New study from Brandon Hall Group highlights common pain points and keys to effective strategy
NASHUA, N.H.–(BUSINESS WIRE)–Skillsoft today announced the availability of a new Leadership Development Benchmarking Survey conducted by Brandon Hall Group, a leading global research and analyst firm. The survey reveals that the majority of organizations feel that their leadership development programs are falling short, with 75% ranking them as not very effective. The research also identifies the key advantages organizations ascribe to effective leadership development programs, including cost savings and key performance indicator (KPI) improvements, all supported by data related to strategy, training budget and program longevity. Skillsoft sponsored this exclusive research to provide the industry a better understanding of leadership development in organizations today. Skillsoft is a pioneer in the field of technology-delivered learning with a long history of innovation and delivering solutions for its customers worldwide, ranging from global enterprises, government, and education to mid-sized and small businesses.
The report, “Leadership: The State of Development Programs,” authored by Brandon Hall Group’s Laci Loew, principal analyst and talent management practice leader, and David Wentworth, senior learning analyst, discusses the changing nature of today’s leadership development programs. Based on in depth analysis of a broad spectrum real world data, the report offers strategic guidance to consider when evaluating next steps in refining a leadership development strategy or program. A complimentary download of the report is available online here.
“More and more organizations are facing a retirement boom, which will eliminate established intellectual capital and create a demand for new talent that possesses leadership skills,” said Laci Loew, Principal Analyst and Talent Management Practice Leader, Brandon Hall Group. “Our research shows that organizations are falling woefully short with their strategic leadership development programs, which will inevitably result in frustration and dissatisfaction amongst all employees and damage organizations’ ability to grow and compete. This is a wakeup call for organizations to invest in their leadership development programs now to address this widening leadership skills gap before it causes lasting damage.”
Brandon Hall Group’s research shows that organizations are dramatically more satisfied with their leadership development programs when a specific leadership development strategy is in place, spending on leadership development in the training budget is higher, and the leadership development programs have been in existence for five years or longer. Key findings from the 2013 Leadership Development survey cited in the report include:
- About 75% of organizations surveyed said their leadership development program was not very effective.
- Those organizations that did rate their leadership development programs very or extremely effective spent, on average, 60% more on leadership development than did organizations with programs rated slightly effective or not at all effective.
- Half of organizations have seen the leadership development budget remain stagnant and 20% have seen decreases. Yet those that have increased the budget are 65% more likely to have very effective or extremely effective programs.
- Nearly 63% of companies with formal leadership development strategies reported that the majority of their Key Performance Indicators (KPIs) had improved – 76% better than organizations with no strategy and no strategic plans in development.
“Our experience with organizations of all sizes across many industries consistently shows the need to establish formal, strategic leadership development programs. This research from Brandon Hall Group confirms this need and shows how the organizations that do embrace leadership development will have a leg up on their competition today and down the road,” said John Ambrose, senior vice president, strategy, corporate development and emerging business, Skillsoft. “We are proud to sponsor this revealing research from Brandon Hall Group and look forward to continuing to support organizations as they establish and grow leadership development programs that meet business goals and lay the groundwork for future talent successes. This research is an excellent tool for guidance through this process.”
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