All companies definitely need leaders in all areas of their department or organization. It doesn’t matter if the aspect focuses on accounting and finance where a business is mostly dependent to achieve success. However, there are still many businesses or companies who cannot see the importance of implementing plans and leadership development programs. Don’t you know that it offers a clear pathway to every management roles? Creating a good executive development plan can be one of the best ways to help you develop your skills that you need to use for the organization and to help you grow in your own career as an individual. These offers a lot of benefits such as giving employees high morale, more productivity and innovation. Through this, your employee can also feel that they belong in the organization and can be able to understand the value of their own work.
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What is an Executive Development Plan?
An Executive Development Plan (EDP) is a type of blueprint for all types of developmental activities that allows you to strengthen your executive performance. It usually consists of a list of training activities that allows you to be engaged, reflect with regards to your level of commitment to the public service, and provide a demonstration pertaining to your commitment that speaks about having a lifelong learning. It gives you a broader sense of perspectives pertaining to the department and gives you an assistance in meeting with the leadership, improvement, and organizational results.
You should have to create an EDP that gives you full support. It should be able to allow you in strengthening your expertise particularly in the aspect of information, technology, public policy, human resource management, ethics, and financial management. Always remember that you executive development plan serves as a living document. That is why it is preferable to have it reviewed and updated at a regular basis. It can be done annually just to make sure that it is incorporated with the new trainings and learning opportunities.
Elements of an Executive Development Plan
By the time that you have already known the goals and leadership qualities that you want to improve, it is already time for you to create an effective executive development plan. Remember that the document is considered personal, so it should be following the right format that works best for you when taking in a piece of information. However, no matter what format you will use, there are still things that you need to know and it is about the elements that consist in an executive development plan.
- Core skills – you should be able to identify the skills that is related to your leadership goals. These should not be part of of your existing job responsibility. If you are struggling coping with up with the skill, you may ask someone to practice the skills with them or you may look for other resources that will eventually help you in building the skill.
- Gaps to close – there have been a lot of responsibilities that a leader must be expected to have. As with building with those skills, it is highly essential to identify the tasks that are in lined with the goals and plan in order to gain an experience.
- Building new relationships – identify those stakeholders that you want to have a stronger and mutually beneficial relationship with. You may reach out to them by starting a conversation.
- Tasks to delegate – begin by listing all the activities that are needed for the development of your role. Include those that allow others who are capable of completing themselves.
- Action items to complete – these action items refer to meeting with a mentor, reading books with topics pertaining to leadership, completing a leadership assessment, and identifying training opportunities.
- Indicators of success – the following serves as the indicators of success: improving the quality of work, teamwork, and morale, increasing the delegation to every responsibilities, strategic planning, continuous learning to everyone, and recognizing contributions to each of the teams.
What are some of the activities that you can add in order to support your development as a leader?
You may start by seeking feedback, reflecting, finding a mentor, and signing up for a training.
What are the steps to take when creating an executive development plan?
You have to define your company’s leadership needs, develop, identify potential leaders, and measure the results.
What are the types of training that you can implement to your EDP?
You can have the formal training which consists of seminars, educational programs, etc. and the informal training which consists of supplemental readings, speaker forums, peer coaching, special projects, etc.
If you want to see more samples and format, check out some of the executive development plan samples and templates provided in the article for you reference.
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