The following is a guest blog by my colleague, David Spader, which I’ve decided to run at this time because of its timeliness for those companies experiencing a leadership crisis that demographic changes predict will become much more significant. David is a leadership development consultant with Spader Business Management, a company with a proven track record of providing both financial and human performance guidance for a variety of industries for the past thirty years.
What happens when you don’t have a strong bench? The Indianapolis Colts just found out. Quarterback great Peyton Manning did not lead his team onto the field at the start of this season for the first time in 227 consecutive games. Apparently the coaches were caught off guard since nobody seems to have planned for this eventual likelihood. The Colts were left scrambling and had to bring 38-year-old Kerry Collins out of retirement and are already onto another quarterback! The result? The Colts are 0-4! Unfortunately, we see this same pattern played out every day in business.
"How strong is my bench?" It’s a question that every business leader should be asking. It is easy to miss during the day-to-day firefighting that engulfs most businesses. The result is that less than 15% of companies in North America believe they have the bench strength to fill key positions in the future. The actions you are taking today to nurture your futu
re leaders will: (1) determine how quickly and strongly they develop, (2) dramatically affect the growth of your business, and (3) significantly affect your succession planning process. Thus, given what you are doing today, how well are you growing your next level of leaders? STOP and seriously answer that question before going on.
One of the toughest questions when looking for the future leaders in your business is: "How do we determine which employees are best suited for leadership roles?" In order to better select those who have future potential we suggest evaluating them in 3 areas.
Selection Criteria #1 – Culture Fit
First, your future bench needs to demonstrate a strong culture fit. The people you select to strengthen your leadership bench should be inspiring models of alignment with the values that are critical to the success of your business. If they don’t model these behaviors now, what makes you think they will do so when they have more influence, power and control? Don’t think that promoting a high-producing salesperson who operates in gray areas of integrity will get better in a management position because they are good at hitting their numbers. Great individual performers are often not great leaders. As much as 70% of the environment and culture in your business is directly shaped by the actions of its leaders. Therefore, it’s critical that you build your bench with employees that are models of the values and behaviors that your company needs to survive and thrive in the future.
Selection Criteria #2 – Performance Fit
The second criteria for developing your bench is performance fit. This means having a system to ensure the employee has the right capabilities and motivations to perform at a high level. When considering performance fit, remember that the best predictor of future behavior is past behavior in similar situations. Is the person a team player even when they don’t directly benefit? Or, do they look out for #1, especially under stress or pressure? Are they someone who is open to new ways of doing things? Or does it always have to be their way?
One tool we often use when helping businesses is called the Talent Balance Sheet. It is created by assessing high potential employees through a series of capability and motivation assessments. This gives the business a balance sheet of the key motivations and capabilities needed to aid in deciding who to promote and develop. It also allows you to intentionally build your bench with complementary skill-sets. And, like a financial balance sheet, it also allows you to identify liabilities (gaps in needed capabilities).
Selection Criteria #3 – Satisfaction Fit
The last of the 3 criteria is satisfaction fit. This is a combination of personal preferences, values and work interests. Understanding this fit determines their longer-term motivation. A few important questions to determine satisfaction fit are: Will this person be truly passionate about their new role? Will they enjoy the new responsibilities of leadership more than the rights and authority it gives them? Will they be energized by the type of work they will be required to do on a daily basis? Again, the right assessment process can help determine this with up to 80% accuracy BEFORE putting a person into a position.
Putting the right people in the right seats is critical for both the organization and the fulfillment of its people. Organizations that use these 3 Fits can build a bench that will definitely be ready when the time comes. Remember, Tom Brady came off the bench early in the season to lead his team to the first of 3 Superbowl titles under his leadership. Do you have any people like that on your bench?
Feel free to contact David by email (ddspader@spader.com).
