Effective leaders motivate and inspire others to work toward company goals as a team. There are many benefits of leadership development training, and when your company recognizes the value of leaders, they should also recognize that investing in leadership development is an effective way to prepare them for future responsibilities.
Before trying to rule out leadership development training in the interest of cutting costs, consider what having poorly prepared leaders may cost your company. Too often, people are placed in leadership roles without adequate guidance or training. Those who aren’t prepared to effectively lead can trigger decreased productivity, absenteeism and low morale among the members of the team. What are some of the biggest benefits of leadership development training?
Attract and Retain Top Talent
Organizations continually compete to attract and retain the most talented individuals. Leadership development boosts staff engagement by offering learning and mentorship opportunities. A manager with great leadership skills inspires people to do their best and to remain loyal to the company. It’s much less expensive to nurture the skills of those that work for your company rather than having to recruit, hire and train new people.
Improve Company Culture
No matter what industry you’re in, the backbone of your company is the people who work there. One of the big benefits of leadership development training is it sends a message to the staff that their career development matters to the company. The leader sets the overall tone of workplace culture and can improve the overall work experience by conveying appreciation and support to members of the team.
Provide a Career Path to Those with Potential
Hiring or promoting leaders internally whenever possible provides a career path for people in your organization that have the potential to take on more challenging roles. Internal candidates are already familiar with the culture and goals of your organization. The intimate knowledge they have can be hard to replace from the outside. Leadership development can help them develop new skills and be more prepared for leadership opportunities when they become available.
Preparation to Navigate Change
Changes happen in most organizations when you least expect them. There may be upheaval such as corporate restructuring, workforce reductions and coping with market competition. Leadership development training can help prepare your staff to navigate change and challenges as they happen and help them respond rapidly during unpredictable times.
Improvement in Communication
Leadership development training can have a big impact on communication skills, which include both verbal and nonverbal communication, giving and receiving feedback, conflict resolution and active listening skills. Better communication skills can lead to better impact and influence of others as well as better collaboration.
Build Better Work Teams
Another big benefit of leadership development training is the effect it can have on the rest of the staff. The leader gradually improves in the ability to delegate, challenge others and to hold them accountable. As leadership skills continue to improve in the leader, the rest of the team is likely to be empowered and motivated. They may have a clearer vision of company goals and the importance of teamwork as well as individual contributions.
Leadership development training encourages innovative and creative thought processes. These are skills that are continually developing and evolving. Providing leaders and potential leaders with the training they need to learn, grow and improve leadership skills is well worth it for the benefit of the individual and the whole organization.
Training of your organization’s leaders should be done on an ongoing basis through coaching, mentoring, webinars and skills practice. Get in touch to learn more about membership in People Leaders Club.