83% of companies are seriously worried about their leadership pipelines. That’s understandable. The working population is getting smaller in size and younger in age. At the same time, global growth plans are expanding. Senior executives are wondering who will step up and lead satellite work units and/or cross-functional business teams.
Bersin says that identifying, nurturing and expanding the pool of potential leaders is a bigger focus than employee engagement right now. Yet, only 8% of HR leaders say they have strong programs to do so.
I saw that disconnect developing a few years ago when I wrote, “Addressing Tomorrow’s Leadership Shortage Today With Employee Recognition.” The advice I gave then is still valid today. I suggested that the seeds of leadership cannot take hold if employees are not aligned to your vision in the first place. If the employee (and that goes double for Millennials) doesn’t see how their daily efforts complement the bigger picture then they will not see themselves as part of the longer journey. I also pointed out that emerging leaders instinctually want to recognize others and need the tools to do so—tools like peer-to-peer capabilities and other social recognition components.
When it comes to identifying and expanding your leadership base, recognition can play a big role. If you are one of the many HR executives who are staring at a long-term leadership void and want to know a creative way to help close the gap revisit the white paper. Better yet, give us a call.