Organisations constantly strive to be the best in their business domain and look for opportunities to raise the bar. The barometer of success is highly dependent on an organisation’s willingness to adapt to the ever-evolving and changing business dynamics, thus necessitating innovation. Innovative organisations are propelled to greatness by visionary leaders who assist them in securing a competitive advantage. For its fruition, organisations should endeavour to infuse decision-making and cross-functional skills in their leaders, giving an edge to their business operations in the global marketplace. In the long run, it fosters an ecosystem of broader business knowledge, international perspectives and leadership insights, ensuring an organisation’s transformation.
83% of organisations believe it is vital to develop leaders at all levels, but only 5% have taken action to do this (Forbes, 2021). Leadership training and development are of utmost importance as leaders can contribute to corporate success on a higher level coupled with organisational change and inspiring high-performing global teams.
Leadership Training
Leadership and learning are indispensable to each other.
– John F Kennedy, Former President of the United States
Leadership training and development immensely assist an organisation in identifying high-potential individuals likely to become leaders and supplementing the skills and knowledge of a person already discharging this role. It encompasses new leadership techniques and refining old skills, including assertive communication and motivation techniques.
Role of the Employees
Consider the following statistics reported by Gallup (Gallup, n.d.).
- Two out of ten employees think their leaders know where their organisation is going.
- Only 15% of employees strongly agree that the organisational leadership makes them enthusiastic about the future.
Organisations should focus on providing leadership training and development opportunities to their employees as it assists in making employees more agile, innovative and ultimately more productive. It augurs well for the organisation as engaged employees look to solve a business problem creatively. The following points make leadership training and development a worthwhile proposition for employees.
- Increase in productivity.
- Engaged and independent workforce.
- Fosters growth mindset.
- Assists in nurturing next-generation leaders (Forbes, 2020).
Role of the Management
Before understanding the necessity for management’s intervention, the following statistics (Forbes, 2020) will help put things into perspective.
- 70% of a team’s engagement depends on the manager.
- A team with a great manager sees 27% more revenue per employee.
Organisations should consider developing a leadership training and development ecosystem that acts as an incubator ingraining the finer nuances of leadership skills required at the helm. The leadership training and development programmes should get designed to draw out the potential that leaders possess by identifying and developing their talent, engaging them and inspiring their near-perfect performances. The following points could assist in realising the goals set.
- Impart essential skills.
- Assist in applying the skills learnt.
- Foster the learn-apply-reflect model (Forbes, 2020).
Advantages of Integrating ESG
Changing business environment impacts acquiring and retaining. Organisations often find themselves ill-equipped to acquire and retain the right talent to take it to the next level. The right talent means millennials and Gen Z, who will comprise 75% of the workforce in the next four years (Forbes, 2021). They will be at the helm, steering organisations to tremendous success in future. To win the war for talent, organisations must better accommodate these employees’ desires by prioritising ESG. ESG and talent are correlated because Marsh & McLennan found that organisations with an attractive image among young talent have better ESG performance (25% higher) than average employers (Forbes, 2021).
The business world is constantly in flux, compelling organisations to be more creative and flexible. It has prompted a renewed focus by organisations on leadership training and development, as in its absence, the organisations have found it challenging to channelise their resources judiciously and pragmatically towards collaboration and innovation on all levels. It is this distinction that makes an organisation survive and thrive or perish.
Bibliography
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[Accessed 22 December 2022].
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Available at: https://www.forbes.com/sites/stephanieburns/2021/10/01/why-leadership-training-doesnt-work-and-what-actually-does/?sh=4deab7f010a7
[Accessed 22 December 2022].
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[Accessed 22 December 2022].
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[Accessed 22 December 2022].
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[Accessed 22 December 2022].
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