- “70% of executives say talent development is either important (43%) or extremely important (26%) to future growth.”
- “81% say that having the right talent has a direct impact on revenue.”
- “Only 34% today have formal processes for identifying and developing essential/exceptional talent.”
Recently I downloaded a Forbes Insight publication, “The Talent Imperative”, from which I’m quoting this data.
In another study by Human Capital Institute they reference the “urgent need for leaders” with imminent retirements in many workplaces.
The results identified in the studies aren’t a surprise to me, given recent conversations I’ve had with organizations around talent and career development. What is surprising to me is the apathy so many organizations continue to have around this critical issue, particularly in light of the significant outcomes organizations can achieve through career development initiatives.
In an earlier blog “It’s a simple equation”, I suggested some reasons companies hesitate to move forward with career development programs. I still believe the reasons I suggested in my earlier blog hold true, but I’ll add two more to the list.
- Crazy as it sounds; I sometimes think organizations are just hoping it will all sort itself out over time, without the need to take action.
- It takes courage and commitment to take action on something that is hard to define and hard to measure.
Sadly, the development issues you’re facing won’t go away by themselves. There is no quick fix for the development needs that exist within your organization today. I encourage you to follow the lead of some of the more progressive organizations and take the leap.
If you’re interested in understanding where your company sits today with respect to career development, we’ve developed a diagnostic tool you can use to quickly identify where you are at present, and what you need to do to move your organization toward a culture of development. Send me a note and I’ll be happy to send you a copy.