As the global economy recovers from recession, the competition for top talent has reignited. Companies that downsized during the economic downturn are now scrambling to rebuild their workforce.However, businesses that retained and nurtured their leadership talent during tough times are in a much stronger position.
The real concern lies with organizations that failed to prioritize leadership development during recessions—they now face a serious talent gap.Research shows that the average tenure of a CEO is shrinking.
Once typically lasting a decade, CEO terms now average between four to five years, and in some industries, they are as short as two to three years.This trend underscores an emerging leadership crisis, highlighting the urgent need for strong leadership talent and a structured approach to talent leadership.Talent leadership goes beyond simply training existing leaders; it involves proactively identifying, recruiting, and developing future leadership talent.