Georges LeMener, CEO of Accor North America, takes talent management very seriously. He spends a third of his time on workforce development, including the time he spends teaching monthly executive training courses, and working with HR on coaching and management issues.

LeMener is part of a trend of CEOs who are spending an increasing amount of time and energy on talent development. Corporate leaders are realizing that developing talent can have an effect on the company’s bottom line. A study conducted by the Economist Intelligence Unit and Development Dimensions International found that executives are much more avidly pursuing workforce development than in the past. Succession planning, 360-degree feedback and talent-development programs are an integral part of their company’s strategy and CEOs also take the time to personally write out performance reviews for their direct reports.

Many of those who responded to the survey say that they are still struggling to show a direct correlation between workforce development and a return on investment, even though they know that the returns are there. Lucy McGee, director at Development Directions International says that talent management should always be undertaken as a comprehensive strategy, and not approached piecemeal. She believes that having CEOs engaged in talent management is a move in the right direction.