Corporate America is a leadership crisis!
According to survey results from Society for Human Resources Management (SHRM), the critical leadership skills, needed now and in the next ten years are:
- Leadership and Navigation – the ability to direct and contribute to initiatives and processes within the organization
- Communication – the ability to exchange effectively with stakeholders
- Relationship Management – the ability to manage interactions to provide service and to support the organization
- Business Acumen – the ability to understand and apply information to contribute to the organizations’ strategic plan
Most CEO’s believe that hiring workers who can masters key competencies is important to their organization’s success. The challenge is to help employees develop and grow within the organization.
Competencies are the “individual characteristics, including knowledge, skills, abilities, self-image, traits, mindsets, feelings, and ways of thinking, which, when used with the appropriate roles, achieve a desired result” according to the SHRM survey. Leadership and navigation were the most important competency now and in the future for success in organizations, but 4 in 10 CEO’s say that candidates lack this competency. Communication was the second most important competency for CEO’s now and in the future.
In today’s talent market, companies need to invest in developing their leader’s competencies in order to remain competitive. The ways to do this is by training, professional development, coaching and/or mentoring, reassigning staff and providing challenging assignments.
Reference: Schramm, J. (4/1/2016). Survey: Employees Lack Critical Competencies