The results of a recent global leadership forecast conducted by DDI that surveyed more than 2,600 organisations, make a compelling and unavoidable case for developing a culture of skilled leaders at every level in an organisation.
- Organisations with the highest quality leaders were 13 times more likely to outperform their competition in key bottom line metrics such as financial performance, quality of products and services, employee engagement and customer satisfaction
- Only 6% of organisations that rated their leadership as poor were in organisations that outperformed their competition versus 78% of organisations rating their leadership quality as excellent who outperformed their competition on bottom line metrics
- Retention of staff is directly impacted by leadership quality – those organisations with higher quality leadership were 3 times more likely to retain more employees than their competition and had more than 5 times the number of highly engaged leaders.
- Only 38% of leaders rated their leadership quality as good or excellent
- Over half of organisations state their top priority in the next year is to improve leadership skills
According to the study, high quality leadership has 3 key drivers:
- Leadership development: Including formal programmes (the top method used and deemed the most effective by 73% of leaders. 55% of organisations plan to increase their budgets in the this area in 2012
- Other talent management systems that build high quality leadership pipelines: the true value here is the quality of the discussion leaders have with their managers - Leadership Conversations
- Management Culture: those organisations with effective management cultures were two and a half times more likely to have passionate leaders and 3 times more likely to outperform their competition
The question then has to be asked…. what will you and your organisation be investing in this coming year in order to develop and release the leadership talent in your business?
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