Leadership Development Gap
I was doing some research for my next #leadershipcoaching program and came across some really interesting stats (see photo).
It is so fascinating to me that getting the next level of leaders developed and ready is mission-critical and a #strategicpriority for CEOs. We are already seeing many gaps as leaders either leave work altogether or leave their jobs in search of #careeradvancement or a normal level of expectations so as to not #burnout. And yet, few organizations are implementing strategies on a large enough scale to deal with this massive issue.
This creates an ongoing problem.
Let’s play this out.
🔴A leader quits their job thus creating a vacancy.
🔴No one is ready internally to take on the role.
🔴You have to attract a qualified external candidate, which is tough due to a skinny talent market, and you will likely have to pay more because of the short supply and the high demand.
🔴Paying more throws your internal pay equity out of whack, causing more frustration inside the organization.
🔴Meanwhile, other people have to step up to cover the gap and they are unqualified, underpaid, and overworked and yet just trying their best to help leading to #quietquitting
🔴Eventually, they get fed up with this cycle and they leave your organization and the cycle happens all over again!
This is utter madness!! Consider the cost of this cycle – between the direct and indirect costs. In the end, preparing the next level of leaders would be less expensive, and create higher levels of engagement and productivity which would improve the bottom line.
And, when considering what a leadership development program might look like, DDI’s Global Leadership Forecast found that leaders want to be educated in the following ways:
· External Coaching 48%
· Developmental Assignments 48%
· Assessment to diagnose leadership strength 42%
· Formal in-person training 39%
Most #leadershipcoaches I know, myself included, use a combination of assessments with personalized development plans in order to support the leader in their growth. And usually, those plans incorporate how to embed new skills and knowledge into their current work assignments. Though formal training can be helpful in terms of learning foundational concepts, working with a coach can embed those skills into deeper learning.
I also want to call out to individuals who are either current leaders and ready to go to the next level in their career OR those who want to become leaders for the first time. Hire your own coach or join a group coaching program. You don’t need to wait for your organization to tap you on the shoulder to join a corporate program.
You can do this yourself. Take charge of your career! Gain the skills, knowledge, and confidence that can be provided for your individual needs with a coach.
It’s time to take action for yourself! Are you ready to take charge of your career? I would love to chat with you.
Click on this link (or copy and paste in your browser) for a complimentary introductory meeting to learn more: