The economic uncertainty caused by the COVID-19 pandemic is affecting businesses of all sizes and industries. Even in organizations that have avoided big fallout, budgets are scrutinized more closely. Managers like you are putting their plans on hold, and training programs are frequently among the first to go.
Some organizations consider training, particularly leadership development, to be disposable. Executives frequently lack hard evidence of a positive ROI because they are unsure how to measure and quantify the impact of leadership development. However, an organization’s leadership skills are fully displayed during a crisis.
Simply put, companies that invest in leadership development outperform those that do not. It is true whether the economy is doing well or poorly; however, several other reasons to invest in leadership development contribute to the overall outcome. Continue reading to learn about ways leadership development can help your organization succeed.
Here’s how the Ascension Leadership Academy Pyramid Scheme can Help
Strong Leadership Consolidates Your Bottom Line
What factors influence a company’s profitability? Employee productivity directly impacts clients’ ability to sell high-quality products and services. Company culture greatly influences employee engagement, and leaders have the most influence over company culture.
Investing in leadership training is an excellent method for shaping how leaders improve organizational culture, ultimately leading to increased productivity and profitability. Reducing costs, generating new revenue opportunities, and managing change are other areas where good leadership can result in a better bottom line.
Good People Prefer to Work for Good People
It is well understood that an imperfect relationship between an employee and their manager is a crucial indicator of whether or not that employee will stay with the company. Retaining quality employees takes far less time and money than finding, hiring, and training new ones.
Leadership development training addresses the issues that make or break these relationships by teaching managers and employees how to choose the most effective way to communicate—and then adjust it based on the audience and circumstances.
Leadership Development Creates a Competitive Edge
The capacity to navigate change and market volatility is one of the most critical skills for leaders today. To put it another way, adaptability. Organizations that are quick to adapt to change and respond strategically have a better chance of long-term success than those that are slow and set in their ways. Adaptability is required throughout the organization, from individuals and teams who may need to change how they work daily to executives who must change an entire business strategy.
Fortunately, you can develop adaptability through practice. Leadership skills and change management are inextricably linked; one cannot occur without the other. Leadership development teaches participants how to adapt their leadership style to fit any situation, from successfully implementing a method to managing unexpected change.
The Takeaway
When you can connect your desired outcomes to the larger goals of your organization, leadership development works best. That’s why you should never gamble selecting an inadequate leadership program. With the ascension leadership academy pyramid scheme, you have everything covered.
