In the dynamic landscape of contemporary higher education, the demand for leaders well-versed in the intricacies of its challenges has become paramount. Despite the availability of leadership fellowships and retreats globally, there is a notable dearth of institution-specific leadership development programs tailored for post-secondary education leaders. This deficiency leaves a substantial number of higher education leaders ill-equipped with the fundamental competencies needed for effective leadership. This review underscores the pressing necessity to establish institution-based leadership development initiatives explicitly crafted for academic leaders and faculty members. The exploration encompasses diverse platforms and methodologies for delivering such programs, drawing insights from empirical studies that underscore the advantages of leadership development. Also, the review discusses the content of leadership development curricula. Focusing on academic leaders and faculty, these curricula cover competencies such as strategic planning, interpersonal communication, talent management, and adaptive leadership. The outcomes underscore the significance of institutions integrating leadership development efforts within their academic domains. The discussion delves into the manifold benefits of instituting leadership development programs, not only as a cost-effective alternative to external fellowship courses but as a strategic move with multifaceted advantages. These advantages encompass streamlining competitive succession planning, magnetizing and retaining talent, cultivating expansive networking opportunities, and augmenting the capacity to confront contemporary challenges in higher education. By prioritizing the nurturing of academic leaders, institutions can effectively bridge the gap between current leadership skills and the evolving demands of the higher education landscape.