The latest report from Bersin & Associates shows a “surge in leadership development spending” of 14% in 2012. Are you keeping up with the competition?
The report cites the growing worldwide shortage of leadership talent and the need for leaders at all levels who are agile and innoavtive thinkers. Several key areas were highlighted:
- Companies with “mature” leadership development programs are spending an average of 30% – 60% more than their less mature couterparts, resulting in a widening competitive gap. The mature companies are seeing increased business results, retention, engagement and productivity or as we like to say an ROP (Return on People).
- Greater investment in leaders at all levels. Senior leadership development represents only 22% of the spend as companies are realizing the need for leadership at all levels in the organization.
- Spending more for the high potentials. The research shows companies are spending significantly more on the high potentials to ensure business goals are met. This fits our advice to spend more time and money on growing your top talent rather than focusing too much in problem employees.
Leadership development was a top competency identified by the CPA Horizons 2025 Report for CPAs to be successful in the future.