Every medium or large business invests in leadership development in one form or another. The question is whether these are sound, strategic investments or a risky gamble. Poorly directed leadership development initiatives impact your organisation at both an individual and business level. Unengaged leaders, at all levels, increase your risk of staff turnover, whilst inadequate development programs result in potentially wasted costs and unrealisted opportunity.
Australia businesses often find effective leaders in short supply; this would suggest that effective leadership developmet is paramount to meeting business' outcomes. Companies recognise this, and in most organisations more money is spent on leadership development than on any other human capital initiatives. While most companies recognise the importance and impact of leadership development on business outcomes, very few are clear on how effective their leadership development programs are.
"Only 9 percent of organisations have highly effective leadership development programs."1
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