U.S. organizations boosted leadership development spending in 2013 by 14 percent for the second consecutive year, spending $15.5 billion, according to research by Bersin by Deloitte.
Even with these increases, however, the study suggests that leadership development is still generally an underfunded corporate initiative.
"The new research shows that the overall pipeline for leaders is weak, despite the efforts within many organizations to improve succession planning," the study said. "Poor succession planning has widespread implications for costs, retention and overall organizational performance. Large organizations are especially guilty of not 'priming the pump.'"
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Dan Cook
Dan Cook is a journalist and communications consultant based in Portland, OR. During his journalism career he has been a reporter and editor for a variety of media companies, including American Lawyer Media, BusinessWeek, Newhouse Newspapers, Knight-Ridder, Time Inc., and Reuters. He specializes in health care and insurance related coverage for BenefitsPRO.
