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Ensuring a steady supply of future leaders across all levels and functions is vital to the ongoing success of all organizations.
This cross-industry online benchmarking exchange examines current practices and emerging trends in leadership development programs at small, medium and large companies across multiple industries. This research addresses how participants are selected, which activities are included in the program, what roles various individuals/groups including senior management play, and other key topics.
Capturing quantitative and qualitative data from 60 HR, training and leadership development exectutives, this research yields key insights into the successful management of leadership development programs for new hires and experienced staff. Executives and managers involved in training and development can use this study to build and to assess their leadership pipeline activities and development curricula.
NOTE: The data in this research are segmented into two groups: Small Companies and Large Companies.
- Leadership Development Program Types, Program Criteria and Activities
- Training Characteristics
- Management Roles
- Challenges and Opportunities
- Recent Changes and Future Trends in Leadership Development
- Types and Length of Leadership Development Programs
- Types of Leadership Development Program Activities
- Frequency, Length, Assignment Types of Rotational Programs
- Methods for Program Content Delivery
- Number of Program Participation and Participant Selection Criteria
- Maximum, Mininum and Median Values for Leadership Development Program Cost
- Budget Percentages for Online and Classroom Training
- Budget Percentages for In-housee and Third-party Training
- Challenges and Success Factors for Leadership Development
SAMPLE KEY FINDINGS
- Successful programs have a sound structure and senior leadership support; the biggest challenge is resource constraints.
- Leadership development programs for experienced hires are generally more formally structured compared to those for new hires. Most common activities include formal training, coaching and mentoring and offering special projects and exposure to senior executives.
- Rotational programs are offered mainly at larger companies. Smaller companies often do not have the budget for this.
- Companies stress the importance of senior management support for leadership development wherein there are clear roles for executives in designing, leading and teaching the program as well as selecting participants.
Best Practices, LLC used field surveys to complete this study on behalf of a Global Benchmarking Council partner. In all, 57 companies from mainly the financial services, health care, pharmaceutical, telecommunications, professional services, and manufacturing industries contributed to this study.