You have the money: now is the time.
As the year comes to a close, just consider; Would you prefer to give your money to the government or invest in your leaders to offset The Great Resignation?
Leadership guru, John C. Maxwell says it best:
"The single biggest way to impact an organization is to focus on leadership development. There is almost no limit to the potential of an organization that recruits good people, raises them up as leaders and continually develops them."
According to Vital Learning, here are a few stats to support Mr. Maxwell:
If we look at the percentage stats, it feels like a no-brainer. Nearly half (47%) new managers did not receive management training, and over half (60%) fail within two years.
In today’s newly minted hybrid work world, this is nothing more important than training your leaders. What worked in February 2020 is clearly not working today. We must adjust. As we sit right smack in the middle of The Great Resignation, we have two choices:
Train our leaders to lead in the new normal of the hybrid workforce
Hold on to the past and hope things get better.
My advice: Don't stand on the tracks when the train is coming! As we say at Butler Street:
“Change is never change, when it’s the logical step.”
The time is now, and moving to a hybrid workforce was the logical next step.
Why train your leaders? Here are six key reasons:
1. Improved employee retention.
57% of people voluntarily leaving jobs don’t quit their job; they quit their boss!
Fact: employees leave ineffective managers. By investing in your managers through leadership training, you can retain your people and reduce costly recruitment expenses.
2. Enjoy higher employee engagement.
Management feedback is critical to ensure employees understand how they are progressing in their roles. Well-trained leaders know that recognized behavior gets repeated and leads to higher employee engagement. Giving feedback is a skill of successful leaders. In fact, 43% of highly engaged employees receive feedback at least once a week compared to only 18% of those with low engagement. Through leadership training, you can teach effective ways to give feedback to motivate and increase the skill level of your people.
3. Better decision-making.
Training your managers results in better decision-making. Leaders walk away with greater insight into emotional intelligence and a greater understanding of the operating reality of their employees and are in a much better position to make less emotional and more intelligent decisions.
4. Increased productivity.
Consistent, well-trained leadership helps increase employee productivity through teaching and coaching. Strong leaders are strong teachers who understand the importance of coaching and feedback.
5. Develop future leaders.
It is imperative to be strategic about developing future leaders. Without a clear strategy and leadership, methodology management roles are often given to the most direct candidates with strong personalities. Formulating a leadership strategy consists of both the right qualities and the right training. Identify those who have both high performance and high core values. Nurturing future leaders provides for succession planning and offers career pathways to employees, further increasing retention.
6. Implement an effective leadership style: ”The ABC Co. Way”
Leadership training can assist in implementing the most appropriate leadership culture for your organization and how you want your employees to represent your brand. It will also enable your managers to develop their own leadership style that motivates their employees to do their best.
Now is the time. Make the new normal work for you and your leaders. Invest in leadership training.
At Butler Street, we've been named a Top 10 Leadership Training company three years in a row and can provide your leaders with the training and development they need to thrive in the hybrid work world. Contact us and let us help you develop your leaders.