What is the leadership pipeline?
Brooding young blood from the organisation always helps a organisation more than employing outside talent. Though in exceptional and urgent cases that might be the only option. Keno Bank needs new managers within the next year,as it plots to overtake its nearest competitor. It thus has sufficient time to find leaders within. Charan, Drotter and Noel say that in the long run, management should have a leadership development plan within the company.For too long,organisations have promoted people based on just their personal traits, skills and technical aptitude. Its assumed that performance in one job will open up the likelihood of them performing well at the next one (Charan ,Drotter and Noel 2010). The scarcity of talent haunts such companies. The leadership pipeline helps unlock untapped leadership potential(Charan et al, 2010).Every human being has the potential to achieve great heights. But to capitalise on this potential, the requirements needed to make the transition from one layer to the next have to be discerned.
To build a solid foundation for leadership,The passage starts from Managing self to managing others(Charan et al, 2010).The six turns are the milestones in the life of a leader in the organisation(Charan et al, 2010). They could also be classified as transitions. Ralph Waldo Emerson once rightly said “Not in his goals but in his transitions is man great. In case of Keno Bank, The passage stage that is being targeted is Passage One. When people become adept individual contributors good at churning out results,especially when they demonstrate an ability to collaborate with others, normally they are given additional responsibilities(Charan et al, 2010). When their performance shows that they can handle these responsibilities and abide by company values,they are promoted to first in line manager(Charan et al, 2010).
The problem at this point is that people stumble at this point. The behavior pattern that they were programmed to do as individual contributors continues, since this was the reason for their success in the first place. People are reluctant to change ,they make job transition from Individual contributor to manager without changing their value or behavioral compass(Charan et al, 2010).. In fact they keep on doing the same things even more frantically. Time reallocation is a difficult requirement placed on first time managers as tyro managers prefer to spend time on old work instead of managing(Charan et al, 2010). A manager doing work of a lower employee is a waste of resources.A leader must help others do their work with dedication.Further these managers go up the passages,they will be unable to cope up, if they continue to maintain the same mindset. The leadership pipeline would thus be clogged and doomed to fail(Charan et al, 2010).
However the most difficult change involves values(Charan et al, 2010)..Values changes will happen if upper management reinforces the necessity to shift beliefs and that realisation for people that they’re successful at their new jobs after the value shift(Charan et al, 2010). Managers must learn to derive job satisfaction from managing and leading others(Charan et al, 2010).
Why Leadership Pipeline development?
An article published in the Corp magazine a month ago had created a buzz in the banking industry. It had stated the biggest threat and challenge the banking industry would face a couple of years down the line. This article dated 11th April 2013 by Brian Rhonemus below would help understand the importance of leadership pipeline development in the banking industry. Here's an excerpt of the article
Lack of Succession Planning Threatens Banking Industry
"By the year 2016, it’s estimated that 60 percent of today’s CEO's in the banking industry will be retired – and there aren’t enough candidates in the leadership pipeline to handle the demand. At the same time, the industry is taking a hard look at profitability and performance. The spotlight is on developing new products and revenue sources, and organizations will require carefully crafted business strategies to address the effects of regulatory reform, technology change and market movements. The competitive advantage in the years ahead will go to those banking institutions that have the foresight to plan for their future talent needs to meet these critical challenges....
References
1.Charan, R., Drotter, S., & Noel, J. (2010). The leadership pipeline: How to build the leadership powered company (Vol. 391). Jossey-Bass.
2.Rhonemus, B. (2013). Lack of Succession Planning Threatens Banking Industry. Retrieved May 20,2013, from http://www.corpmagazine.com/management/human-resources/itemid/10297/lack-of-succession-planning-threatens-banking-indu
Brooding young blood from the organisation always helps a organisation more than employing outside talent. Though in exceptional and urgent cases that might be the only option. Keno Bank needs new managers within the next year,as it plots to overtake its nearest competitor. It thus has sufficient time to find leaders within. Charan, Drotter and Noel say that in the long run, management should have a leadership development plan within the company.For too long,organisations have promoted people based on just their personal traits, skills and technical aptitude. Its assumed that performance in one job will open up the likelihood of them performing well at the next one (Charan ,Drotter and Noel 2010). The scarcity of talent haunts such companies. The leadership pipeline helps unlock untapped leadership potential(Charan et al, 2010).Every human being has the potential to achieve great heights. But to capitalise on this potential, the requirements needed to make the transition from one layer to the next have to be discerned.
To build a solid foundation for leadership,The passage starts from Managing self to managing others(Charan et al, 2010).The six turns are the milestones in the life of a leader in the organisation(Charan et al, 2010). They could also be classified as transitions. Ralph Waldo Emerson once rightly said “Not in his goals but in his transitions is man great. In case of Keno Bank, The passage stage that is being targeted is Passage One. When people become adept individual contributors good at churning out results,especially when they demonstrate an ability to collaborate with others, normally they are given additional responsibilities(Charan et al, 2010). When their performance shows that they can handle these responsibilities and abide by company values,they are promoted to first in line manager(Charan et al, 2010).
The problem at this point is that people stumble at this point. The behavior pattern that they were programmed to do as individual contributors continues, since this was the reason for their success in the first place. People are reluctant to change ,they make job transition from Individual contributor to manager without changing their value or behavioral compass(Charan et al, 2010).. In fact they keep on doing the same things even more frantically. Time reallocation is a difficult requirement placed on first time managers as tyro managers prefer to spend time on old work instead of managing(Charan et al, 2010). A manager doing work of a lower employee is a waste of resources.A leader must help others do their work with dedication.Further these managers go up the passages,they will be unable to cope up, if they continue to maintain the same mindset. The leadership pipeline would thus be clogged and doomed to fail(Charan et al, 2010).
However the most difficult change involves values(Charan et al, 2010)..Values changes will happen if upper management reinforces the necessity to shift beliefs and that realisation for people that they’re successful at their new jobs after the value shift(Charan et al, 2010). Managers must learn to derive job satisfaction from managing and leading others(Charan et al, 2010).
Why Leadership Pipeline development?
An article published in the Corp magazine a month ago had created a buzz in the banking industry. It had stated the biggest threat and challenge the banking industry would face a couple of years down the line. This article dated 11th April 2013 by Brian Rhonemus below would help understand the importance of leadership pipeline development in the banking industry. Here's an excerpt of the article
Lack of Succession Planning Threatens Banking Industry
"By the year 2016, it’s estimated that 60 percent of today’s CEO's in the banking industry will be retired – and there aren’t enough candidates in the leadership pipeline to handle the demand. At the same time, the industry is taking a hard look at profitability and performance. The spotlight is on developing new products and revenue sources, and organizations will require carefully crafted business strategies to address the effects of regulatory reform, technology change and market movements. The competitive advantage in the years ahead will go to those banking institutions that have the foresight to plan for their future talent needs to meet these critical challenges....
References
1.Charan, R., Drotter, S., & Noel, J. (2010). The leadership pipeline: How to build the leadership powered company (Vol. 391). Jossey-Bass.
2.Rhonemus, B. (2013). Lack of Succession Planning Threatens Banking Industry. Retrieved May 20,2013, from http://www.corpmagazine.com/management/human-resources/itemid/10297/lack-of-succession-planning-threatens-banking-indu