Top Five Reasons to Make Leadership Development Your #1 New Year's Resolution
By Dr. Jane T. Wilson, Manager Growth Services
Reason #5 - You recognize that developing people is very important.
According to a survey conducted by the firm Gap International, 85% of company executives said that maximizing organizational talent is “very important”. This survey points out a universal truth – that developing internal assets is far more productive and effective than hiring external talent.
Reason #4 - You cannot afford the costs of poor leadership.
Numerous studies have shown that poor leadership results in high turnover, lower productivity, and more time spent by managers on resolving employee relations rather than on satisfying customers. These hidden costs amount to 7% of annual revenues for the average company.
Reason #3 - Your leadership development program is inadequate.
Each year, United States businesses spend billions of dollars on leadership programs. However, only 19% of organizations say that their efforts are effective.
Make sure you are choosing the right Leader Effectiveness Training (L.E.T.) for your employees.
What employees are saying about L.E.T.
"I have gained more tangible skills to practice in my every day environment than I have from
most other trainings combined."
Reason #2 - Whether you believe leaders are born or made, you recognize that some skills are essential.
The definition of a good leader is elusive. However, we all know it when we see it – or rather when we feel it. As followers, we feel heard, understood, encouraged to participate, and to be creative. There are skills that leaders can learn and practice to enable this environment in any company.
Reason #1 - Improve your bottom line, make this your New Year Resolution!
Companies that invest in leadership development deliver higher stock market compared to those companies with less emphasis on human capital. According to one study, the return on investment was quantified at $1million.
As one of our favorite manufacturing innovators said:
"If everyone is moving forward together, then success takes care of itself." – Henry Ford