Few things impact the work environment and company culture like leadership does, yet investing in leadership is often put on the backburner until it's too late. Many businesses that are struggling with employee engagement, performance, and retention often fail to realize that there may be a solution to their problems that can also have other benefits... Leadership Development. Effective leadership development can eliminate inconsistent leadership practices, decrease employee turnover, and engage high potential team members, and create a culture of performance.
Delivers consistency in how leaders lead across the organization: While many companies understand the importance of strong leadership, they fail to define what it actually looks like for them. By neglecting to set a standard leadership model, leaders are left to employ their own individual practices. Often times, these styles are self-oriented and reactive, causing a negative reaction among team members. It can also result in inconsistency across departments in a single organization, pushing for some leaders to be highly sought after while others struggle with morale and productivity. By defining the leadership style and practices and training through a leadership development program, companies are able to set an overarching standard for leadership that promotes best practices.
Quality leadership leads to less staff turnover: There is nothing worse than working for someone you can't stand, (which is why people choose not to do it). According to Gallup Polls, "50% of people leave their job due to poor management." When unemployment is shrinking and the talent pool continues to become more shallow, businesses cannot afford to lose good people. In addition to being costly, high turnover rates also create an air of uncertainty, potentially reducing employee trust in the company. Consistency in effective leadership practices has a stabilizing effect on the company culture and performance resulting in a more content workforce.
High potential employees are more engaged due to opportunities for growth and development: Opportunities for career development are crucial to employee engagement and specifically for those looking to advance in their field. By providing employees with opportunities to hone leadership skills, they are much more likely to keep their career interests within the company. A leadership development program also serves as a way to directly inform high potential individuals of their prospective growth, which can be a powerful motivational tool. Providing a clear path for individual development also encourages continuous improvement.