A leadership skills gap and limited talent pipeline are prompting mid-sized and large companies to make a renewed commitment to leadership development, according to a recent survey.
“The Rising Risk of a Double-Dip Leadership Crisis: A Pulse Survey on Exploring the Increased Focus on Leadership Development” found that Fortune 1000 companies do not have enough leaders coming up through their ranks to fill existing and future leadership roles—partly due to recessionary cuts made to leadership programs. In fact, 62% of respondents surveyed by The CARA Group, Inc. (www.caracorp.com) indicated that their organizations face a leadership skills gap.
The top three most critical skills gaps are:
- Leading others, cited by 54% of participants;
- Managing change (43%); and
- Strategic planning/vision development (40%).
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However, the survey also revealed that companies are doing something to address the leadership skills gap. Also, 84% of survey participants said their organizations have placed a greater focus on leadership development in the past 2 or 3 years.
“The survey results are very promising in that organizations report they are taking necessary steps to quickly correct the current leadership skills gap,” said Jane Ehrenstrom, senior vice president of CARA, a human performance consulting firm. “We are seeing firsthand that businesses understand the potential consequences of not developing high potential leadership talent. They are meeting the challenge with innovative programs to help cultivate the leaders needed to competitively drive their organizations into the future.”
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In tomorrow’s Advisor, we’ll give you more survey findings—plus examine a powerful and effective online resource for leadership training.