Leadership Development in 2024: It’s Time to Get Real
The recent "Workforce 2024" report from Korn Ferry puts the spotlight on what employees really want and what leaders need to do about it. The big takeaways? Upskilling is non-negotiable, company culture isn’t just a buzzword, and if you’re not offering flexibility, you’re already losing the battle for talent.
Let's start with upskilling and reskilling. According to the report, 67% of employees would stay in a job they hate just to keep learning something useful. That’s right: they’d rather put up with a miserable job than stagnate. Leaders who ignore this are setting their teams—and themselves—up for a rude awakening. Your best employees will leave you and you will have no one who has the capacity or skill to pick up where they left off. So, if you’re a leader, don’t just throw training at your team and call it a day. Tailor your development programs to meet everyone where they are, and you might just keep your best people from walking out the door. And note, the best development programs are more than just training.
Next let's talk about your company culture. And no, it’s not about pizza parties. Listen, no one’s staying at a company for its ping-pong tables or themed Fridays. Company culture is about real stuff: trust, respect, and feeling like your leaders have your back. It’s what makes people excited—or at least willing—to show up to work every day. According to the report, toxic culture is a top reason employees want to bail. And spoiler alert: a good salary won’t make up for it. It may keep people for another few months but that's temporary retention and not engagement. If you’re not investing in your leaders, you are investing in failure. Leadership development should focus on the soft skills that are hardest to fake—empathy, communication, and authentic engagement. Your people need to know that you care about more than just the quarterly numbers. This is about the long game.
Lastly let's talk about how much flexibility your organization really has. Today, flexibility means autonomy, trust, and the power to design a workday that doesn’t suck. This report makes it crystal clear: flexible hours are almost as important as pay when it comes to keeping your people happy. If you’re not offering some form of flexibility, you’re basically putting up a “Go Work for My Competitors” sign on your door. Flexibility isn’t just about policies; it’s about mindset. Leaders who champion flexibility are saying, “I trust you. I trust you to get your work done.” If you’re clinging to the idea that butts in seats equals productivity, it’s time to rethink your approach. Embrace the new rules of work, or get comfortable with losing your top talent to leaders who do. While there are many industries where remote work may not be an option, offering flexibility in other ways can be heavily customized as long as you are consistent between individuals and areas.
Going forward, it's about adapting or getting out of the way. Building a culture that your team actually wants to be part of, and give them the flexibility to work in ways that work for them. The companies that get this right will thrive. The ones that don’t? Well, let’s just say your talent isn’t going to wait around for you to figure it out.
