Leadership is lifting a person’s vision to high sights, raising a person’s performance to a higher standard, and building a personality beyond its normal limitations. — Peter Drucker
Success is all about succession. Think about it like a relay team sprinting around a track. It doesn’t really matter how fast the runners travel if they don’t make the proper hand-offs. Winning the race and getting to the finish line together takes practice, communication, and having the right people in the right places at the right times.
Likewise, having quality leaders is a requirement for any organization to be successful. Yet many organizations under-invest in developing their current leaders, and more importantly, preparing future leaders to play an important role. Again, success is all about succession, and succession issues, growth, and a thin labor market are just some of the factors that are constantly putting pressure on your leadership pipeline.
Here are just a few ways leadership development can help your organization arrive at its goals faster… while saving money along the way:
Business Needs Leadership Development to Develop Future Leaders
Just because someone is good at a job doesn’t mean they will be good at leading others doing that job. Even the most talented and capable people need the training to develop strong leadership skills and characteristics to support a diverse team. By investing the time and effort to develop your future leadership, the transition process is much smoother and is more likely to be successful.
Business Needs Leadership Development to Minimize Costs and Disruptions
Replacing an employee is expensive. Losing an employee costs more than you might think. If you take into account the cost of recruiting and onboarding, as well as the loss of productivity and engagement, the financial implications are significant. It also affects company culture, as employees tend to disengage when turnover rates go up. By developing strong leadership, the cost of retaining good talent greatly diminishes, as well as the likelihood of problems related to ineffective management
Business Needs Leadership Development to Encourage Capable Leaders
The most effective leaders are able to relate to all personalities, understand what inspires them, and maximize their strengths. This is why adequately trained leaders are able to increase internal motivation within their companies, driving up overall productivity. When a runner knows her objective and understands the importance of each and every step, she is better able to focus on the end goal and prepare for success. Likewise, driving productivity goes far beyond setting and managing deadlines. Leaders inspire a sense of urgency through their ability to motivate employees to constantly do their best.
Business Needs Leadership Development to Strengthen Culture and Performance
By investing the time to work and coach your future leadership team, you can thoroughly discuss and teach the principles of your culture at the deepest levels, helping to ensure a strong culture for generations to come. A common misconception is that simply because someone excels in the current role, that success will automatically translate to the next level. That’s not always the case. Even the best runners need to feel like they are an integral part of a winning team before they can reach their full potential.
Business Needs Leadership Development to Prepare Leaders
A leader’s mental makeup will ultimately tell the story of how successful they will be — and how far and fast they can run the race. A good leadership development program not only teaches proper hand-offs, disciplines, and techniques but also prepares them for the responsibilities they have today. Mental makeup, like the strategy or business rules of your company, can only be learned if taught. A good Coach (leadership development program) will help prepare your up-and-coming leadership team to handle every day while focusing on what’s next.
Brought to you by the team at @Wildsparq.