Preparing to be a Future Leader

One of the great contradictions in business today surrounds Future Leaders.

This opinion comes from these two commonly held and seemingly contradictory points of view:

“We want our young people to take an interest in the business, show some commitment and initiative, and go the extra mile for us. Now, we have this leadership vacancy but no one is ready?”

“My job is stale; I need a change of jobs every two years with a promotion and a pay rise. After all I want to be a CEO. I don’t think that I will be able to get all this here?”

In digging deeper there is less contradiction than one might think. Both parties rely on the success of the business and a willingness to engage their leadership talent.

In the context of this discussion I define “Future Leaders” as anyone within an organisation that has the potential, at some future point in time, to fill a senior leadership role within that organisation. Not everyone wants to be a Future Leader in their work life. Future Leaders are often, but not always, in a younger age bracket than the current leadership and Future Leaders may well come from outside the organisation. It is generally accepted that companies benefit by developing and appointing the majority of their leaders from within.

What can budding Future Leaders do?

Firstly, think about whether you like your company, its people (incl. current leaders), its culture & values, and whether or not you would like to be a leader in this company. If you like what you see, take the initiative! Here are some suggestions:

Understand your company’s vision and longer term business strategy. Review the company’s strategic plan; if you don’t have access just ask.
Understand what the current “big” issues are facing the company right now. Think big picture “whole of company” on this and not just about your immediate work environment.
Regardless of your position or role, go and talk to your Manager, CEO, and Directors and test your understanding of current and future issues against theirs. While you are at it, let your leaders know that you are interested in the success of the business because your future depends on it.
Work out ways that you can help the company deal with the current issues big and small. Look for opportunities to work on these and ignore anyone who tells you it’s not your concern.
Offer suggestions on business strategy with respect. Focus on developing your own leadership skills in your current work environment and start seeking opportunities in the areas the company is headed.
It doesn’t matter how good you are, don’t pass over offers from management for an equity stake or new challenges and dirty jobs, you need to demonstrate your commitment.
Participate in company and community sponsored leadership programs, training, employee recognition programs, and social events. Inject some positive energy into the workplace; everyone wants to enjoy the ride.
Develop your team and those around you, who will fill your job when you get the next opportunity?
Do all this on top of your day job. If you can’t do your day to day job well, then you won’t be considered for new career opportunities.
Keep in touch with your Manager, CEO, and Directors and their issues. What is your next opportunity to help?

Lastly, money generally follows Future Leaders and I suggest that knowing where you fit in the company salary range and discussing it with your Manager should be sufficient to ensure you are getting paid fairly for your contribution.

What should Managers, CEOs, and Directors do?

A 2005 Hewitt Top 25 Company survey found that one of the key enablers of building leadership quality and depth is the active involvement from the CEO and Board of Directors. Some suggestions:

Develop a system of actively managing identified Future Leaders including compensation, development, mentoring and access to your current leaders.
Hold your current leaders accountable for the success of leadership programs and retention of Future Leaders.
Make it easier for yourself by creating a workplace environment that encourages and supports your Future Leaders to proactively help themselves as noted above.

VSC Growth can help protect and grow the future potential of your business by helping develop Future Leaders. We can help you establish your own Future Leaders program, assess current leadership capacity and Future Leader potential, advise on leadership development programs, and provide mentoring and coaching. We are passionate about unlocking performance potential by fostering improved understanding and alignment of personal and business goals.

By Steve Coote, Director VSC Growth – February 2011