Ascension Leadership Academy Explains the Importance of Leadership Development |
Posted: November 4, 2022 |
Many organizations fall short when it comes to developing effective leaders. You may believe that a person cannot be placed in a leadership role without first receiving leadership development, and it does happen.
A lack of leadership development has a wide-ranging impact on your organization. It can lead to high turnover, absenteeism, low morale, lost productivity, and other problems. If this describes people in your organization, it might be time to fix the issue of leadership development. These reasons alone demonstrate the significance of leadership development.
According to a recent study, the lack of leadership development has a more significant impact on millennials. Sixty-three percent of millennials believe their employers do not fully develop their leadership skills. Because millennials are the future leaders of organizations worldwide, this statistic could have serious consequences. With this in mind, it is much easier to see the value of leadership development in your organization.
Ascension Leadership Academy Reviews the Top Reasons Why Leadership Development is Important
Improves Employee Retention
Managers have an enormous influence on whether an employee stays or leaves an organization. In fact, 32.5% of people say they would quit because of a bad boss. Simply changing how a manager does their job can make a big difference, demonstrating the significance of leadership development.
Employees are more engaged when they feel supported and valued by an effective leader. What difference does it make? Well, 53.6% of people say their loyalty to their boss and their organization keeps them from leaving. This statistic demonstrates the importance of manager and employee engagement in improving employee retention.
Promotes High Accountability
Good leaders admit their errors and encourage everyone else to learn from them. They make it their mission to keep everyone working. Finally, they pass on this accountability to foster a strong accountability culture throughout the workplace.
Leadership development fosters greater accountability in leaders. They thoroughly understand why a culture of accountability is critical to their success as they progress.
Creates Strategic Problem-Solving
A good leader must be able to solve problems effectively. Analyzing the problem and its root cause is part of strategic problem-solving. It also includes utilizing the prowess of an open-minded workplace to find any and all possible solutions.
So, what does it mean in terms of leadership development? CCL discovered that 86% of organizations with leadership development programs could respond quickly to adversity in a volatile business environment. Only 52 percent of organizations with less mature leadership development programs were unable to do so.
A team of leaders with powerful problem-solving abilities provides a competitive advantage. It emphasizes the significance of leadership development. After implementing the program, you will notice a difference in your leaders' and your organization's performance.
The Takeaway
Coaching and mentoring are two of the most effective methods for implementing leadership development efforts in your organization. These programs will help you develop your leaders effectively while highlighting the significance of leadership development to the participants.
While both coaching and mentoring are development programs, they are not the same. You should select the best one for your needs based on your leadership development goal. The ascension leadership academy is an excellent place to review and build inclusive leadership development plans.
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