Key takeaways from this article
If you commit to developing your current and next generation of leaders, you can expect to gain a real competitive advantage. Leadership development training can improve profitability, develop, attract and retain talent, help to drive the execution of strategy, and make it easier to navigate periods of disruptive change.
What are the top benefits of leadership development training?
Leadership development leads to sustained success
Leadership development training is not a one-off event. When leadership development training is embedded into an organisation, the benefits are ongoing. Over time, the culture of the organisation begins to change as more people undertake training. The workforce, particularly those in any kind of leadership role, becomes more creative and able to think strategically. Their communication skills are improved, fostering engagement and inspiring their teams.
Leadership potential is spotted and encouraged. The leaders of the next generation are developed in good time, making it easier for them to step up and take on responsibility when it’s required. The organisation becomes somewhere that people understand can help them to achieve their own personal goals. They also become more invested in the success of the organisation and they’re keen to play their own part in helping the company reach its targets.
Enhanced profitability
It’s a well-known commercial fact that companies that invest in their human capital deliver higher returns than those that place less emphasis on developing their staff. Leadership development builds the capacity that’s required to reduce costs, driving up productivity and reducing staff turnover. Effective leaders are able to identify new lines of revenue and seize opportunities. A more motivated team is better able to improve customer satisfaction.
Attract, nurture and retain talent
Leadership development is proven to foster greater employee engagement. Employees can see that the company cares about their development, and this can help motivate and inspire people to strive to become the leaders of the future.
Gaps in the talent pipeline can create real problems for organisations, increasing turnover, leaving key roles unfilled and adding extra recruitment costs. Companies with leadership development programmes in place are able to identify the leaders of the future and then ensure that they have the necessary skills they will need to step up into their new role.
It’s not only the ability to foster internal talent that matters. Great leaders create inspiring organisations that have a real competitive advantage when it comes to attracting, hiring and inspiring great people. A company that has a strong leadership culture finds it easier to attract and retain high calibre employees.
It’s also significantly less expensive for organisations to develop, coach and promote the right people internally over the long term than to hire them from outside. When people join the organisation they understand that with hard work and ambition they could reach a leadership position. The healthy, supportive and ambitious organisation culture that leadership training fosters is more likely to encourage people to stay within the organisation.
Develop and deliver strategy
The key to the success of any organisation is the ability to develop strategy and then deliver results. Any leadership training programme needs to be tailored to the overall strategy of the organisation. It should equip employees with the skills they need in order to implement strategic plans effectively. Leadership developments allow organisations to better shape their strategy and leadership culture.
Not only do skilled and effective leaders make strategy execution more likely, they are also more likely to develop better strategies. The confidence that leadership training can give to key players across an organisation can help to make it both more ambitious as well as realistic. Goals are set that can be achieved, but which also take the organisation forward.
Better navigate change
Technology, changing consumer behaviour and social turbulence makes this a time of fast and often disruptive change. Insurgent companies threaten the established markets and no company is immune.
To succeed in this intensely competitive and uncertain environment takes flexibility. The whole organisation needs to be able to adapt quickly, and this requires effective leadership.
Leadership training equips leaders to navigate change, helping to reassure employees and get them on board. Creative, flexible leaders are able to inspire and motivate. They can spot opportunities and then develop strategies to capitalise on them.
If a company wishes to survive and thrive in this competitive environment, then flexible, adaptive leaders are essential. The way to ensure that you have them in place is through leadership development.
Take the next step with Leadership Success
Leadership Success provides innovative leadership development programmes that can help your organisation enjoy the benefits of a leadership development game plan. Our leadership development experts focus on what each participant needs to develop their skills and reach their goals while supporting the overarching objectives of their organisation.
Our programmes are completely bespoke, enabling everyone to engage in their own individual development journey. There is a wide range of experts to choose from, and you can select specialists whose background and experience best meet your needs. We then work together to draw up a workable roll-out plan. Our team will guide you through each step of the process, from solution design to implementation and review.
We have a proven track record of success and on average we increase individual manager performance by 40%. When taken across your organisation, these kinds of improvements will deliver considerable benefits.
Contact us today to discuss your own particular requirements and to find out how we can help.
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