Thank goodness there are organizations like TD [Training and Development], Brandon Hall Group and DDI [Development Dimensions International]. Why? Well, they do the research that makes gives my intuition some acknowledgement; what I’m thinking…I should be thinking!
I just read an article that says that research proves “leadership talent is very difficult to source externally, with most executives worrying that they won’t have the talent needed to lead their organizations in the coming years.”
Talent: natural aptitude or skill
The Problem
The workforce IS stretched thin. In EVERY organization I have worked with over the past few years I see this is true. More and more work is being done by fewer people. Weekend work. Late-at-night work. Back to back meetings.
I had dinner with a senior leader two weeks ago in the suburbs of New York City who told me, “I have about 3 minutes to eat the sandwich my assistant brings to me at the desk. During the trading day, I might get up from my desk twice.”
With this “constant pressure” to be on, and no (or very little) relief in sight, it’s no wonder that executives are thinking about this topic of leadership development.
The Reality
The “Millennials” are the majority. According to a study on millennials in the workforce, this cohort is the biggest of all other cohorts right now. What does that mean?
At just the moment that senior leaders are wondering how to get MORE work done, you have statistics show up that “79% of millennials would consider quitting their regular job and working for themselves in the future.” Of more than 1,000 millennials who were surveyed, almost 70% said they see themselves in a management position with 10 years.
The Solution
Build a culture that is based on engagement by acknowledging what everyone intuits is true: Things ARE different now. Want to attract the world’s greatest talent? Want to get the most out of your employees and business partners? Want to retain the best of the best beyond the typical 2-4 year tenure?
Over and over again we hear that millennials value coaching, training and mentoring over cash and other monetary rewards. It DOESN’T necessarily mean we can pay them any less; but, it does mean that they’re looking for professional-skills growth and development opportunities while they’re earning a salary. The talent is out there; behind every college degree, behind every “active resume,” behind every startup (and even the failures). The question leaders must ask themselves is:
Will I be the leader who helps employees Get Momentum, feel engaged, and WANT to work here, giving us the best we have?
Well…Will you be that leader?