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30% of organisations do not have a bench of next generation leadership, Korn Ferry survey finds

Thirty-nine percent of those surveyed believe their organizations either mostly or fully have the right talent to succeed in today’s changing global environment and 46 percent believe the talent in their companies either mostly or fully have the right mindset required for global expansion.

However, survey respondents, who hail from 49 countries, noted a focus on leadership ownership, or buy-in to the importance of a global talent management approach, as the biggest factor detracting from talent management efforts. In fact, 28 percent cited this as the top issue, with only 12 percent citing lack of budget/funding.

“Global talent management is essential to an organization’s health,” said Andr&eacutes Tapia, senior partner, Leadership and Talent Consulting, Korn Ferry. “While many executives believe their talent programs are effective, continued focus needs to be on the way that leadership candidates are being developed and their ability to seamlessly lead across borders.”

Tapia continued, “Effective global succession management requires companies to promote and develop people not only based on & lsquo;what they do’ but & lsquo;who they are.’ That means finding and developing leaders who have a blend of the right competencies and experiences, as well as the right personal traits, such as assertiveness, risk taking and logic plus motivators such as autonomy, status and challenge. When companies evaluate the full person, they will achieve greater success.”

The survey, which was conducted by the Korn Ferry Institute in March of 2014, covered more than 100 senior-level executives from 49 countries. The results were released at a recent gathering of Fortune 500 executives.

Survey results

• Is your organization ready to promote its talent?

a. Ready now

 

34%

b. Somewhat ready

 

36%

c. Not ready at all

 

30%

 

 

• Perceived barriers and derailers – what are the most important factors detracting from your enterprise’s readiness?

a. Leadership ownership

 

28%

(or buy in to the importance of global talent management)

b. Organizational structure

 

20%

c. Cultural factors

 

20%

(e.g., the organization manages things more independently by region)

d. Talent issues

 

18%

(i.e., don’t have the right competencies, experiences and dispositions to manage the talent effectively)

e. Lack of budget/funding

 

12%

f. Technology issues

 

2%

 

 

• Do you feel your organization has the right talent to succeed in this changing, global environment?

a. Yes

 

16%

b. Mostly

 

23%

c. Somewhat

 

34%

d. No

 

27%

 

 

• Does your talent have the right experiences to help it succeed in the current business environment?

a. Yes

 

27%

b. Mostly

 

47%

c. Somewhat

 

20%

d. No

 

6%

 

 

• Does the talent in your company have the right mindset required for global role expansion?

a. Yes

 

19%

b. Mostly

 

27%

c. Somewhat

 

38%

d. No

 

15%

 

 

• What competency listed below is most critical to the success of your global organization?

a. Values differences

 

6%

b. Develops talent

 

17%

c. Attracts top talent

 

14%

d. Drives engagement

 

15%

e. Interpersonal savvy

 

1%

f. Collaboration

 

17%

g. Communicates effectively

 

12%

h. Global perspective

 

11%

i. Cultivates innovation

 

9%

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