Talent issues have weighed heavily on leaders this year, overshadowing other concerns such as economic uncertainty and the performance of competitors, according to the latest report. Predictions of global leadership From Development Dimension International (DDI).
Based on a global survey of HR professionals and leaders in several major industries, DDI research has been helping talent acquisition professionals better prepare for the challenges ahead since 1999. However, this is the first time in the history of the survey that the issue of staffing has been uncovered. Top 3 CEO concerns.
Looking ahead to 2023, CEOs are most concerned about attracting and retaining top talent, with 59% citing this as their top concern. His two other top concerns were developing future leaders (50%) and keeping employees engaged (45%). These concerns outweighed concerns about digital transformation (40%), global recession (37%) and competitiveness (34%).
Talent conflicts arise from incompetent leaders
More than half (54%) of survey participants said their company’s turnover rate had increased over the past year. And interpersonal skills can have a lot to do with it, too. He was 3.5 times more likely to say he wanted to leave the company within the next year if the leader lacked effective interpersonal skills.
Companies looking to retain employees and increase their chances of attracting top talent may need to take a closer look at their leadership culture and focus on building better relationships with their teams.
Tomorrow’s Leaders Are Ready to Train Today
Today, only 4 in 10 leaders say they have high-quality leaders in their company, and the next generation of leaders isn’t promising for most companies.
Over the past decade, the percentage of HR professionals who say they have strong people to fill leadership roles has dropped by 33%, and this year, only 12% of companies expressed confidence in their leadership. But only a fraction of them are benefiting from investing in finding and developing future leaders. These companies were 10 times more likely to have highly rated leaders, 6 times more likely to hire and retain top talent, and 5 times more likely. You are more likely to prevent employee burnout.
It is therefore clear that providing employees with a path to leadership and the resources to get there will not only help them fill future leadership roles, but will also increase engagement and reduce turnover.
Flexibility, trust and purpose keep leaders engaged
Beyond growth opportunities, DDI’s forecasts reveal several factors that influence leader engagement and retention, including:
- Flexibility: Companies need to recognize that the lack of flexible working options can erode the ability of good leaders. Leaders were 1.3 times more likely to plan to retire within the next year if their company did not support flexible work opportunities. He was even higher for leaders under the age of 35, who were 2.2 times more likely to leave due to lack of flexibility.
- trust: Only 32% of leaders say they trust senior leaders. People who trust senior leaders are three times more likely to come up with new ideas and solutions than her, so trust translates into employee engagement. Ways senior leaders build trust include showing weakness and admitting their own failures and mistakes.
- the purpose: DDI research shows that leaders who have a strong sense of purpose in their work are nine times more likely to find their role rewarding and plan to stay at the company for at least another year We found it to be 2.4 times more likely. But many leaders lack that sense of purpose. More than 60% of his executives and more than 55% of his senior-level leaders feel their work is meaningful, while 47% of mid-level leaders and 47% of their mid-level leaders say the same. Only 41% of the leaders were.
For more insights and strategies for engaging and developing leaders, read this year’s full story. Predictions of global leadership.
