If there is one thing that many top performing organizations attribute their success to, it’s having a great leader by investing in leadership development.
Without a strong leader many of the largest corporations today may not be as successful as they are – leaders like Steve Jobs and Bill Gates create results.
Although a strong leader is essential to developing a successful business, research has shown that investing in a leadership development strategy is the real driver of results.
By developing a rich leadership strategy and investing in leadership development programs, many organizations have been able to see increased revenue, employee engagement, and customer loyalty. The most successful companies link their business strategy to their leadership strategy and invest in leadership development programs heavily. These top-performing companies understand the importance of developing their leaders and achieve great improvements as a result.
Research by Bersin & Associates has shown that high-performing organizations with successful leadership development programs do the following:
THEIR BUSINESS & LEADERSHIP STRATEGIES ARE ALIGNED
By aligning the business strategy to a leadership strategy, organizations can then start to see how to improve customer satisfaction for example, managers and leaders must develop their communication skills in order to engage and educate the front line effectively.
IBM, rated #1 for leadership in the world by Aon Hewitt, ensures that leadership skills and behaviors align with its business strategy. As a result, IBM has leaders who help IBM grow to become the top-rated company for leadership in the world. With each level of leader linked to the bigger picture, IBM is able to better achieve business goals. Leaders are assessed and developed uniquely to IBM and leadership development activities revolve around the culture they have defined rather than by individual leaders in each department.
THEY’RE INVESTING IN ONGOING LEADERSHIP DEVELOPMENT
It’s not enough to follow best-practices when you’re a high-performing organization, you develop your own best-practices! Organizations that allocate a larger budget for investing in leadership development activities and leadership development programs receive a significant ROI. These organizations don’t look at leadership development activities as a cost, but rather how to do leader development right. They see it as an essential investment that helps the organization grow.
These organizations place leaders in a variety of leadership development programs including coaching, simulations, immersive experiences, and challenging leadership development activities. By doing so, leaders are better able to understand and engage their subordinates. From there, leaders can begin to develop and share their own best practices that are unique to the organization.
It’s also important to note these organizations recognize that leadership development is an ongoing process that cannot be abandoned.
THEY ATTAIN HIGHER LEVELS OF SUCCESS
Research shows that organizations that invest heavily in leadership development programs have:
– 30% more revenue per employee
– a 10% increase in customer retention
– 2X the top talent on hand than before investing
Their success is due to a more narrowly-defined culture that focuses on leadership. Performance improved by clearly defining what leadership means, assessing and developing leaders, and supporting and placing leaders in the best possible position. These organizations invest in leadership development activities that align personal leadership qualities to business strategies.
Leadership development activities and programs require an investment of time and money, and the payoff is immense. Organizations that align their leadership strategies to their business strategies innovate and achieve at a greater rate while leaving their competitors behind. Learn2 has created curated leadership development programs that will help your organization encourage new emerging leaders. Connect with our team today and chat about how investing in leadership development can increase your organization’s success.
