• Companies globally are struggling with internal leadership development. A vast majority of companies (86%) say developing new leaders is their top talent challenge

  • This challenge has a tangible financial cost. The average company leaves over $1 million on the table every year due to poor leadership practices. On top of that, these same companies are losing as much as 50% productivity.

  • It's also a huge competitive opportunity. Despite this lack of leadership pipeline, 61% of companies still report they offer no leadership training at all.
  • Employees want to grow. Nearly two-thirds (63%) of U.S. employees who quit their jobs in the past year did so due to a lack of opportunities for career advancement.

  • Employees expect learning and development programs. Opportunities to learn and grow has quickly become employees’ number one factor in determining a great work culture. 

  • Invest in employees and they will stick around longer. Nearly all (94%) of employees say they would stay at a company longer if it invested in their career. 

  • How much longer? When employees feel their company has excellent internal mobility options, they are likely to stay almost twice as long with that company — 5.4 years versus the average retention of 2.9 years.

Additional Source: Pew Research Center

 

  • Employers are starting to invest in L&D. Nearly half (48%) of L&D professionals expect their spending power to increase in the next year. That’s a six-year high. 

  • This will fuel a leadership development boom. Leadership and management training is the top priority for L&D professionals. 

  • Investing in development yields high returns. Employees who are given effective development opportunities see an increase in performance of up to 25%.