World_Report_on_HR_Challenges_2010

Condent about overcoming the unique hr challenges of

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Unformatted text preview: l want to challenge and periodically revise their assumptions about leadership styles and modes of interacting with people. They should also be willing to reframe their business paradigms on the basis of changing demands. ◊ Win and win. Leaders should broaden their view of what constitutes success, as success increasingly depends on cooperation with competitors, nongovernmental organizations, and regulators. These four compass points should inform every initiative that aims to develop leadership skills, from training to C P A mentoring to project assignments. Companies can offer a range of practices to help leaders think and behave consistently with these new imperatives. First, they should actively expand future leaders’ horizons. Promising early-career leaders can be immersed in unfamiliar regions, product lines, or customer segments. More experienced leaders can be assigned temporarily to important external initiatives concerning policy or trade. Second, they should lay down fast tracks that provide opportunities for high-potential employees to skip a rung. Migrating to new roles and new assignments benefits both young and later-stage leaders. Third, they should accelerate skill development, benchmarked against the top talent in key markets. Leading a peer group or a joint venture can provide a controlled experience in authority, monitored through regular reviews to explicitly mine the points that can be learned. Finally, companies should strive to inspire and retain their future leaders through opportunities to work on social causes that align with the business, through sabbaticals to pursue personal passions, or through challenging assignments that foster a sense of continuous learning and personal growth. 1. Roselinde Torres, “New Leadership Rules,” online article, The Boston Consulting Group, May 2010. Exhibit 8. Development Conversations and Plans Are Relatively Popular but Not Considered Very Effective Training actions performed (% of respondents) Effectiveness of each training action Technical and functional training 48 Regular development conversations and plans 47 On-the-job projects 44 40 Individual coaching 33 Internal executive-development programs Mentoring 30 Cross-functional assignments 30 International assignments 22 Tailored career tracks along functions, regions, positions 21 External assignments (such as joint ventures and NGOs) 8 Low High Sources: Proprietary Web survey with 5,561 responses; 1,089 responses in this section; BCG/WFPMA analysis. past performance and future objectives. Such initiatives clearly should be improved through more frequent conversations, additional 360-degree reviews, follow-up plans with a specific development agenda, and training sessions that explicitly connect to that agenda. In order to facilitate training, 22 percent of the respondents have launched a corporate university. These pro- grams typically aim to develop job skills, as reflected in the curriculum; courses on leadership be...
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