Time to Focus on the Future — 4 Compelling Reasons to Invest in Leadership Development
How are you doing one week after the election?
While you or some of your colleagues are likely feeling one way, of course, there are others in your orbit who are feeling the opposite (happy / relieved / angry / anxious). Even though there is a clear Presidential winner, we know that not everyone is going to now be united as we move forward. Likely opposite again.
If the emotional atmosphere on your team is still concerning, or if it continues to cause you worry as the country moves forward under a different administration, this recent article from HRB has good insights about how to manage a team with conflicting political views.
How you feel about the future is important, of course, AND knowing what you CAN control is also important. That’s why the opportunity NOW is to focus on the future. The next few months leading up to 2025 in particular, then in the new year and beyond.
You may not know how the nation will grow and change over the next 4 years, but you CAN know how you and your team will! Now is the time, leaders, because some of the year’s uncertainty has subsided. Yes, I know that more uncertainty will certainly come, but as 10X Happier Author Dan Harris notes “action absorbs anxiety.” So in order to gain some control over what the future will bring, take some action and plan to invest in your own development and that of your staff and team (especially now, if your company is in the process of budget and strategy planning for 2025).
Here are some compelling reasons for going to bat for those extra ‘talent development’ dollars for future investment:
🧐 Research is pointing to a looming skills gap in today’s workplace, according to McKinsey. In addition to AI and technology advances playing a big role, organizational shifts are also creating the need to accelerate upskilling. In a recent Gallup study:
- 64% of surveyed managers say their employees were given additional job responsibilities in 2023.
- 51% said their teams were restructured.
- 42% have had to adjust to budget cuts.
(Sound familiar?) This has resulted in slower productivity and momentum as companies spend lots of time and money to bring in new talent or have to delay deadlines due to budget cuts and staffing freezes. Rather than searching outside for new skill sets or simply waiting until you can increase your headcount, why not try unlocking the full potential of the talent you already have?
Excellent learning and development opportunities with clear career advancement opportunities and processes are #6 and #7 of the top 18 reasons why people stay in a job, according to Korn Ferry’s Workforce 2024 survey of professionals around the world. The survey is designed to answer the question “what do people want from work?” Lack of career advancement opportunities ranks second out of 5 top reasons that make people want to leave.
71% of American CEOs admit they don’t believe their success is deserved or been legitimately achieved as a result of their own efforts—a common phenomenon known as Imposter Syndrome. And 65% of senior executives affirmed the same. More broadly, 47% of all employees who identify are stretched beyond their abilities. This might suggest that companies are not investing in the right kind of leadership coaching and training, or promoting people without giving them the tools they need to succeed. Where are you in the mix?
When basic needs such as adequate pay and health benefits, coupled with feeling fulfilled with the work and security about the future are all met, then 3 additional things will allow employees to ‘thrive’ according to OC Tanner’s 2025 Global Culture Report:
- Skill Building
- Career Development
- Flexibility
These are just a few of the well-researched reasons why investing in talent growth and development FOR THE FUTURE is the right thing to do. I hope you will agree.
If you are ready to invest in your future, or the future of your team, book a discovery call with me and let’s talk about how to do that!
Warm Wishes,
Loretta Stagnitto
