Around 80 per cent of the organisations in India are currently facing a leadership talent shortage either because the present leaders are on the verge of retiring or because millennials prefer to change jobs frequently, shows a survey.
While most organisations struggle to develop a team of effective leaders, those that do manage to create strong authority, face the risk of attrition, said the study by talent assessment firm Mercer-Mettl.
“These insights will enable both established and up-and-coming companies to identify and resolve leadership challenges. Moreover, they will be able to adopt relevant best practices to excel in the corporate world,” Siddhartha Gupta, CEO, Mercer-Mettl, said in a statement.
The survey was conducted across industries including Artificial Intelligence (AI) and Machine Learning (ML), telecom, commodities, trading, education, retail, media, and entertainment, among others.
A number of leadership development experts comprising over 500 respondents from more than 200 organisations informed the findings of the “Leadership Development Trends 2019” report, Gupta said.
The study showed that 49 per cent of the organisations treat up-skilling and re-skilling of their new and existing leaders as the primary objective of their leadership development programmes.