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According to a 2014 Study by the Kenan-Flagler Business School, the top challenges to Leadership Development are:
14. Managing the needs of the multigenerational workforce
13. Lack of support from senior leadership
12. Not enough stretch work assignments to provide development opportunities
11. Identifying high-potentials
10. Attracting top Talent
9. Determining future workforce needs
8. Retaining top talent
7. Lack of a formal structure
6. Lack of accountability for the application of new skills and knowledge to the job
5. Inconsistent buy-in across the organization
4. Linking leadership development back to the business strategy
3. Size of budget
2. Encouraging managers to develop their team
1. Balancing long-term and short-term business requirements
An interesting (and not terribly surprising) list that may seem overwhelming for those of you looking to Build Better Leaders in your organization. The good news is that the challenges listed above are not mutually exclusive. Focusing on addressing just one of the challenges above (if chosen strategically) can have a ripple effect and serve to alleviate several of the leadership development challenges that you face.
For example, consider the impact of how senior leadership support (#13) would have on things like budget (#3) and encouraging managers to develop their team (#2).
Looking for help with your Leadership Development challenges. Contact us for more information on how we help our clients Build Better Leaders.