Part 1 of 5
In a recent analysis of 360-assessments data (focused financial institutions) that we gathered from our Leadership Development Program and our Leadership Coaching Practice, we discovered some interesting trends in leadership strengths and opportunities for development.
Not surprisingly, behaviors and competencies that are strengths or need developing in individual contributors, also show up as the top strengths and development opportunities in mid-level managers, and I senior/executive leaders.
In this series we will begin by exploring this data and examine the primary trends. In the subsequent posts we will look at each of the four key challenges that span all levels of leaders and discuss strategies for strengthening these development opportunities.
The highest ratings across all levels of leaders were:
- Demonstrating Drive & Commitment
- Building Relationships
- Establishing/Inspiring Trust
The lowest ratings across all levels of leaders were:
- Managing/Ensuring Execution and Developing Realistic Plans
- Innovation & Thinking Creatively and Stimulating Creative Thinking in Others
- Building & Developing Talent and Delegating Enough Work
- Thinking Strategically
These trends are not uncommon from what we see in other industries, and make sense given the environment of Farm Credit. New employees (especially on the lending side) are hired into financial services/lending institutions for a variety of reasons, but often because of their ability to connect and build relationships with customers.
As these same, high performing individual contributors move up to managers, and managers of managers, and eventually into senior leadership roles they are asked to take on greater responsibility and a significantly different focus—from production to leadership, from focusing on the customer to focusing on the organization (and the customer), from valuing their individual accomplishments to valuing the accomplishments of their direct reports. As we’ve seen in our leadership programs and coaching, and you see regularly in your organization, many struggle with this shift in focus and continue to operate as if in their past roles—focusing on the “doing” of the job. This leaves little time for developing talent, managing execution of big projects, thinking strategically, and focusing on developing talent.
As you transition into new roles, your skills, focus, and time horizon change.
Skills—The skills needed to be successful move from technical to managerial and leadership skills, and finally to strategic thinking skills.
Focus—Your focus shifts from getting results from personal accomplishments and proficiency to getting results from others to developing and growing others. Focus also moves from individual customer or product line to enterprise-wide thinking and strategy.
Time Horizon—How far ahead you are thinking expands as you move into greater leadership roles. Often front-line employees think day-to-day or maybe quarter to quarter, while senior leaders must be thinking ahead by 3 o 5 years, if not more.
PRACTICE
We have found it helpful for people going through a transition or leaders helping an employee with a transition to work through the following two exercises. The first exercise is to consider how skills, focus, and time horizon change must change and evolve from the old role to the new role. It can be helpful to start by thinking this through yourself, and then to solicit input from your new boss as well as others who have been successful in this transition. The second exercise is to consider what you need to Let Go, Add-on, and Preserve (think in terms of skills, focus, and time horizon) as you move from one role to the next. Again, it can be helpful to solicit input from others.
What do you notice in these trends?
Inciting Leaders 