Deloitte recently released a research study reveals that despite the fact that over the past ten years companies have spent more money to train their executives the leadership development gap continues to widen. At a time when the demand for leadership skills is on the rise and leadership development programs often fail to deliver their promised results – what is the future of leadership development?
70% of Americans blame leadership crisis as a factor in the national economic decline.
- Center for Public Leadership at Harvard University
The challenge is to unlock the hidden potential of our future leaders. Do they demonstrate the skills necessary to transition from the autocratic management style to the higher demand democratic variation? Future leaders must be able to include the human side of business as they develop skills to truly proclaim their success as a leader.
Get ready--Six Leadership Development Trends for 2015!
1. Generational Difference Management
“One of the most important developments of the global leadership scene is the rise of Millennials, who will now obtain more leadership positions with high level responsibilities.” - Aon Hewitt
Today, companies face the growing challenge of generational differences. The “Boomers”, “Generation Xers” will soon be giving way for the Millennials as they migrate to the executive level. Beginning with the fact that they are the only generation that has grown up completely immersed in technology, so leadership styles and leadership development training will naturally be somewhat unique from previous programs.
2. Small Companies Will Invest More
Deloitte recently published a 2014 Leadership Development Factbook, where one of the main trends observed on the American market was the curious fact that the biggest investment boost for training leaders came from small businesses. As it turns out, in 2013 an average small company spent 23% more on leadership development initiatives than their larger company counterparts. This tendency is likely to continue, based on results of a recent SMB study conducted by the Lucas Group; “52 percent of respondents reported being somewhat or very optimistic with job growth prospects for their company. Of those surveyed more than half anticipated expanding their workforce in the next 12 months.” Workforce growth is a primary indicator for the continued need to develop leadership development
– investing in development will be seen as an excellent way to build the capabilities needed for the future.
3. A Globalized Approach