5 Reasons Why Your Company Should Do Leadership Development

5 Reasons Why Your Company Should Do Leadership Development

Angela MacDonald Sep 21, 2017 12:06:00 PM

Am I crazy?

If you’re the owner/leader of your organization, or if you work in the HR department and you don’t have a leadership development program to offer your employees, this is the question you should be asking right now. No matter the size of your company, survival is linked to growth – and growth requires successful leaders. So it’s pretty important to have a leadership development program within your organization. Here are some key reasons why your company should have a program in place:

1) Reduce Turnover

Like we recently covered, leadership development can reduce turnover because employees will be more engaged when they see future opportunities within your organization. You might notice an uptick in employee loyalty as well. Plus, it saves you a ton in terms of external hiring costs, and it all but eliminates the risks associated with hiring someone from the outside.

2) Company Culture

Set your vision for the type of culture you want in your organization and hire those who fit that culture, not just fit the position you are hiring for. It’s about looking at the overall, bigger picture and long-term future, not just the immediate role that needs to be filled. Investing in leadership development shows that you care about your staff; in turn, they’ll invest in you and your organization. This is also a key motivator for employees to succeed in their performance requirements.

Sign up for a free demo of the McQuaig 360 Leadership Review here. It's simpler, more effective, and easier to use than traditional 360s!

3) Reinforce a Company’s Vision, Mission and Values

A leadership development program that includes mentoring and coaching is a great opportunity to reinforce your organization’s vision, mission, and values. By aligning leader development with the purpose of your organization, you’re not just developing your leaders’ skills – you’re developing them in a way that illustrates how their contributions move the whole organization forward.

4) Working Through Challenges

Regardless of the challenge, a leadership development program empowers employees to rally a team more effectively, and take on more complicated challenges. Personal insights, self-confidence, and more effective communication are just some of the benefits that come with leveraging a program designed to make leaders the best they can be, and each of these benefits contribute to the ability to overcome major challenges.

5) Good Leaders Listen

Like Jesse Lyn Stoner says, successful leaders listen. The best leaders don’t just tell people what to do - they listen well and maintain an open dialogue. When a person is open and receptive to others’ input, feedback, and ideas, it allows for amazing opportunities for both the employees and the organization. Good listeners are able to read between the lines of what is said and isn’t being said and in turn, understand the value of the input received. By developing your employees using an established development program, you’re more likely to understand who’s really doing this well and who needs assistance.

If your vision is to take your business to the highest level possible, then a leadership development program is absolutely required. By coaching them with the goal of giving them the tools to lead more effectively on their own, you’re indicating to your employees that you believe in their ability to do great things – and that’s one of the most motivating sentiments you can offer to your staff. So if you don’t have a leadership development program in place yet, it’s worth looking into. It’s worth investing in your future.

Topics: Leadership development, Coaching and Development

Angela MacDonald

Written by Angela MacDonald

Angela is the Manager, Client Success and Training at McQuaig where she consults, educates, trains, and develops clients in regards to successful hiring, onboarding, and developing the best staff.