Developing emerging leaders: a new solution to an old problem

Purpose – This article argues that current approaches to leadership development are ineffective and proposes a new model for developing both individuals and future leadership teams concurrently. Design/methodology/approach – The article summarizes the failures of current leadership development models and discusses five steps, with specific actions, necessary for developing future leaders and leadership teams. Findings – With the baby boomer retirement bubble about to burst, leaders must take action now to plan for succession and create bench strength for the future success of the organization. No one is better qualified to develop a company's future leaders than its current leaders. The proposed model will enable them to do so effectively. Practical implications – It is critical for current leaders to begin developing the next generation of leadership immediately in order to maintain continuity of leadership and to keep companies viable from generation to generation. Originality/value – The article proposes a new model for leadership development that explores appropriate steps to identify talent, develop the talent individually, and concurrently develop future leadership teams.