We’ve heard all about the skills gap. It’s become an increasingly hot topic as the shortage of talent only seems to grow. But looking even further ahead, companies are now beginning to recognize, and face, the impending leadership gap. Although this may not be a well-known term now, we’re betting that it soon will be. It won’t be long before Millennials make up the majority of the workforce, which means that many of them will be stepping into leadership positions in the near future. In fact, by 2030, Millennials alone will comprise three out of every four individuals in the U.S. workforce.
So what does this mean in 2018? It means that forward-thinking companies are currently looking into leadership development programs, like MIAD’s Designship, to develop and train future leaders as more and more Baby Boomers start to retire. One of the biggest mistakes a company can make is failing to recognize the leadership potential that already exists within the company. Many times it’s just a matter of proper training to pull certain qualities out of an employee, and that’s where these programs are key. Because once completed, there’s something powerful, and even comforting, knowing you have the ability to tap into the talent pool you’ve created and built from within.
On the flip side, forward-thinking Millennials are jumping at the chance to fast-track their rise to the top. A leadership development program is their chance to learn about the ins and outs of the company from the start. From early on, their eyes are opened to ways that they can think and lead differently, and they begin to recognize their own potential to shape the future of the company. Not only are they learning critical soft skills, but they realize they really have something to offer the company, and this investment and passion for the company will pay off twofold down the line. In fact, a recent study showed that employees who are “engaged and thriving” are 59 percent less likely to look for a job with a different organization in the next 12 months.
So yes, a leadership gap could be in the cards for many companies in the near future. But with the right tools, your company can actually thrive in an ever-changing workforce. For more information, contact the Designship team today to see how you can become involved.