Nothing is more important to a company’s longevity than the selection and development of its future leaders. Yet leadership remains the top talent issue facing organisations around the world.
A recent Deloitte study found 86% of HR and business leaders rate leadership as one of their most important challenges, suggesting a “staggering capability gap” in talent pipelines. In a survey by the Wall Street Journal, Jay Hooley, chairman, president and chief executive of State Street Corporation, lists “finding and retaining the best talent” as number one on the to-do list of today’s CEOs.
Hudson, too, has research with similar findings. In the Hudson Leadership Survey 2015, a survey of over 100 HR professionals across Australia and New Zealand, 92% of respondents agreed that leadership is important / very important to business success.
Despite this, Australasian companies face a looming leadership gap, with research suggesting that almost half are operating without a leadership strategy in place.
Why your business needs a plan for leadership
Few dispute the business case for good leadership. But without a clear plan, having strong leaders comes down to luck, not design..
A leadership strategy essentially provides the link between what a business is trying to achieve and what its people need to do to get there. It evolves with the business, defines what good leadership looks like in that organisational context and informs what kinds of leaders are promoted, hired or developed. It provides a framework for the traits that leaders need to have to be effective within the organisation.
Hudson has explored the question of what businesses require of their leaders, and how organisations can strategically map, plan and develop their talent arsenal, in great depth.
Based on our findings, we have developed a leadership model for today’s organisations and created a powerful interactive forecasting tool the Hudson Leadership Blueprint, so that businesses can develop and invest in their businesses by building leadership capability and succession planning.
Hudson 2015 Leadership