5 Reasons You Need An Executive Leadership Assessment

As a senior leader, you have probably taken some type of assessment during the course of your career. The results provided you with insight into your strengths and weaknesses and helped you become more self-aware. However, even at the most senior levels it is still critical to take some type of leadership assessment on a regular basis because you need to continue to improve your performance for maximum benefit regardless of how long you’ve been in your position. Here are 5 reasons you should take an executive leadership assessment.

1. THE HIGHER THE POSITION, THE LESS LIKELY YOU RECEIVE FEEDBACK

It’s easy to believe that you don’t need feedback at the most senior levels of management. You’ve made it to the top so you must know all that you need to know, right? Also, it’s harder for you as a senior leader to receive open and honest feedback even if you seek it from your peers, direct reports and other colleagues. A 360 degree assessment that is completely anonymous is an excellent way for you to receive the type of candid feedback necessary regarding your leadership, behavior, capabilities and performance from your team members who wouldn’t feel comfortable addressing these concerns with you in person.

2. LINK BUSINESS STRATEGIES WITH YOUR LEADERSHIP COMPETENCIES

Leadership assessments are an excellent way to determine if you have the essential skills to move your company in the direction needed. Your organization’s business strategies are vital to improving the bottom line and it’s critically important to link those strategies with the skills required for success today and in the future. Assessments will help you identify which competencies need further improvement so you can develop a long-term strategy that’s built to change and adapt as the business climate necessitates.

3. COMPARE YOUR SKILLS AGAINST INDUSTRY STANDARDS

Perhaps you have been in your position for several years. Are you keeping up with the ever changing business climate in your industry? It’s much too easy to become complacent with your capabilities when you’ve been in the same job for an extended period of time. By conducting a leadership assessment, you will be able to identify how your skills match up with what the industry standards are and whether they are the competencies necessary to stay ahead of the competition.

4. IDENTIFY KEY GAPS AND WORK TO RESOLVE ISSUES BEFORE THEY COST THE COMPANY MONEY

Derailing leaders cost companies millions of dollars through lost productivity decreased revenue due to poor performance. By taking an assessment on a yearly basis, you will be able to identify any key competency gaps or issues that could cause significant problems for the organization. Then you will be able to get the appropriate coaching and training needed to improve your skills and avoid a complete derailment. After all, just like in medicine, prevention is the best strategy for avoiding illness.

5. LEAD BY EXAMPLE TO IMPROVE THE COMPANY’S CULTURE

A leader who participates in assessments helps to set a positive tone for the team, department and company. This willingness to assess your leadership skills shows others at all levels what is expected and supported throughout the organization. It helps to create a culture of engagement, openness and validates the importance of continuous professional development.

When was the last time you took an assessment? Make sure you stay current on your leadership skills and help improve your company’s bottom line through regular assessment of your executive leadership performance.