The creation of leadership weighs heavily on the minds of top corporate executives. That’s not surprising given the structural changes we have seen in the economy and the increasingly global and virtual nature of the workplace. However, the ability of today’s leaders to engage the hearts and minds of people around the globe has difficult-especially in emerging economics, where plentiful job opportunities and rising salaries make it difficult to hold on to the best brightest employees.
Rising stars can emerge from anywhere so it’s important to identify and cultivate rising stars regardless of location create programs that provide your emerging leaders with enriching experience and be sure to connect them mentors who can give them the right guidance and global perspective. One approach is to bring together teams from different parts of the business to solve real-world problems –such as evaluating new markets or responding to changing demographics. You could even offer short-term focused opportunities to work in new markets or geographies, exposing people to new experience without the time and costs associated with long term expatriate programs.
Look for opportunities to spur creative approaches to leadership. you may want to try new ways to invite persuade and influence your employees to participate in decision making, using social media and other innovative communication channels. Be sure to think outside the firewall. It’s important for emerging leaders to gain insights and develop relationships with key stakeholders outside your organization, such as trade associates.
Treat leadership like an investment
Since there is no single solution to the counters of leadership development in an organization make sure your approach reflects your particular geographical mix of future business locations, employees and customers. Track the career and skills development of your workforce and continuously assess the progress of employees with leadership potential.
Taping into an organization’s creativity, flexibility and requires today’s leaders to solve old problems and capitalize on new possibilities. Focusing on developing the leaders of tomorrow is an investment that organizations can ill-afford to pass up.
Chairman and CEO Pakistan Guarantee Export Corporation Ltd.