This year, the youngest of the Baby Boomer leaders will turn 61, and simple demographics assures that the need to replace the exodus of these aging leaders will accelerate rapidly over the next four to six years.

But are organizations doing enough? Are current leadership development practices setting organizations up for a successful transition?

Studies by McKinsey & Company and J.P. Donlon have found a close correlation between the skills of a company’s leaders and market performance. However, research by Deloitte and the U.S. Federal Reserve show that return on assets (ROA) and productivity growth—both key measures of leadership success—have shown a steady decline since the 1960s. The data does not look good for the strength of our leadership capabilities.

Clearly, effective leadership is critical to success, and development of the next generation of leaders is at a critical stage. Now is the time to take stock of where you are and what you need to do to effectively prepare the next generation of leaders . . .

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