One Third of Companies Lack Next Generation Leadership Bench Strength

June 6, 2014 – Thirty percent of organizational leaders do not feel their organization is ready to promote its talent, while 70 percent of executives feel their organizations are either ready now or somewhat ready, according to a report by Korn Ferry. Thirty-nine percent of those surveyed believe their organizations either mostly or fully have the right talent to succeed in today’s changing global environment and 46 percent believe the talent in their companies either mostly or fully have the right mindset required for global expansion. However, survey respondents, who hail from 49 countries, noted a focus on leadership ownership, or buy-in to the importance of a global talent management approach, as the biggest factor detracting from talent management efforts. Twenty-eight percent cited this as the top issue, with only 12 percent citing lack of budget/funding. "Global talent management is essential to an organization’s health,” said Andrés Tapia, senior partner, leadership and talent consulting, Korn Ferry. “While many executives believe their talent programs are effective, continued focus needs to be on the way that leadership candidates are being developed and their ability to seamlessly lead across borders.”