What’s the value of leadership development?
A broad consensus of highly successful organisations and HR consultants agree that leadership development is a grossly undervalued form of training. The reason? It’s perceived as a cost, rather than an investment. Yet, according to the Centre for Creative Leadership, 56% of organisations admit the lack of leadership development impedes their performance. Investment is everything.
There are three factors that provide a return on that investment.
1. Increased productivity
- Research by Forbes found Leadership Development to be the second biggest driver to employee satisfaction.
- It can empower people to be an active part of contributing to the organisation’s goals and ambitions.
- It helps highlight an individual’s strengths so they can be placed in strategic vantage points to generate the best possible outcomes.
- It produces camaraderie, which enhances teamwork. In turn, it can lead to leaders appearing within those teams, people who may show the kind of potential for management positions later in their careers.
2. Retained workforce
- In a survey of 1,200 employees, 83% said recognition for their contributions was as fulfilling as any reward or raise. The same survey showed people left their jobs because of the boss, not because of the company. In other words, create the right culture of leadership in your organisation and you get a happier workforce.
- Building resilience in your employees is an important part of leadership development, prepare them for the tough times and difficult decisions and enable them to cope with such times.
- Turn your workforce into coaches using leadership development. Leaders come in all shapes and sizes; someone can lead because they have specific knowledge or skills that may be relevant to others. This empowers people as well as encourages a culture of individual growth, which leads to better recognition.
3. Nurtured future leaders
- It’s important to think of the future of the organisation from a strategic perspective. Where will the next generation of leaders and managers come from? And what do they need to be? What will the future hold for your organisation in ten years’ time – and how will your staff need to react to it? Don’t let Time catch you out.
- A ‘promote-from-within’ policy is a way to avoid risk and sustain the culture of your organisation. Finding the right person in an interview can be a delicate and precarious process, why not promote those imbued with your culture already?
The value of effective leadership development is best illustrated by research from the Ken Blanchard Companies which found:
- Improved store sales, increased productivity in lower performing stores
- Significant increases in sales call activity and revenue with a temporary staffing services firm, an 18-point improvement in repeat customer business
- Decreased employee turnover, stronger teams and relationships
How can Nimble help?
Nimble’s ‘Introduction to Leadership’ elearning course provides interactive, engaging and informative training opportunities which can be accessed any time and on any device. After just 45 minutes your workforce will:
- Use knowledge of leadership styles in different leadership situations
- Understand their own leadership styles
- Lead more effectively by using the material from this course
and will have learned about:
- Effective leadership
- Different leadership styles
- Strategic thinking
- Effective communication
- Motivational qualities
- Personal qualities
£16 (bulk discounts available, 25% charity discount may apply) per learner, it provides excellent value and enables you to invest in your staff and the future of your organisation. Get a demo of this course here.