The article is devoted to the problem of followership in leadership. Basing on the analysis of foreign literature the concept of followership is formulated, as well as its role in leadership development. It is emphasized that at present the role of followers in the process of leadership is being rethought. Followership is seen as a necessary component of leadership. Followership is defined as the characteristics, behavior and processes realized by the individual toward the leader. The content of the construct “followership” is revealed through such concepts as: the characteristics of followers, behavior of followership and outcomes of followership. The role-based and constructionist approaches are the basis for interpreting the followership. It is shown that the theory of followership is of great importance for developing the concepts of leadership and overcoming the leader-centered approach to studying the process of leadership. Besides, the theory is important for the effectiveness of managers’ leadership.