Leadership development training a challenge for companies aiming to retain Millennials
According to Bersin by Deloitte, a leading research and advisory services firm, talent development is the second biggest challenge facing HR executives at organizations today. Bersin estimates companies spend more than $130 billion per year on employee development, with leadership development taking up the single largest area of spending.
According to the article, "The Secrets of Successful, Fast-Growing Businesses Today--and Plans for Tomorrow", in the September, 2016 issue of Inc. Magazine, 61 percent of the 2016 Inc 500 CEOs and founders prefer to develop employees by providing outside training. However, only 28 percent have a formal leadership development program.