The Downstream Damage of the Leadership Skills Gap

Until leaders can get serious about their own development as managers, the skills gaps throughout their organizations will only continue to grow. Companies are struggling with a critical problem -- finding managers with the right skills to lead their organizations. This problem not only has damaging downstream effects for businesses, but it's also hurting the global economy. An analysis by job market analytics company Burning Glass Technologies found that management skills "represent one of the biggest skills gaps in the job market" and that managers have larger skills gaps than the people they manage. The Bank of England's chief economist has argued that poor management is the principal cause of the U.K.'s stagnant productivity.