Magazine article HRMagazine

Leadership Development Spending Is Up

Magazine article HRMagazine

Leadership Development Spending Is Up

Article excerpt

For the second consecutive year, U.S. organizations boosted leadership development spending by an average of 14 percent, totaling an estimated $15.5 billion in 2013, according to research by Bersin by Deloitte, an HR consulting company.

The biggest increase in investment came from small businesses, which on average spent 23 percent more on leadership development initiatives in 2013 compared to the previous year. Large and midsize companies reported moremodest increases of 4 percent and 5 percent, respectively.

"It's really not surprising because there are such big gaps today," says Kim Lamoureux, vice president of leadership and succession research at Bersin by Deloitte.

Companies are still recovering from cuts made during the recession. Plus, leadership is so much more complex today, she says.

Companies with highly developed leadership programs outperform their competitors, Lamoureux says. Their business results are typically seven times greater, and they are 12 times more effective at accelerating business growth than companies with weak leadership programs.

The research also found that:

* First-level leaders receive the lowest per-person share of leadership development funding. …

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