While many levers are involved in putting strategies into motion — including communication and culture — the most powerful activator for a new direction is leadership. When leaders are committed to a shared future and buy into a common vision, they have an unrivaled ability to bring an organization’s full talent to life.

Despite reams of evidence of the powerful role leaders play in enabling an organization’s success, so many companies underperform on this front.

According to a Gallup study, less than 20 percent of leaders today were ranked as managing people at a high level. According to their estimates, this results in a $500 billion annual economic loss. It’s no wonder that CEO surveys find leadership development to rank among their most pressing concerns. The crisis of corporate leadership is real.