Many organizations today are finding that they don’t have the right talent or enough talent in their organizations to be successful. If you have experienced this, you know it is frustrating, challenging, and can drain energy and emotion in trying to execute daily business responsibilities.
This past week, there was an article in the Wall Street Journal by Joe Light titled: Leadership Training Gains Urgency Amid Stronger Economy. In the article, Mr. Light discusses how many organizations have cut spending on leadership development initiatives over the past two years during the economic downturn. Now that the economy is starting to recover, these organizations are worried they will experience the exodus of baby boomers and retirees as their investment portfolios start to recover. Many organizations are finding they simply don’t have the leadership pipeline within the organization to fill these leadership roles as companies shift towards a growth focus. This scenario leaves any organization vulnerable to the competition. Add to that the severity of the economic downfall and it only compounds the challenges further.
For individuals who work in the learning and development industry, this news and information is nothing new. For many other individuals this may be a shocking surprise. Organizations need to spend more money to develop talent to drive the business. Remember, half of your assets do not show up on the balance sheet – your people. Organizations spend thousands of dollars on computers, specialized software, mobile phones, and office space. Why not spend a few hundred dollars developing your people to maximize performance and drive bottom line results. If you have not already done so, think plan, and act to develop your high-potential leaders.
Tags: Good leadership skills, leadership, Leadership Development, leadership skills, Leadership Training
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