At the end of last year, I reflected on how to improve the leader development services that I provide to CEOs through Vistage Worldwide’s multi-service ecosystem (e.g., Peer Advisory Boards and Vistage Inside for executive teams, which provides), a statement in a McKinsey article (“What’s Missing in Leadership Development?” by Feser, Nielsen and Renni); August 2017) caught my attention. “There is overwhelming evidence that the plethora of services, books, articles, seminars, conferences… a global industry estimated to be worth more than $50 Billion – are delivering disappointing results….just 10 percent said their leadership development initiatives have a clear business impact.”
The authors concluded that four sets of intervention appear to matter most:
- Contextualizing the program based on the organization’s position and strategy
- Ensuring reach across the organization
- Designing the program for the transfer of learning
- Using systems reinforcement to lock in change.
Each year, I review the results of last year’s program with clients as we forge next year’s strategic goals. Are sales and profits increasing – and why or why not? Are human and capital resources being maximized, and if not what’s necessary? How is the market – changes in customers’ needs and competition – impacting on the company? Do we have a clear and executable strategy for the next year, with KPIs measuring the effectiveness of execution? What else needs to change? Are we becoming a Continuous Improvement Learning Organization (CILO)?
Apparently, our leader development programs are working. As a result of regular monthly meetings to review progress, improve through executive coaching, fresh perspectives and adoption of new tools shared by Vistage experts and CEO peers, 24/7 access to a Chair/coach and our focus on becoming a CILO, is enabling our leaders and their organizations to achieve new heights: one member’s company has quadrupled in sales and profits during the five years we’ve been working together.
Whatever leader development system you use, heed the advice of these authors, as we are.
For more information about Vistage’s potential help you and your team have a super year in 2018, feel free to contact me! Remember, Vistage’s 21,000 leaders are in 20 countries, served by over 600 Chair/facilitators; so I can refer you to another local Chair if you’re not in NYC!