The need for companies, governments, and organizations to develop comprehensive talent and leadership development programs that identify, retain, and disseminate key knowledge within their organizations is critical if they are to remain competitive in the years to come.
There is no doubt that the business of the future will need a more educated workforce. Therefore, companies need to train and prepare younger workers methodically so that they feel confident about taking on future leadership roles in their organizations.
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The greater the demand for the best talent, the greater the risk that your most knowledgeable and valuable talents will come out when they are presented with a better offer.
For this reason, smart companies are now developing their own talent funds that ensure a sustainable supply of a highly skilled and highly motivated workforce who are skilled and ready to take on increasingly complex roles.
However, developing talents and preparing them for leadership roles will take a lot of time and effort on the part of the organization, and the time to start this difficult process is now. How long will it take to develop new talent?
Experts suggest that it can take 12 to 18 months to bring a new leader or manager to a level where they consistently present themselves with the best skills at their job.
The bottom line is that companies need to work on an ongoing 18-month talent development and leadership development schedule and work overtime to ensure their talent pool is always full of new talent.