The importance of balance in leadership development : Lessons from a study of railways in Australia

Purpose – Describes research on the development of leaders in Australian rail organizations. Design/methodology/approach – Details five areas where the “complementarity” contained in the Chinese yin and yang philosophy could help to restore balance in modern leadership. Findings – Highlights the importance of balancing: principles and practices; technical and people skills; hard and soft skills; formal and informal learning; and self and others. Practical implications – Advances the view that these five balances are relevant the world over; one aspect of leadership and management cannot live without the other, yet each aspect lives within the other. Social implications – Demonstrates a way forward for management development at a time when the need for leadership development, capability building and talent management have reached dangerously low levels across the world and the position will deteriorate as baby‐boomers retire and leave behind a leadership “black hole”. Originality/value – Postulates that one aspect of leadership and management cannot live without the other, yet each aspect lives within the other.