Leaders can be created. In fact, studies indicate that leaders are about one-third born and two-thirds made. Leadership development training is essential for raising effective leaders and evolving those already in leadership positions. Research backs this up, showing that leadership is the most important skill for employees to gain from learning and development programs1.
Leaders play a vital role by steering teams and individuals toward your strategic direction while exemplifying organizational values and behavioral standards. Leaders empower, motivate, guide, and develop others. With such an important job to fulfill, it is critical that you invest in your leaders to ensure their leadership style and approach align with your business objectives and delivers the right results.
In this article, PulseLearning explores the benefits of leadership development training and what a program could look like for your organization. Let us begin with the plentiful benefits.
8 BIG Benefits of Leadership Development Training
1. Reduce attrition rates.
A staggering 94 percent of employees would stay with an organization longer if it invested in their career2. Investing in the development of your employees can reduce attrition rates and prevent them from seeking next-level opportunities elsewhere.
2. Increase employee value.
Effective leadership development training can “up-skill” or “multi-skill” your employees so they can fluidly transition between roles that require a diverse skill set.
3. Support succession planning.
Providing leadership development training supports succession planning by increasing the availability of experienced and capable employees to assume senior roles as they become available.
4. Enhance operational efficiency.
Leadership can increase the efficiency and productivity of teams in completing their daily work tasks, making it easier to project outcomes and meet organizational goals and targets.
5. Exceed industry standards.
Having quality leaders drive your operations could give you the edge over your competitors. Your business is only as good as its people, products, and services, so you should invest in these areas to set them apart from other organisations.
6. Increase employee engagement.
Giving feedback is a skill of successful leaders. Through leadership development training, you can teach effective ways to give feedback to motivate and increase the skill level of your people.
7. Implement an effective leadership style.
Leadership development training can assist in implementing the most appropriate leadership style for your organization and the work you do.
8. Make better decisions.
Incorporating emotional intelligence-building activities into leadership development training can help leaders gain greater perspective to make informed business decisions.
What could a leadership development training solution look like?
To immediately engage employees in leadership development training, the solution you offer must meet their expectations. With 58 percent of people preferring to learn at their own pace3, flexible, accessible training is required. An online solution customized for your business needs will allow you to build the leaders you need to realize your business objectives.
A successful solution will include three crucial components:
- Knowledge: Leadership concepts could be presented as bite-sized, engaging knowledge nuggets easily slotted into an employee’s workday. These might take the form of short episodes building toward a greater story in which the employee is cast.
- Application: To avoid content remaining as intellectual concepts, employees must also be given the opportunity to apply learning in a practical, real-world context. Employees could participate in a series of tracked coaching activities.
- Self-reflection: A huge part of becoming an excellent leader is honing self-awareness and self-management skills. Employees should be encouraged to begin this practice by reflecting on their current abilities and strengths, potential growth areas, and how they could influence a course of action in specific leadership situations.
Are you ready to create your leaders of tomorrow? PulseLearning can assist in creating a measurable learner-centered solution, current with today’s technological trends, to ensure your leadership development training is applied on the job. PulseLearning is an award-winning global learning provider experienced in developing engaging and innovative eLearning and blended training solutions.
References: 1, 2, 3: LinkedIn Learning 2018 Workplace Learning Report https://learning.linkedin.com/content/dam/me/learning/en-us/pdfs/linkedin-learning-workplace-learning-report-2018.pdf