After surveying almost 1,500 HR professionals and more than 12,000 leaders from 76 countries, DDI's survey (as featured in Management Issues) reveals what it described as "major shortfalls in leadership development initiatives around the world".
- Although 75% of the executives surveyed said that improving leadership talent was a top business priority, just 40% were satisfied with what their organizations were actually doing to help them.
- Amost 60% of executives said that they and their manager had not agreed on a formal written plan for their development.
- Just 25% of organizations monitor their leadership development programs or formally measure their results.
- Another problem area seems to be succession planning, with only 50% of organizations globally have succession plans for their leadership team -- and US organizations even lower than the global sample.
Reason for the dissatisfaction? While executives want more opportunities to learn on the job, such as special projects or moving to a new assignment, their senior management seldom takes responsibility for making this happen.
BOTTOMLINE: According to DDI's president: "When times get tough, leadership skills are really put to the test and organizations with the right quality and quantity of leaders will weather the storm better than those less well- prepared. In the face of pressure to reduce costs, organizations must remain firm in their commitment to invest in leader assessment and development."