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Leadership skills are more important than ever in the global marketplace, and companies are focused on hiring and retaining qualified, talented leaders.

Staffing company Randstad interviewed 1,799 decision makers and human resources executives in 13 countries to compile the 2012 International Trends and Workplace Survey Report, which provides insights into the talent retention and development challenges and successes companies are facing around the world.

The Value of Leadership Skills

According to the report, the two main productivity challenges for 2012 are: developing leadership skills for the next phase of growth and filling in critical vacancies created by business expansion.

The managers interviewed in the survey identified the most important leadership capabilities as the ability to:

1. Motivate and inspire others
2. Adapt to changing business demands
3. Build a strong vision for the future

HR executives identified the top four challenges as:

1. Increasing performance and productivity
2. Developing talented leaders
3. Attracting talent for the next phase of growth
4. Avoiding losing top talent to competitors

How to Cultivate Leaderships Skills in the Workplace

Strong leadership within an organization is beneficial for everyone. As a manager, you want to have employees you can trust to be productive and effective, to make sound decisions and to stay with the company. Employees also want to sharpen their leadership competencies so they are given more responsibility, more training and development opportunities and more room to grow within the company. Here are three ways to foster leadership development in your employees:

1. Give them the reins.

To empower new leaders, you must be able to step back and let them take control of appropriate situations. Resist the urge to micromanage, but instead give them  challenges that require critical thinking and problem solving. Let them stumble and pick themselves back up again.

2. Use mistakes as lessons for growth.

Mistakes are an inevitable part of learning. Mentor employees during moments of failure, challenging them to identify what went wrong and how they could have handled the problem differently. Allow them to deal with the consequences of their actions, and focus on how they can use their newfound knowledge in the future.

3. Offer training and development.

Find ways to cultivate interests and expand skills in your employees. Invest in professional development as a means of encouraging employee retention and development.

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