Study: Leaders Struggle With Burnout, Creating Possible Retention Issues
22 Feb, 2021
- CEOs are most worried about quality leadership talent being in short supply. The top problem worrying CEOs is developing the next generation of leaders. This issue just outranks facing the global recession and slowing economic growth, which just narrowly eked out attracting and retaining top talent. CEOs revealed that only 47 percent of critical roles can be filled by current leaders, and that they don’t have the leaders they need today or in the future.
- Organizations are facing a significant leadership quality gap. Leaders and human resources are divided on the quality of leadership in their organizations. Forty-eight percent of leaders rate their leadership quality as high, while only 28 percent of human resources share the same belief. As current leaders struggle to meet ongoing changes, HR professionals worry that they don’t have the skills to meet future challenges.
- Leadership bench strength hits an all-time low. In 2020, only 11 percent of human resources professionals said they have a strong enough bench to fill leadership roles. This lack of faith is caused by rapidly shifting markets and increased pressure to innovate and re-prioritize their needs.
- The future of work has arrived, but executives don’t feel prepared for it. The pandemic forced most organizations to quickly pivot to virtual workplaces. Only 20 percent of surveyed leaders believed they were effective at leading virtually. Furthermore, fewer than 30 percent of leaders said they received development for leading virtually, and the majority felt unprepared to operate within a highly digital business environment.