The Hindu Business Line : ‘Asia must groom business leaders to sustain economic growth’

Singapore, Sept. 10 With a large chunk of economic activity concentrated in Asia, it is time for organisations to harness the burgeoning talent in the region and focus extensively on leadership development.

Besides creating role models from Asia for future managers, companies need to implement more leadership development and mentorship programmes to create transformational leaders at all level, Mr Peter Ong, Managing Partner, The Gallup Organization, told Business Line.

“Our studies show that many organisations fail to grow rapidly and strongly because they have poorly prepared their leadership bench strength to sustain rapid growth,” he said, adding if this is not addressed, Asia may lose the global war for leadership talent. Gallup and University of Nebraska’s Global Leadership Institute had carried out a study to assess leadership situation in Asia.

The study was commissioned by the Ministry of Manpower, Singapore.

While 89 per cent of the CEOs provided mentorship when asked by their employees, only 23 per cent had formal mentoring programmes in place. The study also points that very few of these CEOs were driving strategic mentoring programmes in their respective organisations.

Mr Ong Ye Kung, Chief Executive, Singapore Workforce Development Organisations, said, “Leadership from Asia was thought to be accidental. However, with India and China achieving the status of superpowers, it is essential to have role models from the region.

“Organisational leaders may spend 90 per cent of their time running their organisations and 10 per cent of their time identifying and grooming the next leaders. But often, it is the latter 10 per cent of the effort that will help solve 90 per cent of our future problems.”

He said business barons like Mr Ratan Tata and Mr L.N. Mittal were perfect examples of global role models.

Employees who were surveyed believed that some of the leadership qualities include ability to adapt to rapid changes, emphasis on development and mentoring, ethical standards, besides being inspirational and aspirational in embracing diversity and creativity.

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