Many studies document the Baby Boomer exodus from business and industry. Although some Boomers may be re-evaluating their time line based on economic changes, there is still no question that a high percentage of the 77.5 million Boomers will be exiting corporate America in the next five years. (Study conducted by AARP-2008) 56% of business and industries' Boomer population hold leadership positions. Conversely, there are only 46 million Gen X and Gen Y's to take the place of those vacating Boomers. These numbers reflect why business and industry need to be so concerned about brain drain and develop a strategy to combat it.

 

A recent report stated that 54% of companies surveyed said they did not have enough qualified candidates working for them to succeed their executives and managers and 14% weren't sure if they have enough leadership successors in place.  

 

The luxury of time is gone. Organizations of all sizes, public or private, should get prepared and begin implementing a leadership succession plan. Having prepared leaders at all levels of an organization is a management strategy and a competitive business advantage.   

 

Organizations achieve sustainability and growth through their leadership and the quality of that leadership. The important skills necessary to lead a company to succeed in the upcoming years will be different. In addition to being able to lead people, new leaders will need to plan strategically, inspire commitment, and manage unyielding change. However, to be an effective leader takes much more than skill. It also requires the appropriate attitudes and behaviors. There are many tactical skills of leadership, but without the appropriate attitudes and behaviors, the skills are almost meaningless. I've talked in a previous newsletter about how actions speak louder than words. It is difficult to inspire commitment in a team when the leader's body language, tone of voice, and behaviors reflect something entirely different. Managing change becomes very difficult if a leader's attitude is "this too shall pass." In order to manage unyielding change a leader needs to be aggressive, innovative, and responsive. And yes, it takes certain skills to be aggressive, innovative, and responsive, but success in these areas requires the right attitude equally as much as the right skills.

 

In working with clients to develop their leadership bench strength I have found the following formula works extremely well:

 

In order for your business to achieve Improved Results (IR) there needs to be Positive Behavior Change (PBC). I have found a successful way to achieve Positive Behavior Change (PBC) is by customizing a process unique to the client that addresses the needed Attitudes, Behaviors, and Skills (ASK) combined with a Goal Accomplishment (Goals) model that drives Positive Behavior Change (PBC) which leads to measurable and improved results.

As your organization develops future leaders for your organization, you need to ensure there is a solid base of leadership skill. What attitudes and behaviors do you want people in leadership roles to exhibit? What messages do you want them to send when they are not talking? What example do you want them to set when no one is officially watching? To identify a true leader, observe his/her behavior and attitude as it will tell you a great deal more than an evaluation of their skills.

 

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It is important for a leader to be a visionary because involving people in realizing a compelling vision provides a beacon for the future and a standard of excellence. Highly effective leaders also take on the role of being a coach. The leader as a coach reinforces the results they believe people are capable of achieving as winning depends on execution.

 

In addition to the roles of visionary and coach there are two additional roles that round out an exceptional leader: The role of mentor and the role of director.

 

The Leader as a Mentor

 

 

Establish an environment that encourages and rewards people to develop their skills, improve their results, and learn new skills. Actively seek to help people learn from your experiences and knowledge. Develop a culture where people feel responsible for their own results and are supportive of others, as well as provide the model, knowledge, training, and freedom to achieve their goals. Today's leaders should foster a culture where continuous learning and continuous improvement are the norm not the exception.    

 

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I hope you have enjoyed what you've read! Please feel free to with a colleague or friend. We value your feedback, so please send any suggestions or comments to info@boostassociates.com. See you next month with special invitations to events, motivational quotes, and more useful articles and tips to help you on your path to success!