A recent Deloitte study (PDF) showed that 89% of firms are concerned that they lack effective leadership, with 40% saying training programs they paid for delivered little and 24% saying they were a complete waste, Steve Price, Dell’s Chief Human Resources Officer, writes for Forbes.
A firm first needs to figure out the “right cultural DNA” for its business, Price writes. “Once you figure out your ideal culture, you can provide your leaders with a list of principles that reflect and support it,” Price writes. “For instance, Dell’s leaders are expected to thrive at these…leadership attributes: optimism, humility, drive, vision, selflessness and good judgment, while building trusting relationships.”
Making sure leaders are held accountable for embracing and practicing their firm’s principles also is important. “One way we hold our leaders accountable is through our team member surveys,” Price writes. “Leaders who score at least 75% favorability from their teams receive recognition and are more likely to be promoted. Those who score 60% or lower are provided resources, tools and training to improve.”
A company also needs to put its leadership strategy through a tough analysis by making the most of data. “Only through extensive research was Dell’s HR team able to uncover that team members’ engagement, company pride and optimism all dropped by more than 30% when they shifted from an “inspiring” leader to an “uninspiring” one,” he writes.