Although Australia is ranked alongside the world’s best-developed countries for leadership talent today, it is facing a leadership time bomb. Recent studies show that countries such as Egypt, Mexico and Turkey have the greatest source of leadership talent for tomorrow. Rising education standards have a role to play in this shift of leadership talent, along with a new entrepreneurial spirit. These countries have enormous growth opportunities, if they learn how to develop this potential.
To remain competitive in the long term, Australian organisations need to invest today in their leadership pools of the future. Investing in learning and development remains one of the most effective ways to cultivate future leaders.
Australian organisations need to begin with developing better intelligence about their existing pool of leadership talent. They also need to identify opportunities outside their domestic markets. Identifying internal and external leadership talent pools is an essential driver in developing effective development and talent mobility programs, and will become increasingly important for organisations wanting to remain competitive in global markets.