![]() Low engagement and high turnover are extremely costly for organizations, especially if the people jumping ship are high potentials in whom much has already been invested. The stats in other countries are comparable. In 2016 it hit a new high of 20.3% in the United States, and it’s much higher in the most attractive sectors. The average rate of employee turnover (of which about three-quarters is voluntary) has been growing steadily for the past six years. job-search website, 71% of employees are either actively hunting for or open to a new job, while 58% review postings at least monthly. And the problem cascades down: According to two comprehensive studies from, the most popular U.S. managers feel disconnected from their jobs and companies, while 55% are looking for outside opportunities. Recent research from Gallup shows that 51% of U.S. That limits these people’s advancement and eventually their engagement and, ultimately, leads to turnover. #SPECTRUM TV MISSING RECENT MENU HOW TO#Unfortunately, many organizations haven’t figured out how to fully develop their prospective leaders. In addition, 9% have what it takes to become competent CEOs. And when we look at how managers in our global database (who come from thousands of companies in all sectors and are mostly in the top three levels of the hierarchy) score on those four key hallmarks, we find that 72% of them demonstrate the potential to grow into C-suite roles. However, the other predictors- curiosity, insight, engagement, and determination-can be measured and compared. This predictor can’t easily be rated or compared meaningfully across individuals. For example, the leaders of a large charity and of an investment bank will need different kinds of motivation. This generally means a fierce commitment to excel in the pursuit of big, collective goals but, to a great extent, is contextual. At Egon Zehnder we’ve been measuring executive potential for more than 30 years, and we’ve identified the predictors that correlate strongly with competence at the top. The problem isn’t a lack of internal talent. #SPECTRUM TV MISSING RECENT MENU FULL#And at the world’s largest corporations- which each employ thousands of executives-a full 30% of new CEOs are hired from the outside. A mere 13% have confidence in the rising leaders at their firms, down from an already-low 17% just three years ago. According to research from the Corporate Executive Board (CEB), 66% of companies invest in programs that aim to identify high-potential employees and help them advance, but only 24% of senior executives at those firms consider the programs to be a success. Organizations around the world are failing on one key metric of success: leadership development. ![]()
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