What is Leadership Development?
‘Leadership Development’ refers to the initiatives taken by the company to improve the skills and abilities of its leaders and senior management. Usually, it is conducted using either individual coaching or mentoring programs.
Leadership Development programs vary a lot in their complexity, style of training as well as the cost required. The success of these programs hugely depends on the leader being mentored, the quality of the mentor, the level of support provided as well as the overall caliber of the program.
A leadership development program is bound to be successful if it incorporates all of the following factors:
- Integrates a range of experiences over a wide period of time
- Incorporates 360-degree feedback
- Has classroom-style instances
- Integrates business school-style coursework
- Offers executive coaching
- Involves setting goals
- Assess key development areas