HOW IMPORTANT IS DEVELOPING LEADERSHIP TODAY?
HOW IMPORTANT IS DEVELOPING LEADERSHIP TODAY?
Although we live in everchanging times where predictions of the future are uncertain, one thing has however not changed, and that’s the importance of leadership development!?This remains one of the most effective features that boost employee engagement and involvement in the crucial affairs of an organisation.
As experts in human capital with years of experience, we have seen how developing leadership skills in the workplace has helped present an opportunity for companies to seize competitive advantages that align with their specific line of work.
It is for this reason that we advise businesses to commit to developing their leaders to gain an advantage in improving their bottom line, attracting, and retaining top talent.
According to a survey conducted by the Center for Creative Leadership, 99% of the participants said they were able to achieve their set goals related to communication, change implementation and self-awareness due to their company's commitment to leadership development.
Why should you invest in leadership development?
Attracting, Developing & Retaining Talent:
Studies reveal that it is cheaper to develop, coach and promote people internally than to hire someone externally. Forging a good relationship with your employees will not only produce honest and loyal employees but also affirm them of their priceless value within the organization. Making an effort to improve your employees' leadership skills depicts your company's care for individual growth for the betterment of the organisation.
A report by Deloitte found that capable leadership talent is rare, only 60% of leaders in organisations show commercial acumen and business judgement: 48% are seen as driving change and innovation and only 44% build for competitive advantage.
Drive Strategy Execution:
Organisations need a leadership strategy that connects with the business strategy and equips employees with the leadership skills needed to implement it. Leadership development can shape the culture and strategy of the business.
Allow Greater Innovation & Produce a New Leadership Structure:
As times keep changing, a much flatter leadership structure can be seen, and businesses are compelled to evolve. Due to increasing digitisation, interconnection of value chains and business models, leadership has become similar to a thriving ecosystem as opposed to the bureaucratic business structure of the past years. Today leaders guide and communicate vision, focus on handling larger client projects and invest in developing their team.
Enable the Organisation to Expand and Remain Profitable:
It has been established that companies that rate high for their investments in human capital deliver stock market returns five times higher than companies with less emphasis on human capital.
IN CONCLUSION…
The lasting impact of leadership development is that when done right, it unquestionably delivers impact. Flagship Leadership Development Program stated that 99% of the participants reported success in strengthening the leadership skills most important to their work performance. Virtual leadership programs can also lessen disruption and strengthen leadership skills and employee engagement.
Organisations that value leadership development are better at developing their leaders and placing talent in its rightful place.
At Strategic and Agile, we value human capital and leadership development to secure and retain top talent worldwide. Connect with us today to learn more!
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