Developing leaders and leadership skills
Preparing leaders is at the core of any company’s ability to grow and compete in the future. When companies identify the high performers in their ranks, why is it that over 70% of them are missing what it takes to perform at the next level within the organization? (Source: Corporate Leadership Council High-Potential Management Survey, 2005). This points to leadership training solutions.
According to the Consulting Psychology Journal’s study, companies that reported having established a meaningful leadership development program were 1 ½ time more likely to appear in Fortune magazine’s “Most Admired Companies.” So, what is holding the other aspiring companies back from implementing meaningful leadership development?
Maybe it starts at the very top of the organization. A study completed by Hewitt in 2005 found that of the top 20 companies in leadership development, their CEOs were actively involved in the leadership development process. This is a significant example of the definition of leadership What happened to 65% of the companies surveyed who were outside the Top 20 and had little CEO involvement?
According to a report about organizations with “highest quality leaders”, these companies had an edge of outperforming the competition by 13 times in such key metrics as “financial performance, quality of products and services, employee engagement and customer satisfaction. (Source: bobbyedegbo)
Isn’t 13 Times More Likely enough to get people’s attention?
It appears that corporate leadership may recognize the need but their plans and execution fall short. In a study at Decision Pulse Newsletter, “56% of corporate leaders predict a shortage in executive-level leadership.” If they are predicting a shortage, what the hell are they doing about it? It appears the answer is “not much since “41% of leadership development programs are not” in alignment with their company’s strategic vision! (Source: bobbyedegbo.wordpress.com )
It’s time for a little straight talk here for company leaders. This should be a wake-up call to company CEO’s and executives. If you are not giving a high profile to both leadership development and current leader assessment, you are putting your organization in harm’s way. The data is clear cut. Companies with state-of-the-art leadership development programs are in a significantly greater position to compete and win now and in the future.
The economic and competitive challenges make combined with the pressure of securing results now do not easily lend themselves to thoughts of leadership development. That said, the companies who are winning have CEOs who are actively involved in providing their own brand of leadership to get the talent development job done.
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