Leadership Development Is Critical To Distribution Growth

In addition to creating progressive paths, the education and training of future leaders is another building block of an effective LDP. It is important to include a mix of industry and proprietary coursework. A strong industry resource includes GAMA International’s LAMP conference. Other experts in the sales management training field, such as Kinder Brothers International, can help develop and teach a curriculum that incorporates management development into each phase of the program.

Another key is to supplement coursework with online resources that appeal to managers’ 24/7 need for information. These might include “on-demand” training modules on recruiting, mentoring, financing and contracts as well as performance mentoring and coaching. Vignettes from industry leaders on topics related to management also are quite effective.

Determining Participants & Maximizing Results

Once the LDP is built, the next challenge is to identify the candidates for the program. They typically fall into three categories: inexperienced internal candidates, experienced internal candidates and experienced external candidates. Potential participants should take part in a comprehensive selection process and be required to meet strict criteria that measure performance, leadership potential and commitment.

As part of the selection process, candidates should develop a business plan, including steps detailing how they would recruit and train, and determine the performance management measures they would use. Once selected for the program, each participant should work toward fundamental goals for recruiting, retention and productivity, with analyses of revenue vs. expense and break-even profit points.

To maximize the results of the LDP, the program’s progressive paths, training and education, recruiting, productivity, and financial management must all be linked to the firms’ vision. This vision for John Hancock Financial Network is its proprietary Client Centered Marketing Firm (CCMF) business model–the driver behind the culture, image and accelerated growth for JHFN’s offices nationwide.

For example, an LDP offers management participants a unique opportunity to learn the business fundamentals of the CCMF and develop a business plan for creating a client-centered marketing firm in their local markets. The business model is comprised of practical processes to develop marketing strategies that help producers better analyze and segment their top clientele while defining a more targeted approach to growing their businesses.

The CCMF model offers managers all the tools they need to position their firm and help their producers achieve increased success by giving them ways to form deeper, more meaningful relationships with key clients. Plus, managers have additional resources to teach producers ways to penetrate further into those markets in which they already have the knowledge and experience, and to uncover new markets.

Recognition is also extremely important in an LDP. Communication of successes and achievements should be frequent because it serves as a competitive driver for increased productivity among program participants.

In addition, special recognition opportunities, such as participation in annual management meetings, membership in high potential study groups facilitated by industry leaders and monthly recognition postings through company newsletters, offer incentives that participants have acknowledged as motivating. An effective LDP also includes special compensation and benefits programs that serve to recognize and reward participants as they progress through the paths.