We recently released a series of global trend reports, which captured insights from the data we collected from 25,000 leaders across 4 regions and 7 countries.
Those reports provided an overview of the key competencies required for leaders to be successful in each region and illuminated the capability gaps where development resources would have the greatest impact.
Organizations that understand the competencies needed for success in their regions and where the greatest gaps are can begin to craft leadership-development initiatives that deliver results. After we released the series, we offered a summary of key insights and synthesized what they mean for leadership development on a global scale.
Using that same database, CCL’s Leadership Insights & Analytics team will take a similar approach over the next few weeks using the big data we’ve collected on U.S. leaders in 6 different industries: healthcare, high-tech, financial services, government, pharmaceuticals, and energy. Specifically, we will release an overview of the key competencies required for leaders to be successful in each industry, along with the capability gaps that will likely need to be addressed.
Insights from these reports will help you design solutions that are relevant, useful, and impactful for leaders in your industry. Leadership development programs that focus on helping leaders comprehend and apply the competencies they need most to bring about results will have the greatest impact on the bottom line.
Healthcare leaders were least proficient in Leading Employees. Leading Employees deals with attracting, motivating, and developing employees. Given that more than 75% of leaders in healthcare are “at least proficient” in Taking Initiative, we recommend that they re-focus some of their attention on those they work with and manage. Research has shown that more interpersonal savvy leaders cultivate higher performance teams. View the Healthcare Leadership Trend Report.
Leading Employees was the fifth most important competency in Pharmaceuticals, yet half of leaders were not rated as proficient in this area. Leading Employees focuses on attracting, motivating, and developing employees. Leaders in Pharmaceuticals scored much better on Participative Management, which deals with involving others, listening, and building commitment. Though Leading Employees includes Participative Management, it is a broader competency that also focuses on recruiting talented employees, providing challenging development opportunities, and rewarding hard work among other key duties. Leaders in Pharmaceuticals should consider focusing more of their time and attention on these latter areas. View the Pharmaceutical Leadership Trend Report.
Leaders in Financial Services are proficient in several important areas (Strategic Perspective, Taking Initiative, Participative Management, Change Management), but less proficient in Building Collaborative Relationships and Leading Employees. And, bosses rated Building Collaborative Relationships and Leading Employees as the No. 1 and No. 3 most important competencies, respectively. Focusing on developing these competencies should create a strategic advantage for financial services organizations aiming to improve their leadership pipelines. View the Financial Leadership Trend Report.
High-Tech leaders were least proficient in a couple of areas that focus on working with others (Building Collaborative Relationships, Leading Employees). In fact, Building Collaborative Relationships was rated as the most important competency. Given that close to 80% of leaders in High-Tech are “at least proficient” in Taking Initiative, we recommend that they re-focus some of their attention on those they work with and manage. View the High-Tech Leadership Trend Report.
Building Collaborative Relationships is the most important competency for success in Energy, yet nearly 40% of leaders were not rated as proficient in this area. Several other competencies — Leading Employees, Participative Management, Change Management — center on working well with others on a day-to-day basis. A more dedicated focus on these particular competencies could critically improve a leader’s reputation and ability to build collaborative relationships over time. View the Energy Leadership Trend Report.
Government leaders were least proficient in Change Management and Leading Employees. Leading Employees deals with attracting, motivating, and developing employees. Change Management refers to the use of effective strategies to facilitate organizational change initiatives and to overcome resistance to change. Given that more than 80% of leaders in government are “at least proficient” in Taking Initiative, we recommend that they re-focus some of their attention on these competencies.View the Government Leadership Trend Report.
What can you do with the data we share?
CCL research has consistently found that leader competencies can be developed using 3 strategies:
- Challenging assignments that offer opportunities to practice new skills in the workplace;
- Relationships with other people who can provide feedback and support, including bosses and trusted colleagues; and
- Coursework and training focused on leadership competencies needed by your organization.
Once you understand the competencies needed for success in your specific industry and where the gaps are greatest, you can begin to design leadership-development initiatives that deliver effective results for your organization to make the most impact on your leaders.
After you’ve had the opportunity to review your industry’s report, here are some further readings that you might find helpful when digesting the information:
- Putting Experience at the Center of Talent Management
- Using Political Skill to Maximize and Leverage Work Relationships
- Women and Political Savvy: How to Build and Embrace a Fundamental Leadership Skill
- Analytics for Change: How Networks and Data Science will Revolutionize Organizational Change
- Duke University School: Leveraging Networks for Change