In America, the language of team sports has been readily adopted by the business world, and it’s not hard to see why. The exhilaration that comes with striving for and achieving big goals through a group effort is easily captured in the metaphors of moving the ball, making the big play, and scoring. Whether it’s a hat trick, grand slam, 3-pointer, or game-winning touchdown, the images conjured are all celebratory.
It is also significant, if downplayed in business circles, that the consistent contenders are those teams with an active commitment to bench strength. The elaborate network of scouts, farm clubs, academic recruiters, and data analytics employed by sports franchises has been well documented. So why do businesses still neglect their bench strength? This is a prime area where diligent board members may have to assert themselves.
Business leaders generally have their hands full dealing with each successive crisis du jour. There is a temptation to let the Human Resources people own career development, succession planning, and recruitment. But HR professionals are generally not positioned to anticipate the future needs of their business; it must be spelled out as a priority.
Resourceful, resilient, and ready leadership doesn’t just happen—it’s cultivated. Leadership means investing in tomorrow’s leaders. Boards have a unique role in ensuring companies invest in talent development and build a resilient pipeline for succession. They don’t have to be recruiters, but they should ask periodically to see the scouting reports and ensure that they are looking for the right skills, talents, and values to align with future trends.
Board members must advocate for the long view. They should encourage management to think beyond annual goals and identify future-ready leaders equipped to manage future challenges and opportunities. Directors should request reports on bench strength, asking specifically about rising stars—how they are being coached and prepared. They should advocate for clear succession planning, with candidates for future CEO and key roles not only named but groomed with the right experiences, connections, and proofs.
Boards should also scrutinize the list of requirements—the scouting sheet, if you will. This has greatly changed in my time, and will no doubt continue to morph. But when I am considering if an individual has what it takes, I look first for emotional intelligence. Today’s leaders need to listen, adapt, and inspire under pressure. Boards should look for leaders who build culture, not just manage metrics. And they should insist on a robust plan to support cross-functional mentoring and development.
Expecting accountability for advancing diverse talent is another area where the board has a role. This is not, and never should be, about quotas or optics. It’s about representation, something that is strategically important to clients, constituents, employees, and the community at large. Are women represented? What about minorities or cultural and social groups that are often underrepresented? Their insights can help businesses design big-picture strategies that work across multiple trend-driven scenarios. Boards should expect to see diversity in the candidate consideration list. And they should encourage systems and processes that develop and stretch people in these assignments.
The secret to bench strength is an intentional, long-term plan. Boards can’t build the bench alone, but they can hold management accountable for doing it right.
Here’s a baseball analogy. The pitcher is keeping an eye on who’s at the plate, plus who’s in the on-bat circle. The manager is keeping an eye on the bullpen. The owner is looking at the standings. Who is looking at next season’s roster? To paraphrase the Moneyball film, you’re not buying players, you’re buying wins.