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10 Leadership Development Strategies For Gaining A Competitive Advantage In 2022

Forbes Human Resources Council

Kelly Kubicek is the Co-Founder and CEO of Fulcrum HR Consulting.

The future of every company depends on its leadership’s capability to establish efficient strategic plans, prepare for potential challenges and develop the next generation of leaders. By 2030, 10,000 Baby Boomers (born between 1946-1964) will have hit the retirement age. Those that come after them should have the skills and preparedness to take over and continue the legacy or create a new vision for the company.

Besides, good leadership is also necessary for developing a competitive advantage. Efficient leaders inspire people to create, be innovative and push for company growth. Otherwise, businesses might lag behind and lose their position in the market. That’s why every company should have efficient and well-thought-out leadership development strategies.

Leadership Development Strategies To Surpass Competition In 2022

1. Focus On Soft Skills

Company CEOs usually think first of technical abilities when considering leadership training and development. Even though the C-suite should possess the capabilities that enable them to carry out their job roles, their growth should go beyond job-specific skills.

Your principal focus in developing future leadership should, therefore, be on interpersonal abilities. Start by helping your future leaders become more confident so they turn into stellar negotiators. Provide the knowledge they need to envision, build and coach their teams. Communication is a crucial skill. Teach your future leaders to communicate effectively in conflict resolution.

2. Determine Skills Gaps And Anticipate Company’s Needs

Identify whether your company has a short supply of specific skills. Are there areas you should develop more than others to enhance your teams?

Understand what your business needs before implementing a leadership growth program. Remember to align your company objectives with the individual goals of employees. Everyone should benefit from the initiative and be invested in the process.

3. Keep An Eye On Your Competition

Never underestimate your competition. If you want to stay ahead and ensure your strategic efforts are efficient, keep up with their initiatives and developments.

Research their leadership development strategies and identify what you could do that they don't. Look for their pain points and decide how to avoid them. Ensure you understand what works well regarding their initiatives and what makes their leaders good and well-developed. Avoid replicating their strategies, but feel free to use them as an inspiration and improve them.

4. Identify Emerging Leaders

Assess which managers and employees would fit the leadership position and how long it would take them to get to the role. The most efficient way to start is to talk with team leaders and discuss their professional aspirations.

Determine the skills they need to build to perform their future jobs efficiently. Identify the resources, materials and support that will enable them to reach their goals. That knowledge can help you build personalized training and provide on-the-job projects and assignments.

5. Implement Leadership KPIs

Leadership development strategies should stretch across the company and have a powerful influence. If you want to achieve that, ensure a high accountability level and set goals that help people who are responsible for these strategies understand their progress.

Set a leadership development KPI for every manager, allowing them to track their objectives and metrics. Acknowledge their success and support their efforts with guidance by providing the necessary resources.

6. Provide More Micro-Development Opportunities

Consider creating micro-development opportunities, such as organizational events, networking gatherings, special short-term projects or committee positions. Such opportunities would allow your managers and employees to imagine what it means to be a leader.

Moreover, they will have more continuous leadership experiences and build skills they will need one day. But most of all, your future leaders will build the confidence necessary to take on more demanding projects and obligations.

7. Leverage Mentorship Programs

Those already in leadership positions are the best support your future leaders could have. Match the C-suite members with candidates who aspire to be in their place in the future.

That can help employees gain a deeper understanding of the company and what it takes to lead and inspire others. Mentors can also help future successors set achievable objectives and determine their strengths and weaknesses.

8. Clarify Potential Career Paths

Employees should know their career advancement opportunities and how to unlock them. They should understand whether it would be possible to transition into more demanding positions across departments and what it takes to get there.

Besides clarifying the available placements, explain what employees should accomplish to become eligible. Set concrete milestones, implement relevant training and encourage people to consider becoming leaders.

9. Ensure Employees Feel Connection To The Greater Purpose

Implement initiatives that help connect every manager and employee with the company’s purpose and mission. They should understand how their job roles make a difference.

Employees will only care about a company and becoming its future leaders if they know that their contributions matter. If they know their input is crucial for business success, they will likely be more confident that they can shine in more demanding positions.

10. Cultivate A Continuous Leadership Growth Mindset

Promote continuous learning and development to encourage a leadership mindset. Create a formal program that enables people to continuously improve their skills and adopt knowledge.

Managers and employees should feel empowered to take the initiative and seek growth and more challenging undertakings.

Bottom Line

Every business requires a visionary leader who can inspire people to take action and be one with the company's values and objectives. But it takes time and effort to develop people with these competencies and prepare them for navigating uncertainty. That is why leadership development strategies matter. They help future leaders adopt relevant skills, knowledge and behaviors.

These strategies can help you stay ahead of the competition and drive continuous innovation. People, including the leadership body, are the most significant thing any company has, and investing in them is investing in business continuity.


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