HR Corner Action today to train future leaders by Norman Yam A successful company needs leadership talent at every level No organisation can sustain long-term success unless it has individuals with the ability to lead at all levels of management and in all key departments. An experienced or inspirational chief executive may be able to establish a corporate structure, which should allow people to achieve optimal performance, but ultimately success depends on having leaders who can implement policy and make things happen on a day-to-day basis in each area of operations. Ideally, every member of the organisation will have the qualities needed to take charge and to accept responsibility for their own actions and decisions. Realising this, AXA China Region Insurance has initiated separate leadership development programmes for agents with different levels of experience: one is for current managers, the other for up and coming talent. The executive leader development programme (ELDP) is specifically designed for a select group of senior managers and covers the most up-to-date managerial skills and industry knowledge. "It will present a new leadership paradigm attuned to the evolving needs of our business," explains John Cai, AXA's general manager and head of agency management. Comprising 12 modules and taught over two years, the ELDP incorporates courses in practical management and leadership skills, especially for team building, conflict resolution and managing change. Initially, around 60 agency managers will be selected for the programme. "Every candidate must submit a business plan," says Mr Cai. "This will be evaluated along with their overall performance, their personal attributes and the recommendations of their direct supervisors." Experienced financial consultants will be eligible for the future leader development programme (FLDP). This will offer comprehensive training in planning, time management, counselling, communication, change management, and how to recruit and develop a team of professional financial consultants. "Most other companies only seem to provide leadership training for their managers," notes Mr Cai. "We are somewhat different in this respect, since we also believe in preparing our brightest young talent for future leadership roles before they are promoted." The best leaders are versatile and constantly aware of the market and its changing realities Major investment This is all part of a larger business strategy mapped out in the Hong Kong agency blueprint, which helped the company to attract new business and gain significant market share, when it was first implemented in 2004. Last year, AXA also invested HK$20 million to set up a training academy, and a special diploma course was established in partnership with the Royal Melbourne Institute of Technology in Australia. Mr Cai believes that leadership roles cannot be narrowly defined and must be understood in terms of current business dynamics. "The best leaders are versatile and constantly aware of the market and its changing realities," he says. In his view, leaders should learn to embrace change for the opportunities it brings for business growth and professional development. "During the 80s and 90s, when customers were generally younger, their insurance needs were quite straightforward – life protection was their priority and nothing else," he says. Consequently, insurance agents focused on building relationships with customers and on selling the more traditional products. Nowadays, though, customers are aware of the need to plan for different phases of their lives, and are thinking more about savings and investments for their children's education fund or their own retirement plan. Therefore, financial consultants must move with the times and be ready to offer all-round financial planning advice. "With the industry undergoing a transformation, it is important to have agency leaders who can see the bigger picture and help their financial consultants to align themselves with these new business goals," Mr Cai says. Personal accountability For this to happen, the first step for any organisation is to define the leadership ideals that the company admires most and aims to pursue systematically. "In AXA, leadership is about being responsible and holding oneself accountable to the company and the team," Mr Cai explains. "It is also about being honest and making sacrifices, if necessary, for the interests of other team members. It involves continuously enhancing one's professional competence and striving to build the right habits," he adds. "Maximising the effectiveness of agency leaders is a matter of making them aware of the company's external and internal environments. This allows them to learn and adopt a way of working which best suits the organisation's needs," says Mr Cai. "As leadership development is a protracted process, we will continue to invest the necessary efforts and resources in this endeavour. We see it as the foundation for future success." Salient points Leadership ideals and the desired skill sets must be clearly identified Separate leader development programmes for existing and future managers Development programmes must adapt with the times and tie in with all-round financial planning advice to satisfy customer needs Leaders are taught best management practices with the help of in-house mentors Taken from Career Times 17 February 2006, p. A16 Your comments are welcome at [email protected]