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Paying It Forward Pays Back for Business Leaders

June 14, 2012 Comments off

Paying It Forward Pays Back for Business Leaders
Source: Catalyst

What makes a leader effective? Sound decision-making, knowing how to manage people, taking charge, and inspiring others to achieve goals are a few of the qualities. But helping others develop their full potential is also an integral part of successful leadership. According to a new Catalyst report, it pays off not only for emerging talent but for those who invest time in cultivating them. And more women than men, it turns out, are helping others move up the ladder. High-potential talent who were themselves mentored, coached, or sponsored to advance in their careers are more likely to “pay it forward” by developing the next generation of leaders, according to Leaders Pay It Forward, the latest report in Catalyst’s series that examines the career advancement of high-potentials throughout the world.

And, paying it forward pays back: It benefits not only protégés but leads to career advancement and compensation growth for those providing the assistance—$25,075 in additional compensation between 2008 and 2010, according to the report. Why? It may be that developing other talent creates more visibility and a following within the organization for the high-potentials who are doing the developing, which leads to greater reward and recognition for the extra effort.

Women, the report finds, are even more likely than men to develop other talent. Sixty-five percent of women who received career development support are now developing new talent, compared to 56 percent of men, and 73 percent of the women developing new talent are developing women, compared to only 30 percent of men. This finding helps bust the oft-cited “Queen Bee” myth that women are reluctant to provide career support to other women and may even actively undermine each other.

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