Traditional leadership development tells us that 70% of learning happens through on-the-job experience, 20% though feedback, and 10% through formal training. Research conducted over the past three years points to an alternative — and, we believe, more effective — framework for the process that emphasizes three actions: sensemaking, or understanding how the business world and the organization works around you; experimenting, or testing ideas; and self-discovery, or figuring out your own identity in the workplace. When implemented at HSBC this framework enhanced participants’ development. The experiment also pointed to new best practices for hybrid leadership development: programs should be iterative and experimental, embedded in day-to-day work, supported by coaching, and span all modes of delivery from all-virtual to fully in person.