A clear structure helps employees grow while still balancing responsibilities for their current business. At the same time, it has become increasingly clear that growth and development as a leader is a personal journey and requires a personalized approach. A good leadership development program needs to be flexible to meet individuals where they are and provide the kind of support they need at the moment for the specific, often unpredictable, challenges they encounter.
Smart organizations know that leadership development needs to emphasize the skills and experiences that will be most relevant to their own organization in the near future. A McKinsey article exploring why some leadership development programs fail reminds us that understanding context is crucial to understanding what type of leadership you need to develop.
What types of challenges is the company likely to face? What will be the key skills the company needs from its leaders moving forward?
Why should companies have a leadership development program? But it can be easy to forget that implementing a leadership development program has an outsize impact beyond its specific goal. The ripples benefit the company in multiple areas. Organizations with leadership development programs in place tend to see a boost in the bottom line. The financial impact stems from a variety of factors, one being simply that there are now more people in the company who are well-prepared to face business challenges and who can understand high-level strategy.
When employees know that management has made an investment in them and that they not only have opportunities to grow but that there are available roles to grow into, they are more likely to stay. Another factor that positively impacts company financials is increased productivity.
Employees who feel nurtured and who can see a future for themselves at the company are much more likely to be engaged in their work, thereby motivating others toward increased productivity as well. A leadership development program is an attractive feature for companies looking to recruit.
Changing organizations to get the growth you need is frustrating and time-consuming, and knowing that an organization will invest in its future leaders makes it a much more appealing target for candidates. For similar reasons, organizations can also expect improved retention. A leadership development program is an official commitment to help top-tier employees not only grow their skill sets but also help them find new roles within the company to exercise these skills with a long-term influence.
Mastering strategic execution should be a key component of any leadership development program. These leaders-to-be will learn to take quarterly and yearly goals and break them down into actionable tasks, and, perhaps more importantly, know how to mobilize workers across teams to achieve stellar results. When the unexpected inevitably happens, organizations, where people have loose but broad connections, can understand and respond to the circumstances better.
For organizations expecting shifts in the industry, doubling down on this core leadership skill could prove to be a good investment. And even if the only prediction is smooth sailing ahead, change is always inevitable. The ability of a leader to not only navigate a new territory but to do so while maintaining authority, respect, and keeping the morale high, is crucial to getting out safe and sound on the other side.
If anything, the pandemic and tumult of have proven that businesses with leaders who are quick to adapt and bring everyone on board to new ways of working have been the most successful in weathering the Covid storm. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
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Again, providing concrete examples and takeaways will help the employees understand why these two skills are important and why they need to incorporate them into their leadership skills. Your business is as unique as you are. Sure, you may have many competitors out there, but the way your organization is unique is that it has your goals, your philosophy, and your leaders.
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Invest in your team with leadership development programs Build and deliver your leadership training program with Lessonly. That means that: You understand the goals you want to accomplish with this leadership program. You assess what skills you need as a person or as a company.
You choose a development program that matches your overall style and philosophy. You choose a program that is organized to meet the objectives of leadership development programs and has a structure that will ensure all topics are covered. You choose a program that matches your and your employees learning styles, whether in a classroom, as handouts, or taking the best online leadership courses.
See How. Addresses a variety of leadership styles Just as no two employees are alike, no two leaders are alike. Helps your leaders learn and improve key leadership skills Always come up with good suggestions that leaders can immediately put to work to improve their key leadership skills. Fosters teamwork and communication within a company Communication and teamwork are two very important components of leadership development.
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