What is a Executive Development Plan?
An executive development plan is a strategic plan that outlines the goals and objectives of an executive team or individual. It is designed to improve the knowledge, skills, and abilities of the executive team, in order to better equip them to lead the company. The plan typically includes a timeline for implementation, measurable objectives, and actions that are designed to achieve the objectives.
What's included in this Executive Development Plan template?
- 3 focus areas
- 6 objectives
- 6 projects
- 6 KPIs
Each focus area has its own objectives, projects, and KPIs to ensure that the strategy is comprehensive and effective.
Who is the Executive Development Plan template for?
This executive development plan template is designed for HR, people teams, and leadership who want to develop their executive team's skills. It provides a framework to help identify focus areas, set objectives and actions, and measure performance. By using this template, you can ensure that your executive team is properly prepared to lead the company in the most effective way possible.
1. Define clear examples of your focus areas
Focus areas are the broad categories which your executive development plan should be centered around. Examples of focus areas include executive development, performance management, and team collaboration. Each focus area should have specific objectives, actions, and measurements associated with it.
2. Think about the objectives that could fall under that focus area
Objectives are the goals that are associated with each focus area to ensure you plan and execute taking your most important strategic priorities into account. They should be achievable and measurable - under each objective, there should be KPIs and projects that will help achieve it.
Examples of some objectives for the focus area of Executive Development could be: Improve executive skills, and Increase executive engagement.
3. Set measurable targets (KPIs) to tackle the objective
Key Performance Indicators (KPIs) are the metrics used to measure progress towards objectives. Examples of KPIs could include increasing executive skills proficiency, increasing executive satisfaction, and increasing rate of performance reviews. KPIs should be measurable and have an initial and target value.
4. Implement related projects to achieve the KPIs
Projects (or actions) are the steps taken to reach a desired outcome. Projects should be designed to help achieve the objectives and KPIs associated with each focus area. Examples of projects could include creating an executive development program, establishing executive coaching sessions, and implementing employee feedback surveys.
5. Utilize Cascade Strategy Execution Platform to see faster results from your strategy
Cascade Strategy Execution Platform is an easy-to-use tool that provides a comprehensive view of the progress of your executive development plan. It helps to track the progress of objectives, KPIs, and projects, and provides insights into the overall effectiveness of the plan. With Cascade, you can achieve faster results when it comes to developing your executive team's skills.