Solid Leadership Development Linked to Business Results
“Sustained, committed leadership development can be a key differentiator between the most successful manufacturers and the also-rans,” writes Steve Minter in the September 2010 issue of Industry Week.
In the article “Identifying Your Future Leaders,” Minter highlights leadership development efforts at General Mills and W.R. Grace. He also notes “mounting evidence” that shows the high-price companies pay when they don’t invest in leadership. He cites:
- A May 2009 study of large manufacturing organizations: “While 55 percent of companies with top-quartile profitability rated themselves ‘high’ in linking their people strategy to their business strategy, only 30 percent of the companies in the bottom quartile of profitability did so.” (Deloitte, The Manufacturing Institute, Oracle).
- A 2009 Hewitt Associates study showing a “link between financial success and leadership practices such as comprehensive succession planning and the dedication of senior leaders to talent development.”
- A 2010 study commission by the American Management Association that found a correlation between “global leadership development programs and improved market performance.”
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- Developing a Leadership Strategy: A Critical Ingredient for Organizational Success. CCL’s approaches to helping companies implement a leadership strategy that drives the business strategy.
- High-Potential Talent: A View from Inside the Leadership Pipeline. CCL research about how talent is reacting to the organizational development strategy.