Tech layoffs. Supply chain delays. AI integration.

The global workplace faces a myriad of issues, many due to uncontrollable economic factors. But the world of work is also suffering from a deeper, more controllable condition—one preventing companies from addressing the newsier issues that dominate today’s headlines.

In the United States and abroad, workplaces have a leadership problem. Too often, business leaders view leader development as a “nice-to-have accessory” versus a core element of their corporate strategy, causing ripple effects throughout the entire office. More than 80% of businesses claim it is important to develop leaders at every level, but only 5% successfully do. According to one analysis of more than 1,000 global companies, over half devote under $500 per leader to development, with most cutting or neglecting their leader development budgets altogether.

That’s right: $500. Many companies spend more on espresso pods and granola bars than developing their leaders into truly impactful managers.

And we’re supposed to be surprised that turnover is high, especially among young people? Or that nearly two-thirds of employees have experienced a toxic work environment, with over 40% blaming leadership explicitly? Or that toxicity-induced turnover costs global businesses hundreds of billions of dollars annually?

How did we get here?

Why leader development continues to lag

In far too many workplaces, leader development—which is supposed to be a deliberate, continuous and progressive process that grows individuals into competent, committed professionals of character—is seen as optional. One example is executive coaching, whereby leaders are trained to become better communicators, clearer explainers, stronger (and more willing) listeners and more for those they lead. And yet, even when praised and championed, coaching and other leadership development programs are often slashed hastily when bad times come.

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