In today’s tight labor market, job-hopping has become a common practice. Research shows nearly half (46%) of professionals are considering quitting their jobs this year in pursuit of better career opportunities, a figure higher than the 40% who said the same ahead of 2021’s Great Resignation.
Business and HR leaders often frown upon this job-hopping behavior, yet many fail to recognize that their own management practices contribute significantly to this trend. A recent survey from Brightmine revealed nearly two in five organizations are admittedly not effective at identifying and nurturing employees that have leadership potential. This oversight also extends to identifying growth opportunities for current leaders, with many organizations reporting deficiencies in their leaders’ communication skills (61%), ability to motivate employees (46%), and emotional intelligence (43%).
Employees today demand opportunities for upskilling and career growth. Therefore, to attract and retain top talent and ensure long-term organizational success, it is imperative for business and HR leaders to proactively address this leadership development gap by creating clear pathways for skills development, implementing mentorship programs to foster growth and knowledge-sharing, and utilizing leadership assessments to identify and nurture emerging leaders.
Leaders are the backbone of any organization, entrusted with the responsibility of guiding their teams to success. To fulfill this role effectively, leaders must possess a robust skillset comprising effective communication, problem-solving, and emotional intelligence. However, leadership prowess is not inherent. It requires continuous development and honing, especially in today’s ever-evolving world of work.
Organizations play a crucial role in translating leadership potential into action and helping employees to develop and refine their leadership skills. Yet, according to Brightmine’s survey, less than half (47%) of companies have formal leadership development programs, highlighting a significant gap that must be addressed.
Companies should have practices in place to ensure that employees with leadership potential receive ample opportunities to develop their skills. This includes offering continuous learning opportunities, such as interactive training workshops, online management courses and leadership seminars, as well as providing employees with the chance to work on cross-functional projects so they can acquire diverse skills and a broader understanding of the company. By investing in comprehensive development programs, organizations can not only strengthen their leadership pipeline, but improve overall employee engagement, productivity, and retention rates.
As business and HR leaders introduce these leadership development programs, it is important they recognize that not every leadership quality is of equal value. A deficit in some qualities may be tolerable, while other weaknesses can have deeper consequences. According to Brightmine’s survey, companies with leadership deficits in areas of integrity and ethics, emotional intelligence, conflict resolution, and innovation and creativity saw the sharpest decline in business outcomes. Therefore, leaders should tailor programs to focus on these high-impact skills, while also allowing room for individuals to enhance their natural strengths.
Beyond supporting the development of employees with leadership potential, it’s imperative for organizations to empower experienced leaders to play an active role in talent identification and development.
Managers are the closest point of contact for their direct reports, making them uniquely positioned to recognize top talent within their workforce. Their daily interactions provide valuable insights into employees’ skills, potential, and contributions. Despite this, not every organization is effective at using this vantage point to feed into their leadership development strategy. Research indicates nearly half of employees (46%) do not receive adequate career support from their managers and, alarmingly, 25% say this lack of guidance will likely drive them to quit within six months.
It is critical that organizations harness the first-hand knowledge of managers to deliver on employees’ expectations for career support and mentorship. By encouraging managers’ active involvement in leadership development initiatives, companies can not only cultivate a ripe pipeline of future leaders, but also enhance employee satisfaction, productivity, and engagement—which ultimately contributes to more successful talent attraction and retention long-term.
Gallup research shows employees with a mentor are more than twice as likely as those without to say their organization provides a clear plan for career development. Additionally, 91% of workers who have a mentor report being satisfied with their jobs, including 57% who are “very satisfied.” Among those who don’t have a mentor, each of those numbers drop by double digits.
Despite several studies proving the tangible benefits of mentorship, Brightmine’s survey reveals only about half of organizations offer mentorship programs to guide the development of leaders—and of those, just 9% make participation mandatory for leaders, whereas 41% leave it optional.
It’s time for organizations to address this shortcoming, as empowering employees to take charge of their own growth and support in the development of their colleagues will ultimately lead to greater success for the entire organization.
While upskilling and mentorship are undeniably crucial for effective leadership, cultivating self-awareness is equally critical. Leaders who possess self-awareness are better equipped to understand their own strengths, weaknesses and values, allowing them to navigate challenges with greater insight and authenticity.
According to Brightmine’s survey, 76% of organizations include some evaluation of strengths and weaknesses within a leader’s performance review to promote self-awareness and encourage workers to achieve their highest potential. However, there’s an opportunity to go beyond this.
To further promote self-awareness among aspiring and existing leaders, organizations should consider utilizing tools like 360-degree assessments, in which feedback on an individual’s performance is collected from multiple sources, including their boss, peers, and direct reports—and, in some cases, people outside the organization, such as customers. These assessments allow leaders to see themselves as others see them and provide employees with more personalized action plans for continuous improvement.
Employees today increasingly seek leadership development opportunities, recognizing their importance for career advancement and personal growth. However, many companies are currently failing to meet this demand. Organizations must bridge this gap and invest in comprehensive development programs that enhance leadership skills, offer mentorship, and foster self-awareness. This investment will result in a more resilient, adaptable and happier workforce, helping organizations retain talent and foster long-term growth and stability.
Amanda Czepiel is Head of Content at Brightmine.
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