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Feet-to-the-Fire Executive Development
Companies need to have a systematic way to create top-level leaders.
Without an impetus to change and grow, most executives probably won’t. Designing a process that maximizes the probability of achieving these changes is of the utmost importance. Once they see the need, they’ll make the necessary changes to excel.
There is a lot of talk about executive development today. Whether the impetus comes from baby boomers retiring, talent shortages, mergers and acquisitions, the global marketplace or increased expectations of stakeholders, the bottom line is the same.
Companies need to have a systematic way to create top-level leaders. The term “executive development” is used to describe an array of actions and activities designed to accomplish that goal. As companies wrestle with the topic, it’s important to define what constitutes “top-level leaders.”
While many important qualities such as compassion, empathy, vision, strength and dedication come to mind, the real measure of a true leader is effectiveness. The most compassionate or visionary leaders will ultimately be disappointments if they’re not fully effective in carrying out their jobs.
Although executive development actions and activities always are aimed at increasing leadership acumen, they do so with varying degrees of success. The reality is that it can be extremely difficult to select which individuals to develop and then to choose the most appropriate approaches that will lead to improved performance.
Competency Models of Executive Leadership
Competency models of executive leadership tend to be heavily weighted on emotional intelligence quotient (EQ) factors, and rightly so. “Emotional intelligence” refers to the ability to perceive one’s own emotions and those of others, and to use those perceptions to guide one’s thinking and actions. As managers move upward along their career arcs toward senior manager or executive roles, EQ characteristics become increasingly predictive of their success.
Studies validate this finding. At PepsiCo, executives selected in a pilot project for their EQ competencies far outperformed their colleagues — delivering a 10 percent increase in productivity, 87 percent decrease in executive turnover, $3.75 million in added economic value and more than 1,000 percent ROI. In a study of one of the U.K.’s largest restaurant groups, evidence indicated emotionally intelligent leaders were more effective. Their restaurants outperformed others with increased guest satisfaction, lower employee turnover and 34 percent greater profit growth.
Microlearning — Size DOES Matter
June 20th 1:00pm - 2:00pm CT
2013 CLO Breakfast Club, Boston
September 12th - 12th, 2013The Westin Copley Place
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