Here is an interesting number about leadership that we have not usually heard: a lack of leadership capability costs U.S. corporations up to USD 550 billion annually, estimated by Gallup. In 2016, a Gallup poll showed that only 18% of managers demonstrate a high talent for managing others – meaning a shocking 82% of managers aren’t very good at leading people. Another figure published by Hogan Assessments says that 75% of employees considered their boss “the worst part of their job.”
Conversely, Delloite estimates that USD 46 billion is spent on leadership development programs worldwide. However, data from the Corporate Leadership Council says that these dollars spent on improving the leadership skills of managers and CEOs have improved productivity by a measly 2%. So, bad leadership is a trillion-dollar problem in a world that is trying to recover from the global pandemic.
Now, what is bad leadership? Though we cannot define bad leadership, we can assume that it happens when the leader, instead of motivating and driving the workgroup, harms the employees morally, sets goals that benefit only him, demotivates the team, and affects the company performance when it comes to achieving a strategic plan. Successful leaders, on the other hand, would always look to avoid making mistakes. They are known for raising the company’s aspirations as they look for intersections where the business and the market meet. In a nutshell, a great leader is an excellent futurist and thus can define the right vision.
In this issue, we celebrate the success of great leaders around the world by identifying the 10 Most Influential Business Leaders – 2022, who are excellent decision-makers with outstanding capabilities to engage stakeholders and team members. On the cover, we feature Lisa Gable, who, in her close to four-decade-long career, has played many key roles: Keynote Speaker, WSJ Best Selling Author, Presidential, Secretarial, and Gubernatorial Advisor, U.S. Ambassador, UN Delegate, Corporate Executive, with Leadership at the Highest Levels of Business, Government, and Military Sectors, Board Member, Public Speaker, Commentator, and Public Private Partnership Expert.