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Worldwide – Executive Leadership development is a top priority

Posted on January 26, 2011 by Baxter Dickson

As the economy begins its recovery, we’ve seen some refocusing among VoicePro® clients on leadership development. According to research by Deloitte, the international consulting firm, the same trends are appearing on a global scale. Their research study with some 300 global executives shows leadership development coming up again and again. Let me share some key findings from“Talent Edge 2020: Blueprints for the New Normal.”

More and more, organizations feel challenged to develop their next generation of leaders.

In fact, a full 56% told Deloitte they believe there will be a moderate or severe shortage of executive leadership. The cause? The retirement of Baby Boomers. They feel a need for strong leadership development programs and processes to be ready. Says the report, “developing leaders and succession planning is currently both a top concern and a top talent priority.”

There’s a focus on fundamentals of talent development as a priority.

A return to training programs was named by more than a third of all research respondents. In addition, companies that consider themselves “world-class” in talent development are investing in talent programs, including making sure there are challenging opportunities and clear career paths for their up-and-comers.

High-potential leaders will get special attention.

Over 70% of respondents said so. Fast-tracking their high performers is part of the plan, with accelerated leadership programs named by almost 2/3 of executives.

World-class companies are investing in people.

Respondents who identified their talent management programs as “world class” foresee investing in their employees. They’re making recruiting of critical skills a top priority and giving training increasing prominence. 42% of the world-class firms named it as a top priority. Even among companies that don’t rate themselves as world-class in talent development, a third named training as their most pressing concern.

Engaging current employees is also a priority.

That’s the word from world-class organizations. At the top of the list – clear career paths and job challenges for employees. Next came top-quality communication programs.

Talent programs pay in recruitment.

Executives who rate their talent programs as world-class told Deloitte that their organizations are excellent at recruiting talent. More than 70% say they plan to boost their efforts in accelerated leadership programs.

Retention plans include developing leaders.

The majority of research respondents still express concern over retaining top talent. Still, the companies with a retention plan in place feel more confident about the future. A key factor in those retention plans? A focus on emerging leaders, followed by strengthening senior leadership.

What are your plans for 2011? How will you step into an improving economy to build your organization? AtVoicePro®, we couldn’t agree with Deloitte more: success depends on talent – and a strong development plan can help you attract it, build it, and retain it.

Image by Lars Plougmann

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