Leadership development enhances an employees’ leadership capabilities within an organisation. It is the process of creating an environment that places priority on developing the skills that grows the leader which consequently grows the organisation. Leadership roles are those who execute a company’s vision, through winning mindshare, managing teams and growing others’ capabilities.
Leadership development programmes can come in different formats. There are mentoring programmes, class-room leadership and management development training programmes, and the most effective coaching leadership development programmes.
Benefits of leadership development
Retain top talent
75% of employees who voluntarily leave their jobs don’t quit their jobs, they quit their bosses. Ineffective leaders can have detrimental consequences for an organisation. Gallup (2014) estimates that poor leadership costs organisations up to $550 billion a year. By investing in leadership development, you can retain your people and reduce costly recruitment expenses.
Every employee impacts an organisation, but leadership has the most significant impact on a company’s culture. Through leadership and management development, you can empower your leaders to achieve a company’s mission and execute in accordance with a company’s values. This way leaders can demonstrate the beliefs and values of a company and reinforce behaviours that reflect those values.
Productivity and improved financial performance
71% of employees feel that their managers do not spend enough time discussing their goals with them on a regular basis (Santiago Iñiguez de Onzoño, 2016). As a result, employees don’t really know which direction to go in, creating a loss of productivity and a drop in performance. By investing in leadership development you will see a financial return. When priorities are in line with business goals, business units operate more efficiently because of much more productive and engaged employees. As a result there is less financial wastage.
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Rosie is a behavioural scientist at CoachHub, where she applies insights from positive psychology, neuroscience and behavioural science directly into digital coaching programmes and an approach that drives individual and organisational transformation. She works as part of the in-house research and development team, the Coaching Lab, and contributes to the advancement of the science of coaching and behaviour change; in addition to working both internally with in-house researchers and with world-class external academic teams to design and execute groundbreaking studies.
Behavioural Scientist at CoachHub