Self Leadership Coaching Blog

In Australia,  almost one half of organisations are not effective in finding and developing leaders, which identifies some critical challenges for employers if they are to take advantage of the economic recovery – this situation has been  revealed in a recent study by Drake International.

The report, Gearing up for Growth,  found that 44% of organisations rated themselves not effective in finding and developing leaders. Furthermore, improving retention of skilled employees was the most important people challenge facing employers in a growing economy. This was mirrored in the report’s findings that 72% of organisations expect to face skills shortages this year at the same time as accelerating staff turnover, with one-quarter of employees expecting to move employers in 2010.

“With economic recovery now gathering pace, as further evidenced by the IMF forecast, employers are recognising that they have a critical challenge to remotivate and engage their workforces [and] leadership will be one of the key drivers behind the growth that corporate Australia and businesses will have to focus on.”

Improving the retention of skilled employees was also top of the list of people management priorities for employers (94%). Whilst this is an Australian study, the same could be said of countries such as Singapore. This situation is partly caused by cutting back on leadership development during the downturn and so the wisdom of a strategic approach to leadership development is now evident.

Source: Human Resources Leader