As summer fades like the flowers in our garden and we move into a busy fall season we’re planning a series of webinars, executive briefings, and workshops focused on Talent Management. Here’s why:
• 70% of executives think their organization lacks adequate bench strength
• 97% of organizations report serious leadership gaps, 40% say these are severe
• 65 to 75% of current senior management will be eligible to retire by 2020
• Of leaders hired from the outside, it is estimated that 40% are pushed out or leave 18 months after joining an organization
• 60% of companies face leadership shortages that impede their performance
• 31% say developing leaders is their largest talent issue
And current development approaches aren’t working. Needs assessments and performance evaluations look for gaps and design training programs to fix weaknesses. This is a major reason participant motivation to build skills has been very low and transfer of learning poor. In a large scale global survey of CEOs and senior executives, 76 percent cited leadership development as important yet only 7 percent thought their organization was doing it effectively.
Tomorrow we publish my August blogs in the September issue of The Leader Letter. It will feature the presentation Jack Zenger and Joe Folkman delivered at our summer Extraordinary Leader Summit on discovering an organization’s hidden talent. We’ll also look at an inspiring story illustrating our Likability Index, do we need different competencies for different levels?, leadership reflections from the life and work of Warren Bennis, proactive versus reactive leadership, recognition pitfalls and traps, and tips for taming The E-mail Beast.