PITTSBURGH, April 25, 2018 /PRNewswire/ -- Unleashing new forms of leadership potential is the single most pressing business issue currently facing organizations, according to global leadership company DDI. To address this growing problem, leadership experts Mark Busine, general manager, and Matt Paese, senior vice president of succession management & C-suite services, have written a new eBook, "The Revolutionary Guide to Rethinking Leadership Potential."
"There's been a radical shift in the way we work, and most companies are now under the constant threat of radical disruption in their industries," said Busine. "As a result, CEOs are more worried than ever about having the leadership to help their businesses adapt to these constant new challenges. Based on our research, we believe the only way for organizations to excel in this business environment is if they completely rethink their models for developing leadership potential, with a special focus on developing new and diverse sources of potential."
The "Revolutionary Guide" offers a research-supported view on why traditional methods of developing leadership potential are no longer sufficient for today's business environment. The authors present the argument that most initiatives designed to develop high-potential leaders focus only on a small group of people that have similar qualities to the organization's current and past successful leaders.
However, rapidly changing business challenges require organizations to be able to quickly call on leaders who offer a different and innovative way of thinking. To meet the new demands, Busine and Paese suggest that organizations surface, activate and accelerate potential at the individual, team and organizational levels.
"One of the biggest barriers holding back organizations is their narrow definition of leadership potential," said Busine. "Too many organizations are trying to recreate the types of leaders that have been successful in the past rather than developing leadership potential among people with a diverse range of skills, backgrounds and experiences. It's critical that organizations take a much broader view of leadership potential."
Busine's and Paese's approach is informed by research from the Global Leadership Forecast 2018, published by DDI, The Conference Board, and EY. The research showed that CEOs are more concerned about developing "next gen" leaders than they are about any other issue, including cyber-security, global recession, political uncertainty and other pressing issues. Furthermore, only 14 percent of CEOs say they have the leadership talent they need to execute their strategy.
The study also revealed that many organizations are waiting too long to develop high-potential leaders, with nearly half of organizations limiting their focus on leadership potential to leaders at the senior-most levels. But the research showed that organizations that extend their development of high-potential talent are 4.2 times more likely to financially outperform those that only focus on senior leaders. The research also showed that top practices that boosted success rates for leaders depended on creating fair, bias-free approaches to surfacing high-potential leaders.
About DDI DDI is a global leadership company that helps organizations transform the way they hire, promote and develop leaders at every level. With more than 100 industrial-organizational psychologists on staff, DDI has dedicated itself to the science and practice of leadership since 1970. Clients include half of the Fortune 500 and multinationals in every industry across more than 90 countries. To find out more information about DDI's leadership expertise, visit www.ddiworld.com.