Follow the Leader(ship) Spending  

16 April 2018:

 As some wise cracker once noted and many have since repeated, the war for talent is over. The talent won.

Corporations are waving the white flag, recognizing that simply competing to attract the best and the brightest talent in the marketplace is not enough to maintain their edge. The scarcity of in-demand talent and high cost of attracting and retaining them makes that an expensive proposition.

Instead many are setting their sights on inside talent. Developing the next generation of leaders is the top priority for a majority of organizations, according to a recent survey of more than 28,000 business leaders conducted by The Conference Board.

Learning department spending plans reflect that priority. According to a data from the Chief Learning Officer Business Intelligence Board, 94 percent of learning organizations either plan to increase or keep their level of investment the same in leadership development.

Given that some estimates put leadership development spending as high as $50 billion annually, that’s a significant commitment of financial firepower to back up what many see as central to future success.

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