The future of leadership is already acknowledged as a top key risk, but the fluidity of the workforce is something new, and this has significant implications for future leader development, so organisations need to get used to the revolving door.
Despite significant investment in leadership development programmes, 60 percent of companies report a leadership shortage and only 18 percent of HR professionals report strong bench strength to meet future business needs. Employees currently on leadership development programmes are not likely to be in the organisation when they’re ready to step into a leadership role and if millennials expect to have 25 jobs in one career how can HR plan for the known risks and be prepared for the unknown? The many influences on the changing nature of the workforce mean that companies need to mitigate their leadership risk in order to survive.
Organisations must move beyond the traditional internal career development path and focus more broadly on the skills the organisation needs to cultivate in its future senior leadership team, as a collective rather than individual roles.
Read Armstrong Craven's perspective in the online copy of TheHRDirector.Read the full article