What benefits can leadership and management bring you?
The value to a company of developing leadership and management skills in employees is priceless.
Good leadership results in increased performance, productivity and profit.
Whether it’s coaching executives to grow in their experience and skills, or encouraging those interested in climbing the corporate ladder to draw up a leadership and management development plan and reach for the stars, everyone ultimately benefits from having a confident and competent team at the helm.
In many organisations, team members who deliver an outstanding performance are rewarded with promotion to leadership roles.
But no matter how talented the employee, it would be wrong to assume they know how to lead a team.
Drawing up a leadership and management development plan is always a good idea, taking on board an individual’s strengths and weaknesses, and identifying areas where they would benefit from coaching or mentoring from their peer group, or perhaps going on a professional training course to gain better qualifications and skills.
Developing leadership skills does not happen naturally. Management abilities are not intrinsic, and many people in senior roles will admit to struggling in the early years of their promotion.
No first-time leader is going to have every quality necessary for their job. And so developing that executive, to increase personal performance and confidence, will be of benefit to their whole team.
Productivity issues often result from managers and organisations lacking leadership skills to motivate the workforce. Research has found good, strong leadership to have a direct effect on productivity – bringing about an increase of up to 200%.
Think what just a 25% boost in productivity might do for your firm, and it’s not difficult to realise that developing leadership skills is an investment which is going to pay dividends.
The cost of a disengaged workforce is always high, if you factor in sick days, time taken off with stress, and even the loss of good people who may leave a company because they don’t get along with their boss or feel valued.
So while every workplace is busy, it is vital to take time to carry out regular appraisals of executives, providing those who need it with a leadership development plan. None of us are perfect, or too senior to work on improving our skills, so even those at the top should request feedback from their staff or peers about areas where they could improve.
By doing so, you are putting in the effort to retain good staff, keep productivity high and see a better performance from all employees. All the ingredients which lead to what ever company ultimately seeks – profits.