Some MD can be just reading assignments. The key is knowing the best books for a given employee at that time. The desire to learn and grow is also the test of an employee’s ability to move up in the organization. Those unwilling to invest time in themselves are not very likely to be go-getters that you can promote rapidly. So, assignments should be on their own time when the company pays for the books or other material, ideally. Of course, some can be during work hours too.

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Today, most training can be on-demand video, but there should be a variety and mix of learning modalities. People have preferred methods, and even generational differences in how they like to learn have been well documented. Managers should likely attend one larger industry seminar per year, read books, watch videos on the art of management, and more. This grows their industry view and knowledge. And is a break from the grind that is appreciated. They should bring back a report on what they learn and saw, too.

“The function of leadership is to produce more leaders, not more followers.” – Ralph Nader

For serious companies that want to grow and dominate their space, an Organizational Development (OD) program is required. This is about installing the systems, policies, process and practices a company needs as it gets larger. It dovetails with the individual’s MD program planning the organizational chart and developing people for future roles. OD programs also install and train company processes for hiring, firing, sales, budgeting, the monthly cadence of management meetings for communications and planning, etc. Some are generic and others are specific to the company and its processes. The investment in these needs to be made in proportion to a company’s growth rate and size/maturity.