As the HR Head for a private bank, I am faced with an unique situation. My organisation has flourished for the past 7-8 years with admirable leadership from my management team. However, the issue  is that all the leaders in my organisation are due to retire in the next few years, leaving behind a legacy of success and a gaping hole at the top.

How do I address this situation in terms of building a pipeline of the requisite skills in this short duration of a few years?

This situation is common to organisations that have taken the leap from being followers in the market to new age leaders, led by an able top management team. You have done well to identify the issue. Most HR managers would wake up to this question only when the CEO would ask a question like: 'Do we have someone to replace our CFO next month?'

It is essential to take a step by step approach. Begin by understanding that not everyone in the organisation can take on leadership positions. There is a desired level of competencies, functional and behavioural, that the organisation is looking for in its leaders. However, keep in mind that these competencies should reflect the long-term strategy of the organisation.

Next, understand where your aspirants are placed on these competencies. You would then conduct a preliminary base-lining of their skill levels and understand their strong and weak points. Next, formulate a development plan for each of your potential talent for the next few years.

It is vital to understand that not all people are comfortable in all types of learning environments. I might find a classroom session very absorbing while you might be comfortable learning on the job. Development plans have to be customised, keeping in mind the needs of each individual.

Not everyone of your potential talent may learn at the same rate. You have a few years to make them go through the structured development plans following which a reassessment on desired competencies would reveal the employees ready for senior leadership positions. This would also act as an input to the effectiveness of various training  techniques that you employ over the years as well.

Lastly, you as a HR head must have the trust and patience to guide your potential talent towards achieving greater heights. After all, what is said of life is true for leadership development: It's a marathon, not a 100m dash.

The author is Executive Director, PricewaterhouseCoopers.