For years organizations have spent substantial time and money on improving the capabilities of their existing leaders and on nurturing their leaders of the future. Today, Leadership Development is a 17 billion dollar industry in North America but, for the organizations making the financial commitment, what’s the ROI?
Colleges and universities offer a myriad of degree courses on leadership; management companies are usually quick to wax lyrical about their ‘talent development’ initiatives and the cost of customized leadership-development offerings from a top business school can be in excess of $150,000 per candidate.
Clearly, the cost of leadership development programs can add up quickly but as companies continue to make the investment, is it really translating into meaningful improvements in business performance? At a macro level, for $17 billion are we really seeing industry awash with more great leaders than ever before?
Interestingly, when upward of 500 executives were recently asked by McKinsey & Co to rank their top three human-capital priorities, Leadership Development was included as both a current and a future priority and around 65% of the respondents identified leadership development as their number-one concern.
But why bother with Leadership Development when the rewards are far from guaranteed?
Join leading industry executives as we discuss the viability of Leadership Development, and how to realize an actual return on your organization’s investment.