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Leadership Development Framework Improves Management Effectiveness
Technical professionals have improved their management effectiveness by up to 40 per cent through a leadership development framework designed by Julia Lessing, Head Of Lifelong Learning at the Actuaries Institute.
With Australia’s technical workforce expected to reach 1.2 million by 2030, the framework addresses a gap in leadership development for technical experts transitioning into management roles.
Lessing’s research highlights the financial impact of ineffective leadership. Underperforming teams experiencing productivity losses of 10-20 per cent could cost organisations up to $60,000 per year per technical professional. Poor delegation alone can lead to $10,000 in lost productivity over three weeks.
The Need For Human-Centred Leadership In An Ai World
As organisations integrate Ai technologies, technical experts must take on leadership roles to manage rapid change. While large language models can enhance analytical tasks, strategic thinking, communication and holistic decision-making remain key leadership skills.
Elayne Grace, Chief Executive Of The Actuaries Institute, said the importance of these skills continues to grow.
“As Ai technology advances, soft skills become even more crucial. STEM professionals who develop these skills are uniquely positioned to bridge the gap between Ai advancement and organisational success,” Grace said.
“This is why the Institute has invested in providing events and learning resources to support actuaries in developing these skills, beyond their pathway to qualification.”
Building Confidence And Capability In Leadership
Lessing, a qualified actuary and former Actuarial Educator Of Communication, Modelling And Professionalism, has tailored her leadership framework to help technical professionals transition effectively into management roles.
“Great technical leadership requires foundations that are both personal and professional. Meeting organisational objectives is key, but supporting well-being – both for managers and their teams – is equally important,” Lessing said.
“Our data shows that this framework consistently helps technical experts build both confidence and capability as they move into leadership positions.”
The Actuaries Institute will continue to provide learning programs and events to equip professionals with the leadership skills needed to navigate the evolving landscape of technology and management.
Last Updated on February 22, 2025 by Nick Ross
