Clients often ask about the benefits of a formal leadership development program for their top-talent leaders. It's a valid question, as development programs come with a price tag of time and money. But it's also a long-term investment in your people and your organization. Here, we explore five of the benefits that leadership training can offer.
Engaged Teams are Profitable and Innovative: 56% of workers are disengaged, a statistic that’s further impacted by remote offices and global distribution of teams. The greatest profit potential and cost efficiencies come from engaged team whose leaders connect through purpose, recognition, and values, helping employees think outside the box rather than stifling creativity and growth.
Excellent Leaders and Employee Satisfaction Go Hand In Hand: According to Forbes, the #2 driver of employee satisfaction is their relationship with their leader. The most evolved and excellent leaders help improve satisfaction, career progression, personal development, and long-term success.
The Best Leaders are Hands-on Coaches: Excellent leaders are excellent coaches. They take the time to get to know their team players, their talents, background, lives, and preferences. This connection fosters commitment and loyalty – not just compliance. Teaching leaders to forge this connection strengthens the skills of their employees, and reduces turnover and the cost of inefficiencies.
The Cohort Effect: Learning in a team environment develops camaraderie and bonding among future leaders, using this shared experience to build trust, reliance, and connection. They’ll begin to rely on and communicate with each other through a common language, common lessons, and common experience of leadership development.
Development Programs Create a Leadership Pipeline: Only 1/3 of today’s companies are prepared for smooth leadership transitions. A good leadership program not only teaches theory, but also prepares its leaders for the moment. Similar to strategy, mental makeup and leadership awareness can be taught so leaders are better prepared to step into new roles with the challenges of a global/remote workforces, unexpected obstacles, team dysfunction, and adversity – and they lead through confidence and success.