Implications for Leadership Development Continuity Presentation Transcript

    • Why Leaders Won’tShare BM2B - Matching Talent to Need The implications for leadership development continuityWhite paper and infographic available at www.bm2b.ca 1
    • The IssueBy 2020, there will be five (5) generational cohorts in theworkplace, fifty percent (50%) of the boomer cohort willhave retired from full time employment yet less than BM2B - Matching Talent to Needtwenty percent (20%) of our organizations will havedeveloped strategies about how to address this situation.Unfortunately, the math does not work.From Why Leaders Won’t Share: Implications for Leadership Development Continuity reportauthored by Donna Stevenson and Faye Wales, 2012. 2
    • Today (%) 4040 BM2B - Matching Talent to Need 25 3020 5 0 Traditionalists Boomers Gen X Gen Y 3
    • 60 40 20 0 1 22 20 50 7 2020 (%) BM2B - Matching Talent to Need4
    • The Challenge?Expertise and knowledge drain as boomers exitfrom the workforce. BM2B - Matching Talent to NeedHow do we ensure current senior leaders aredeveloping the next generation of leaders? 5
    • The SolutionKeep the expertise by transferring the knowledgeand skills. BM2B - Matching Talent to NeedMake leadership development continuity a keypart of the company culture. 6
    • Leadership Development Continuity1. Senior leaders assume accountability and responsibility for developing the next generation of leaders.2. Senior leaders know how to coach and mentor potential leaders. BM2B - Matching Talent to Need3. Identification of potential leaders is integral to the culture and an ongoing process.4. Building a leadership legacy is encouraged and celebrated so senior and future leaders are recognized and rewarded for participating in the leadership development continuity process. 7
    • 0 10 20 30 50 60 40Do not enjoy mentoring or coachingIf they share their knowledge, afraid they will no longer be required They believe no one needs their knowledge Not interested in giving their knowledge away knowledge, skills and expertise to future leaders Other Reasons why senior leaders will not transfer their Concerns of Senior Leaders BM2B - Matching Talent to Need 8
    • 0 10 20 30 40 50 70 80 60Organization sees skills transfer as a priorityThey will receive reward/recognition for doing it Skills transfer part of retirement planning They get satisfaction from teaching others and expertise to future leaders Reverse mentoring in place Other Reasons why senior leaders will transfer their knowledge, skills Motivators for Senior Leaders BM2B - Matching Talent to Need 9
    • Future Leaders’ Needs‘GenY have an insatiable need for development as well as ahigh requirement for coaching and mentoring. Early in theircareers, compensation and benefits are important along BM2B - Matching Talent to Needwith learning and development.’From a report titled GenerationY: Inside Out by S. Honore & Dr. Schofiled, Ashbridge Business School 10
    • What to do?• Skills transfer must be a priority – put in place a knowledge transfer process – a leadership legacy process• Assure senior leaders about continuity of employment and value associated with their longevity• Recognize, celebrate and reward leadership knowledge BM2B - Matching Talent to Need transfer• Train senior leaders how to coach and mentor future leaders• Implement socio-technical mentoring• Offer retirement planning (lifestyle and financial) to senior leaders• Provide future leaders with access to professional learning and development opportunities and career advancement. 11
    • What is the cost of ‘lost knowledge’? BM2B - Matching Talent to NeedConduct a risk assessment • Do your homework, identify what will be lost and effect on the business and bottom line • compare the costs to the benefits of implementing a leadership legacy process 12
    • This is your ‘Demographic gift’ - BM2B - Matching Talent to Need OPEN IT! 13
    • Why Leaders Won’t BM2B - Matching Talent to NeedShareThe implications for leadership developmentcontinuity 14