Why Your Strategic Plan Will Fail Without Leadership Development
Hardline growth strategies, goals and robust project management are vital to ensuring that a business achieves its strategic ambitions. You absolutely need these and the right systems and processes in place to facilitate successful execution. However, even the most focussed plans are useless unless something is done to engage the business’s biggest asset – its people.
If you want your business to grow, you must include leadership development into your organisation’s strategic plan. Consider this:
Your business will not grow unless its culture allows people to thrive. According to Forbes Magazine, the highest performing companies invest the most in their people’s leadership development. If you don’t invest in your people, they aren’t going to invest in you. It’s that simple. And by investment, I don’t mean financial. Coach your people, help them build the skills needed to get your strategy executed, and you will be rewarded with discretionary effort, engagement and commitment towards your success – and results!
Achieving your strategic ambitions requires involvement from all your people. Don’t forget the ones who will literally be executing your strategy every day – often they are in the middle to lower levels of the business. Grow your leaders across the business.
Here are some ideas you might wish to consider to help you achieve this:
Include leadership development as one of the desired outcomes of your strategic planning process. Treat it with the same importance as your other strategic ambitions, and it will start building greater expectations at a cultural level.
Make leadership development a goal in your plan on a page. Treat it with the same importance as all your other goals – allocate an owner, and a measure and target to be achieved by a certain date.
Listen to how your leaders about their growth needs. Coach your people and ensure that you are helping them develop the skills they need to deliver on what is expected of them.
Hold your team accountable through regular performance reviews.
All too often, I see companies invest heavily in their marketplace and workplace goals, with much less emphasis on the development of their people. Without your people’s help, your strategy will fail. Invest in your people. Nurture them and help them develop, and you will find that the positive outcome for your strategic ambitions and your business will be something much greater than something that can be measured financially.
“Leadership is the capacity to translate vision into reality.”