Having the right talent in leadership positions through an organization is essential for business success. The global economic crisis to date is no exception. Talent management includes recruitment, assimilation/integration, assessing and feedback, development, rewards, and redeployment. It also involves strategic talent reviews, succession planning, and development for critical and senior level positions. During the current economic crisis organizations are focused to take a short-term as well as long-term view of the business and talent pipeline. In many cases, this has resulted in restructuring and downsizing of core business functions.

During the course of 2008, Lee Hecht Harrison has been connecting with various businesses from a wide range of industries and not-for-profit organizations to determine how talent management and leadership development is currently being managed.

As a result, the following trends have been identified. 

• Leaders have delayed retirements or moves to other companies due to the uncertain economic and job markets
  
  
• The workforce is aging with many companies facing 40-50% of the senior leadership eligible for retirement within five years and fewer currently qualified employees ready to assume senior positions
  
  
• Talent reviews and succession planning are increasing in popularity and importance with boards and executives being directly involved making it an enterprise-wide priority
  
  
• Emphasis is placed on critical skill and leadership roles
  
  
• Generation X and Y employees often lack leadership skills and experience to assume senior leadership role making them prime audiences for leadership development
  
  
• Coaching is increasingly recognized as an effective tool to support leadership development at all levels
  
  
• Utilization of blended learning strategies continues to increase
  
  
• Solutions need to be tailored, often integrated with internal and various external resources
  
  
• Learning and development are no longer viewed as events and training; they are viewed as continuous and focused on strategic talent, skills, knowledge, and mindsets
  
  
• Critical leadership behaviors include effective relationship building and utilization, communication, strategic thinking and acting, leading collaboratively, leading teams (in person and virtual), and coaching for optimal performance.

Organizations who deploy successful leadership development programs must consider these trends as part of their talent management initiatives. 

To learn more about how to develop a dynamic approach to leadership development that will increase ROI for your organization, contact LHH today at 1.800.611.4LHH or visit www.lhh.com.