Companies may not have the leaders they need for future growth

Preliminary results from our global 2020 Workforce survey show lackluster leadership at many companies. Executives cite a lack of adequate leadership as a major impediment to building a workforce to meet future business objectives, and only about half say leadership at their company has the skills to effectively manage talent.

Perhaps unsurprisingly, employees agree that leaders have much room for improvement. Fewer than half of employee respondents say leadership is equipped to lead the company to success, and many do not believe their leaders can lead a global, diverse workforce.

The workforce of the future will be increasingly diverse, mobile, multi-cultural, and multi-generational. To succeed, companies will have to cultivate leadership to effectively manage—and reap the full benefits of—these changes.

Gaps in leadership capabilities could impede further growth

Preliminary analysis of our 2020 Workforce surveys shows that leadership is ill-equipped to deal with tomorrow’s—and even today’s—workforce issues.

Just about half of executives say that their leaders are prepared to effectively manage talent, and even fewer say their leaders are prepared to lead a global workforce.  Employees agree that leadership is lackluster—less than half say leadership is equipped to lead the company to success. Furthermore, employees do not believe that management values leadership ability in employees, meaning companies may not be developing future leaders within their organizations.

Executives and employee responses suggest a worrying lack of qualified leaders—but to be successful in the new multi-generation and -cultural workplaces, companies will have to equip leadership with the skills to lead global and diverse workforces.

2020 Workforce news roundup

CFOs Expect Labor Unrest Will Hit Economic Growth in Latin America (Wall Street Journal): A new study from Duke University and CFO Magazine found that nearly three-quarters of Latin American survey respondents say they expect strikes and unrest to affect their country’s over the next year—significantly more than respondents in any other region.

Singapore workers view job as just ‘way to make living’  (The Global Recruiter): According to a recent Randstad Workmonitor survey, three-quarters of respondents in Singapore say they are only at their job to make a living, and 80% say they would not hesitate to leave their jobs for more money.

Bridging the job skills gap around the developing world (Washington Post): The Results for Development Institute estimates that by 2030, there will be 3.5 billion people in the global workforce, 1 billion of whom will not have the necessary skills to find a job.

Yahoo, LinkedIn, Google: Not A Diverse Club (InformationWeek): Silicon Valley tech companies have finally released their workforce diversity stats—and the numbers are skewed.