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Talent development strategies private company leaders agree on
69%
report reverse mentoring as their organization’s leading talent development strategy.
71%
say the most important outcome of talent development programs is employee engagement.
87%
predict in-office events will increase in the next year at companies earning $500M+ in revenue.
Key survey takeaways
Leaders are being developed from within. The top three business priorities for private enterprises? Productivity (36%), leadership succession (33%), and hiring talent (32%). Therefore, more than 7 out of 10 private company executives expect their organizations’ use of apprenticeship or mentoring programs to increase in the next 12 months.
Desired outcome: Engaged, productive employees. Employee engagement and productivity emerge as important outcomes of talent development programs. Despite recognizing the implementation challenges, 73% of surveyed private company leaders expect investments in these programs to increase over the next year.
Company size influences talent development tactics. Larger, higher-revenue private companies emphasize in-person connection for their talent development programs. Meanwhile, smaller, lower-revenue companies invest in technology that supports collaboration and productivity to accommodate hybrid work environments.
Wolfe Tone, vice chair, and U.S. Deloitte Private leader
Many of the preeminent priorities among private companies are talent-centric, ranging from enhancing employee productivity to developing and establishing new leadership. Investments in talent development are the cornerstone of fostering an engaged and collaborative workforce while ensuring an organization remains competitive and is poised to adapt in the future. While learning and mentorship programs are important pillars to a workforce development strategy, components like well-being and employee satisfaction also play a part in establishing a workforce aligned to company goals and forward progress.