The benchmark report, Leadership Development Benchmarking Survey: Identifying and Preparing Leaders, shows how companies identify lower-level employees with leadership potential and develop them into future leaders.  Research firm Best Practices LLC solicited feedback from five major companies -- Bank of America, AstraZeneca, Korry Electronics, Raytheon, Wachovia. 

 

According to the report, in addition to strategic thinking, executives also look for the capability to establish and execute plans, influence over others, courageous leadership, and ability to communicate effectively.

 

The most common ways companies identify potential leaders are through performance reviews and executive selections, the study found. However, the study also indicates that most companies do not have a format set of criteria for identifying leadership potential of those employees that are below director level.

 

Once leadership potential is identified, more than half of those companies surveyed have a formal process for developing lower-level employees into company leaders. Development activities include internal and external feedback, leadership classes, job rotations, and mentoring.