News: Only 26% leaders are equipped for future of businesses: Report

Leadership Development

Only 26% leaders are equipped for future of businesses: Report

The Korn Ferry's global report on leadership, takes the view of investors and analysts on leadership of companies and highlights some interesting trends. Read here a few insights from the report.
Only 26% leaders are equipped for future of businesses: Report

As per Korn Ferry's latest global report on leadership, Investors on average believe that only 26 percent of leaders in India are skilled enough to lead in the future of businesses. 

The investors who participated in the survey are from asset and investment management companies with global assets under management of over $1 Bn covering sectors like financial services, business services, technology, media and telecommunications and manufacturing.

The fact that these investors with all the money, think that majority of the leaders are not prepared for the future of businesses highlights the urgent need to develop a pipeline of future-ready leaders.

As 72 percent of investors believe that traditional and legacy leadership will not be fit for the future, the organizations and the leaders themselves have to work on identifying and building a new legacy of leadership styles that works for the future. 

One way in which organizations can prepare more prepared leaders, the report suggests is through identifying high performers. 

The report says that organizations have to give them the opportunity to become self-disruptive leaders. 

Further, the report added, “To capitalise on an increasingly disruptive world, companies must accelerate their identification, recruitment, retention, development, and promotion of leaders with self-disruptive potential at all levels of the business.”

However, the challenge is how do leaders and organizations predict the future of work, identify the forces that are to disrupt and change the way they work. Most organizations are still on this stage where they haven’t yet been able to decipher how the future is going to change and impact their business. As organizations move from this stage of awareness, they then often get stuck on the next stage, where they don’t have the necessary guidance to help them prepare for the disruption. 

The solution is simple. Leaders have to take the responsibility of improving themselves and help others and their businesses become future-ready. By taking the ownership to improve their own skills and knowledge they can be the ones leading the change. 

The constant curiosity to learn about how the world around is changing and the contant effort to learn and develop skills alligned with these changes, are the primary steps towards building future-ready leadership and business. 

Topics: Leadership Development

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