Focusing on developing high-potential leaders by giving them opportunities to learn, improves employee performance and benefits your organization in numerous ways.
In a recent survey, 86% of employees in modern workplaces reported that they want more training and development opportunities at work.(1)What is even more interesting is that one of the top reasons they want more training is to improve their performance and to take on more challenging roles. This shows that modern workforce is more open to self-development and better professional opportunities. Leadership training helps employees attain the professional goals they aspire for, while helping the organization increase productivity.
Another recent study revealed 88% of employees who participated in organization-led leadership development programs reported that their skills had perceptibly improved.(2) This is good news for organizations as well, as an increased skill level also leads to increased productivity and boosts employee morale.
Leadership Training – for Talent Acquisition and Retention
Leadership development is also a competitive advantage that can help organizations attract and retain the best talent. The millennial generation is now the largest in the workforce. In a recent study by Gallup, it was found that 87% of millennials feel that learning and opportunities for career growth are important to them (3). It was also noted that effective leadership development programs can improve retention and the length of time an employee’s works for a company.
Leadership Training – for Succession Planning
Developing high potential leaders also ensures that your company will continue to operate efficiently as the leaders of the baby boomer generation continue to retire. In the current scenario, 84% of organizations anticipate that there will soon be a lack of potential leaders to take over from their current group of high-performing leaders.(4) Developing sustainable Leadership development programs helps assay the fears of forward-thinking organizations and empowers them to fill senior management roles. This also ensures that your organization will not suffer from a lack of leaders as the millennial and Z generations take over the work force.
Leadership Training – for Overall Organizational Growth
Identifying and training the high-potential leaders within your organization helps you cut costs by reducing the amount of time and money spent on searching for new talent. Providing opportunities for growth not only helps your employees achieve their goals but also ensures that they develop the leadership competencies that are essential for the success at your organization.
Leadership training helps improve essential skills such as team management, conflict resolution, time management, diversity training and more. These are the kinds of skills that will not only improve the skill level and productivity of the high-potential leader in training but also impact the teams they lead. They are learning skills that will improve team efficiency – hence overall productivity.
Effective leadership training helps employees learn the skills they need to motivate their teammates by setting guidelines and goals that inspire others. Instead of focusing on the tasks that need to be completed, leaders work on increasing the efficiency and removing barriers to team productivity.
Leadership Training – for Boosting Workplace Culture
Leaders also have a significant impact on the culture of your organization. Leadership development programs help all leaders, at multiple levels within the organization structure, reflect the culture, mission and values of the organization. This way they help their teams align with the company’s overall vision and develop strategies to attain organizational goals.
The Final Word
Effective leader development training programs not only deliver great results, but they also improve ROI. According to a recent study, 86% of the companies reported that they had made back their initial investment. 19% of participants showed an ROI at least 50 times higher than their investment (5).
Focusing on the learning and development of high-potential leaders increases productivity throughout the organization and provides a competitive advantage. To learn more about how leadership development programs can prepare and empower your business for the future, read our ebook on High-Potential Leadership Programs.