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How Do You Develop Leaders On A Budget?

How Do You Develop Leaders On A Budget?

by Jim Ludema and Amber Johnson. Forbes.

Here’s a problem we hear frequently from CEOs: My new managers aren’t prepared to lead.

You probably experience this all the time. You promote a talented individual because of his or her technical skills, but that doesn’t mean they know how to lead others. Someone may be a great salesperson, engineer, accountant, or marketer, but put them in charge of a team and suddenly their technical expertise doesn’t matter as much as their ability to influence others.

Leaders everywhere experience this problem, but it’s especially acute for executives within small and mid-size companies who don’t have an in-house leadership development program. Assuming you can’t hire a talent development department tomorrow, how can you turn your individual contributors into exceptional managers, or prepare your managers for executive leadership, quickly and on a budget?

We have three ideas that can fit most budgets:

  1. Practice focused mentoring.
  2. Use team meetings for learning and discussion.
  3. Invest in targeted education programs for select leaders.

Budding Leaders can enhance their skills by involvement in team discussions and through mentoring programs. This focus also help’s the business to THRIVE by encouraging team alignment.

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