Standard content for Members only
To continue reading this article, please login to your Utility Week account, Start 14 day trial or Become a member.
If your organisation already has a corporate membership and you haven’t activated it simply follow the register link below. Check here.
Only 6 per cent of utility companies in the UK believe they are "very effective" at retaining future leaders despite high levels of investment in development programmes, a survey revealed today.
Of around 200 senior managers surveyed by management consultancy firm Right Management, only 46 per cent said they are effective at retaining those with the skills and knowledge necessary for the success of their business.
That was despite more than nine out of ten senior managers saying their company invests in programmes to develop leaders and more than three quarters investing in programmes for individuals who have the ability to become the future senior leaders of their organisation.
Around 49 per cent of respondents said they believed those being groomed for leadership have been developed in such a way that will help their organisation achieve its business objectives.
The survey also showed that across utilities 36 per cent do not measure their success in retaining high value individuals and 25 per cent do not measure success with retaining their high potential future leaders.
According to research by the Chartered Institute of Personnel and Development, the cost of hiring a senior leader can go up to £100,000 in advertising costs and agency fees.
Please login or Register to leave a comment.