During times of economic uncertainty, businesses often face the challenge of maintaining profitability while managing costs. In such situations, many companies focus on reducing expenses and limiting investments, including employee training and development. However, research has shown that investing in leadership development during economic uncertainty can have significant long-term benefits for the organization. This blog discusses the reasons why times of economic uncertainty offer a great opportunity to invest in developing your employee’s leadership skills.
The importance of leadership development
Effective leadership is crucial to the success of any organization, regardless of its size or industry. Leaders provide direction, inspire employees, and drive innovation and growth. In today’s fast-paced business environment, leaders need to be adaptable and able to respond to changing market conditions quickly. Therefore, investing in leadership development can help organizations build a strong foundation to help catapult their future growth.
Leadership development programs can help employees develop the skills and knowledge needed to become effective leaders. These programs typically include curriculum, peer groups, coaching, and mentoring. Through these programs, employees can learn how to communicate effectively, better manage their time, increase accountability, make sound decisions, manage teams, and develop strategic plans. As employees develop these skills, they become better equipped to lead their teams and help the organization achieve its goals.
the benefits of investing in leadership development during economic uncertainty
During times of economic uncertainty, businesses often face a variety of challenges, including reduced revenue, increased competition, and limited resources. However, investing in leadership development during these times can have several benefits for organizations.
1. Improved Employee Morale and Retention
Investing in leadership development sends a strong message to employees that the organization values their growth and development. When employees feel supported and invested in, they are more likely to feel engaged and motivated at work. This can lead to improved morale, increased productivity, and lower turnover rates.
2. Increased Innovation and Creativity
Effective leaders are often the catalyst for innovation and creativity within an organization. By investing in leadership development, businesses can cultivate a culture of innovation and creativity. Leaders who are well-trained in critical thinking and problem-solving can encourage employees to think outside the box and develop new solutions to business challenges.
3. Better Decision Making
Effective leaders are skilled at making sound decisions based on data and analysis. By investing in leadership development, organizations can help their leaders develop these critical decision-making skills. This can lead to better business outcomes, as leaders are better equipped to make informed decisions that support the organization’s goals.
4. Improved Adaptability and Resilience
Leaders who are adaptable and resilient are better equipped to respond to change and uncertainty. By investing in leadership development, organizations can help their leaders develop these critical skills. This can help businesses navigate economic uncertainty more effectively and remain competitive in the marketplace.
5. Increased Customer Satisfaction
Leaders who are well-trained in customer service can help businesses improve customer satisfaction. By investing in leadership development, organizations can help their leaders develop the skills needed to provide excellent customer service. This can lead to increased customer loyalty, repeat business, and positive word-of-mouth advertising.
Strategies for investing in leadership development during economic uncertainty
Investing in leadership development during economic uncertainty requires careful planning and consideration. Here are some strategies that businesses can use to invest in leadership development during these times:
1. Focus on Leadership Essentials
During times of economic uncertainty, businesses may not have the resources to invest in extensive leadership development programs. Therefore, it is essential to focus on the essentials. Businesses should identify the key skills and knowledge that their leaders need to be effective and invest in programs that focus on those areas.
2. Use Technology to Deliver Training
For internal training, technology can be a cost-effective way to deliver leadership training during economic uncertainty. Online training programs and webinars can provide employees with the knowledge and skills they need to develop their skills. These technologies also offer a more flexible and judgment-free environment, allowing employees to complete training at their own pace and on their own schedule.
3. Partner with Experts
Partnering with experts in leadership development can provide businesses with access to the latest research and best practices. These experts can provide state-of-the-art systems and proven curriculum while offering facilitated peer groups access to ideas from other companies. Programs also often include specific, targeted, one-on-one leadership coaching for your team. These partners are able to help businesses tailor their leadership development initiatives to meet their specific needs.
At Leadership Resources, we specialize in transforming promising achievers into high-performing leaders through our comprehensive leadership development programs. Our tailored plans empower individuals to reach their full leadership potential, driving organizational success. We are a dedicated partner that is always ready to support you with your people strategy.
4. Create a Culture of Continuous Learning
No matter what, you must understand that investing in leadership development is not a one-time event but an ongoing process. To create a culture of continuous learning, businesses should encourage employees to take ownership of their professional development. Leaders should be encouraged to seek out new learning opportunities and to share their knowledge and skills with their teams.
5. Measure the Impact
Measuring the impact of leadership development programs is essential to ensuring their effectiveness. Businesses should establish clear metrics for success and regularly evaluate the results of their training programs. This will help businesses identify areas for improvement and ensure that their investment in leadership development is delivering the expected returns.
Invest in your people for sustainable success
Investing in leadership development during times of economic uncertainty can have significant long-term benefits for organizations. By providing employees with the skills and knowledge needed to become effective leaders, businesses can improve employee morale, increase innovation and creativity, and better respond to changing market conditions. To achieve these benefits, businesses must carefully plan their leadership development initiatives and focus on the essential skills and knowledge needed for success. With a strategic approach, businesses can invest in their employees’ leadership development, even during times of economic uncertainty, and build a strong foundation for future growth and success.
Are you ready to invest in your people and navigate uncertain times with strong leadership? Contact us today to explore how our leadership development programs can drive your organization’s success. Let’s embark on a transformative journey together, investing in your people for a resilient future!
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Quality of leadership largely determines whether an organization rises, falls, or remains stagnant. But leaders do not magically descend from some higher realm. They are cultivated over time through experience, education, and perseverance.
Nearly every company contains its share of potential leaders, and it is the responsibility of current leaders to identify and foster future leadership roles or else risk leaving a major hole in the organization. Failing to spot a future leader puts the company at risk of losing them forever.
Of course, not every worker is destined to be – or interested in being – a leader. Investing in these individuals is not a waste of time, but the lion’s share of leadership development resources are better spent on those who display the potential to hold a leadership role.
With that in mind, let’s go over how to identify future leaders at your organization.
Who Goes the Extra Mile in Your Company?
Past behavior is a good indicator of future behavior, especially when it comes to self-motivation and a willingness to learn. When seeking the future leaders of your company, a good place to start is by looking at previous results.
Consider who in your organization consistently goes above and beyond expectations. Look for people who think beyond the basics and seize opportunities to try new things and assist others.
- Who seems to have a burning desire to do more, learn more, and connect more?
- Which salesperson might not have the best sales numbers yet, but seems genuinely interested in being the top seller?
- Which customer service rep always leaves customers chuckling and smiling?
- Who’s always talking about wanting the company to grow?
- Who’s bursting with creative ideas?
In addition to work-related tasks, give a closer look to the employees who seem personally dedicated to outside causes and personal hobbies that show dedication. On an even more basic level, keep an eye on who helps out around the office simply because they care. They may have hidden leadership potential.
- Who stays behind to help clean up after an employee lunch?
- Who seems to remember everyone’s birthday and helps them feel special?
- Who has ideas for company celebrations and outings?
Employees who are highly motivated, results-driven, and interpersonally connected tend to show their enthusiasm without specifically being asked to do so. These are highly valuable employees and team members who come up with new, innovative ideas that drive the company’s efforts into new territories.
Pay close attention to the people in your company who keep the enterprise moving forward with passion, as they already exhibit strong leadership qualities. With extra support and encouragement, they could become your company’s future superstar managers and executives.
Weigh Both Potential and Performance
Also, look beyond your sales and customer service staff. Even if they’re not your top performers in terms of your bottom line, they might be perfect fits for various leadership roles in the future. Provide leadership training now, and your company could help all kinds of people become top performers who reach new heights. Performance is undoubtedly a key indicator when spotting future leaders, but it’s not the only indicator. You may have employees who hold high potential but who are currently diamonds in the rough. They may work extremely hard but don’t seem to exude much leadership role potential quite yet.
“Leadership potential” is a somewhat ambiguous metric, of course, and therefore more difficult to pick apart than hard data. Still, pay attention to potential leadership skills, such as:
- Strong communication
- Organizational skills
- Team-building aptitude
- A desire to grow and learn
- Flexibility and adaptability
- Strategic thinking
- Humor and creativity
- Openness to feedback
- Willingness to be held accountable
Don’t make the mistake of thinking that a quiet or reserved person is incapable of being a leader. Not every leader is a bold, take-charge type. Some leadership roles call for more measured forms of leadership that are a great match for more reserved people.
Shake Up the Structure
Another helpful way to identify future leaders is by stirring the pot a bit. Start rotating job duties or assigning new roles to people every now and again. In doing so, some individuals will take full advantage of the opportunity, learning new skills and pushing themselves beyond their perceived limits.
Others may wish to stay in their comfort zones or might buckle under the pressure. You’ll be able to see who thrives when given more responsibility and who shies away from it or outright rejects it. This technique is known as job rotation, and it’s common in certain industries. Companies use it to see who can handle leadership, to prepare for audits or prevent fraud, and to keep employees engaged so they don’t burn out.
Job rotation is a powerful exercise for succession planning, as it can help you determine which candidates can adapt quickly and take on new roles when necessary. Not everyone is the right fit for leadership, and that’s okay. The goal is to find the right candidates for immediate additional leadership development.
Ask Yourself: Who Is Asking Questions?
While not everyone who asks questions is bound to be a leader, all future leaders ask questions. Leaders are curious, peppering people with questions about pivotal issues that impact the company, their teams, and their personal futures.
This spirit of inquiry is directly related to strong communication and therefore strong leadership. Questions are a huge part of tackling thorny issues and finding workable solutions. People with leadership potential also have the bravery and boldness to be inquisitive.
So keep an eye on those who take the time to clarify concepts, inquire about plan specifics, seek solutions to ongoing problems, and ask seemingly simple questions that others might be too timid to ask. These are the hallmarks of a potential leader and someone who inspires others to achieve great things.
Train Your Eye for Emotional Intelligence
Emotional intelligence, or EQ, is one of the most important qualities of a good leader. Those who can listen to the concerns and suggestions of others and act accordingly strengthen the company’s culture, encourage employee buy-in, promote teamwork, and improve the organization’s reputation and operations as a whole.
EQ is about understanding what people mean, even when it’s not what they say. This is a challenging concept for many people who aren’t naturally intuitive. In a professional setting, EQ is about being willing to have complex interpersonal interactions that reveal deeper truths and help move issues forward.
Contrary to popular myth, emotional intelligence is learned and not inborn. It’s a skill that can be developed through education, coaching, practice, and determination. Emotionally-intelligent company cultures tend to be more successful because they can nimbly seize opportunities that arise day after day.
When looking for EQ in future leaders, look for individuals who display empathy, self-awareness, self-regulation, motivation, and strong social skills. These individuals are often poised for leadership positions, with some additional guidance and support.
Who’s Personally Invested in the Organization?
Even if you’ve found a handful of candidates who meet the above criteria, you have to consider whether or not they’re in it for the long haul. Are they invested in your company? This isn’t a strictly financial question. It’s about an emotional and psychological investment that goes beyond the paycheck.
Those who show strong future leadership role potential are in high demand, after all, and many businesses spend significant resources training future managers only to have them exit the organization shortly after. This is a cycle of employee loss that’s much easier to prevent when you identify future leaders and nourish them to their full potential.
Developing future leaders in your company starts with identifying the best candidates and continues with retaining them. You may be pleasantly surprised at how many people in your organization want to move up in the company and remain working there if you give them the right motivation to do so through leadership development.
While you can’t force any of your leaders to stay at the company, investing in their growth is a crucial way to retain your top talent. And those who routinely express their interest in the company’s future and their role in it are top contenders for future leaders. In short, if a potential leader is invested in your organization, you must invest in their development.
The Accelerate Leadership Program
Does your company need additional assistance with how to identify future leaders and give them the support they need to flourish? At Leadership Resources, our goal is to help companies thrive through deploying effective leadership techniques, especially when it comes to nourishing emerging leaders.
Any company hoping to spot future leaders among its employees would benefit from leadership development coaching and education. Leadership coaching and development programs go far beyond basic leadership training programs because they use a holistic approach that incorporates a proven process, customized coursework, peer interactions, leadership coaches, software, and an archive of helpful resources to help them stay engaged.
Consider the Accelerate Leadership Program (ALP), which helps participants expand their leadership confidence and knowledge. ALP allows each participant to hone their leadership style while learning the essential skills it takes to connect with people and lead teams to success.
At Leadership Resources, we help companies identify emerging leaders and encourage them to reach their full potential. When your company needs to implement an effective future leadership strategy, we’re here to provide expert guidance and support.
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There is no single “right way” to operate a business or poise it for long-term success. Every enterprise is unique. Still, specific leadership development approaches transcend these differences, offering near-universal benefits to businesses of all sizes and types.
Strategic leadership refers to one such approach to business management that can yield numerous long-term benefits when properly implemented and executed. Of course, it’s worth noting that the upsides of the strategic leadership approach are contrasted with some downsides, too.
Let’s look at the pros and cons of strategic leadership. In particular, we’ll focus on how your company can gain the immense benefits of strategic leadership while minimizing the impact of any potentially limiting factors.
What Is Strategic Leadership?
Strategic leadership can be defined as a leadership philosophy that prioritizes the communication and execution of a particular vision via tangible, streamlined actions and processes. In other words, the strategic leader not only generates and clarifies a business’ vision but also adeptly leads its team toward realizing said vision one step at a time.
The best strategic leaders can simultaneously keep the big picture and the key details in mind, which is precisely what allows their business to achieve its short- and long-term goals. The leadership skills required for this brand of leadership include strong communication, a focus on culture, judicious deployment of power, self-control, compassion, consistency, loyalty, and strong motivation.
The Plus Sides of Strategic Leadership
Many potential leadership development benefits come with the strategic leadership approach. First, strategic leaders can unite teams, generate buy-in, and keep everyone on the same page as they work together toward a collective goal. In this way, each strategic leader keeps their team members from losing focus or losing touch with one another, which makes it that much easier to move the entire business forward.
Also, strategic leadership establishes a framework for practical decision-making. When goals are clearly communicated, everyone can better contribute to the collective vision. Strategic leadership also facilitates impartial, long-term thinking because it filters daily decisions through the lens of the broader vision.
Strategic leadership also encourages company-wide accountability and productivity, which sets the stage for overall success. Although some employees may fear the concept of accountability because it sounds a bit scary at first, the strategic leadership approach embraces positive accountability by incorporating active listening, interpersonal feedback, emotional intelligence-building, and leadership training.
Finally, the best strategic leaders cultivate commitment among their teams by acting as daily role models for proficiency and practicality. In other words, they practice what they preach! For all of these reasons, businesses should consider investing in strategic leadership training.
In fact, pursuing the strategic approach to leadership is one of the best ways to ensure a company succeeds at attracting top talent and retaining superstar employees. High achievers are naturally attracted to companies that come with the benefits listed above, and they’re more likely to remain at companies that are supportive and successful.
Imagine your company as a huge rowboat that’s out at sea, spinning out of control. A strategic leadership plan not only helps everyone put their paddles in the water and row together in unison, but it also points the boat in precisely the right direction so you arrive at the desired destination as quickly as possible.
The Setbacks of Strategic Leadership
A strategic leadership approach isn’t always a flawless one, of course. As with all long-term processes and goals, there’s no way to know for certain what the business, industry, or global situation will look like in the next year, five years, decade, and so on. A major challenge like a national economic instability or worldwide health crisis can put a strain on your organization.
Personal and professional stress is a side effect of these situations. In this way, long-term strategic thinking itself can become a significant expense and source of leadership stress, especially if a seemingly solid plan becomes irrelevant in the face of unpredictable changes. This is why strategic leaders must be as flexible as they are visionary.
In a similar vein, strategic leaders can get lost in the bigger picture and start neglecting the business’ most pressing issues and needs, which can cause budding problems to go unresolved and eventually interfere with the very vision in question. This can put pressure on sales performance and other key metrics of success.
Ultimately, a lack of attention to the present moment can halt company growth and even result in long-term harm. Strategic leaders who either take too many risks or are too risk-averse can cause the company to miss out on key opportunities.
On the flip side, even sudden rapid growth can come with a dangerous downside. What if you leverage strategic leadership and suddenly find runaway success? The human beings responsible for handling extremely fast growth can become bogged down and overwhelmed in the process. Your employees need the company to help them cope successfully with this rapid pace of change.
To avoid negative outcomes, a company can prioritize fostering a positive and supportive organizational culture. This includes addressing the foundational elements of the Success ChainTM, like actions, behaviors, attitudes, and habits of thought.
It’s also essential to implement company structures and procedures that nurture strategic leadership, like succession planning, using an entrepreneurial operating system, and choosing technological solutions that support rather than hinder success.
Developing a Winning Strategy for Your Leaders
Strategic leadership is not inherently good or bad, but rather a tool that can raise a business up for years to come or sink the whole ship for lack of seeing the iceberg straight ahead. Every enterprise must determine its own balanced approach to strategic leadership development so it’s able to safely navigate the current moment while aiming for the bigger goal in the distance.
At Leadership Resources, our purpose is to make the impossible possible through people. We aim to do so by helping individuals develop patterns of success that will decrease stress levels and maximize productivity. We offer a wide range of coaching and business consulting services that help you support your valuable employees’ personal and professional success.
Contact us to learn more about what we do and how it can help your business succeed and grow at times like these when you need it most. We strongly encourage any company interested in strategic leadership to explore the Accelerate Leadership Program, which is explained in more detail below.
Strategic Leadership With the Accelerate Leadership Program
The Accelerate Leadership Program (ALP) is one of the best ways to ensure your company takes full advantage of the benefits of strategic leadership while limiting any potential downsides. It helps you get the most out of your leaders at all levels.
Enroll as many emerging leaders as you wish, and they’ll each experience a leadership program that feels personalized and individualized. They’ll develop their leadership skills alongside their peers in a proven leadership curriculum that involves interpersonal skill-building, leadership coaching, and a progressive two-stage program that uses our proprietary Accelerate software to guide each participant to success.
Ready to learn more? Explore ALP now or schedule a consultation with us today. We’ve helped hundreds of companies support their high-potential leaders through skillful strategic leadership. You could be our next of many success stories!
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Competent leadership lies at the heart of every successful organization. That said, strong leaders don’t appear out of thin air. While some individuals display a propensity for leadership at an early stage, their skills must be honed and directed towards the business’s long-term goals. When properly managed, a company’s top talent paves the way for its future, taking over roles left vacant by previous leaders who have moved on – two terms describe this larger process: talent development and succession planning. But while these concepts are closely related, they’re not one in the same. Understanding the similarities and differences between these two processes will help you figure out how to approach the ongoing development of your leadership team.
What Is Talent Development?
Put simply, talent development (also dubbed talent management) refers to an organization’s various processes dedicated to the assessment and advancement of their most promising employees. This process begins at the recruitment and hiring stages, wherein existing leaders seek the best candidates for particular roles. Once a new hire is on board, efforts must be made to retain this talent, especially in a highly competitive market. Talent retention and leadership development go hand in hand – when employees are incentivized to grow within an organization, they’re more likely to stick with it. There’s always a risk associated with talent development, of course, as this process also makes your employees more attractive to other employers. Generally speaking, the potential benefits of continuous talent development and management outweigh the risks.
What Is Succession Planning?
Whereas talent development takes a close look at individuals, succession planning first takes a close look at specific roles. Once key roles have been identified, current leaders must consider which qualities are required for filling said roles when they become vacant, and which employees are prime candidates (internal or external) for taking on these responsibilities when the time comes. If you’re wondering, “Why is succession planning important?” consider the pitfalls of losing a C-level leader without an adequate substitute for an extended period of time. Proper succession planning ensures that every vital position maintains strong leadership, securing the organization’s legacy.
How Talent Development and Succession Planning Interact
Succession planning and talent development are unique processes, but they’re inextricably linked. Without a thorough leadership development plan in place, you’ll have a hard time filling existing and new leadership roles in your organization. Likewise, without the incentive structure inherent in succession planning (i.e., major promotions and structural changes), your top talent may feel less motivated to grow within your company and stick around for the long haul. In other words, the best approach to both talent development and succession planning is one that understands the connection between them and facilitates a structure that cultivates leadership that propels the business forward.
Determining the Needs of Your Leadership Team and Organization
Different leaders within your organization’s leadership team will have different ambitions and needs. Budding leaders still have plenty to learn, but they also have a lot to teach their more seasoned peers. Leaders who have been around for some time might be preparing to retire, and others might be seeking employment elsewhere. Figuring out what your leadership team and your business needs requires strong communication and transparency. Leaders should promptly know when a vacancy is on the horizon and whether or not they’re in the running to take over the position. Everyone should also be kept in the loop regarding the organization’s mission and direction moving forward. And talent at all stages should continue to receive first-rate training and development to prepare them for whatever the future may hold.
At Leadership Resources, our purpose is to make the impossible possible through people. We aim to do so by helping individuals develop patterns of success that will decrease obstacles and maximize productivity. Contact us here to learn more about what we do and how it can help your business succeed and grow at times like these when you need it most.
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No one would argue against the importance of training. Whether you’re trying to get fit, learn a new skill, or form new habits, sticking with a training regimen is necessary for helping you achieve your goals and continue to grow. And yet, when it comes to training leaders within an organization, so many efforts fall short. Why is this? In this blog, we’ll explore why traditional leadership training models so often fail, and what you can do to foster more effective leadership development.
What to Know About Failed Leadership Training
Pitfalls of the “One and Done” Mindset
Training can take many different forms, but it always contains an educational component. As all students know from experience, some educational tools are primarily focused on delivering concrete answers that one can memorize and check off on a multiple-choice questionnaire – other programs, however, are rooted in cultivating a deep understanding of a topic and all its nuances. Leadership training too often falls into this former category, placing more emphasis on the completion of a course than on continued growth. A comprehensive leadership development program, on the other hand, recognizes that leaders never stop learning, providing foundational tools and support systems that help leaders adapt and grow throughout their careers.
Training Can Be Too Narrow or Too Broad
Leadership training programs often have another major problem: they’re either too hyper-focused on an organization’s specific operations or so broad that leaders struggle to apply what they’ve learned in any tangible way. Much like the story of Goldilocks and the three bears, the key to continued growth lies somewhere in between. The ideal leadership development program should offer a wide range of resources and tools, so all bases are covered – but it should also be customized to comfortably mesh with your organization’s vision and goals. At Leadership Resources, our Accelerate Leadership Program is multi-faceted in this way, providing integrated software, leadership content, personal and communal development processes, emotional intelligence training, one-on-one coaching, and more.
The Issue Is Systemic
There’s a bit of push and pull when it comes to training leaders within a particular organization. On the one hand, existing business leaders want to maintain a steady ship, so leadership training is key. On the other hand, cultivating new leadership can put this stability at risk, for better or worse. What often happens, then, is that training protocols become too restrictive. This stagnation is usually unintentional and systemic in nature. Simply put, if individuals aren’t empowered to make necessary changes to the existing system, the system will retain its power, preventing meaningful change. So, in order to unlock the true potential of budding leaders and foster ongoing leadership growth, certain structural barriers must first be overcome.
Overcoming the Obstacles of Leadership Training
The question remains, then: how can a business overcome its systemic issues and provide a leadership program that makes a lasting impact on the individuals and the whole? For starters, top-level leaders should re-establish the organization’s values and clearly define a strategic plan. From there, collect anonymous feedback on current management and training protocols to pinpoint key issues. To tackle these concerns, you may need to reconfigure roles and responsibilities and create new goals aimed at affecting real change. Use key performance indicators (KPIs) to measure how well you’re achieving these goals and make adjustments as needed. Taking the time to dig into your business’ systemic failures and obstacles in this way will allow you to implement more effective leadership development processes. And as you cultivate stronger leaders, it will become easier to continue making these structural improvements, creating a positive feedback loop that propels your organization (and everyone in it) forward.
At Leadership Resources, our purpose is to make the impossible possible through people. We aim to do so by helping individuals develop patterns of success that will decrease obstacles and maximize productivity. Contact us here to learn more about what we do and how it can help your business succeed and grow at times like these when you need it most.
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What to Know About Leadership Team Development
What Is Leadership Team Development?
Leadership team development refers to initiatives, materials, and opportunities aimed at helping your leadership team hone existing skills and learn new ones. The best leadership development programs help uncover potential blind spots in your leadership team and form new habits that propel the entire organization forward – leaders also find ways to grow as individuals. Let’s explore five key signs it’s time to begin implementing a strong leadership team development program in your organization.
1. Team Members Aren’t Fulfilled in Their Current Roles
Ideally, each and every one of your employees will be well-suited for the tasks under their purview. However, as time goes on, some team members might lose interest in their current roles, and others might no longer perform as well as they once did, despite their previous proficiency. One way to resolve these setbacks is to provide new opportunities for your team members that allow them to explore other roles and take on new responsibilities. However, without proper leadership development, said employees might not be prepared for a promotion or even a lateral move. Therefore, it’s crucial to provide leadership team development resources for your people so they’re ready to accept new challenges and switch roles when the time comes. Otherwise, you may be left with dissatisfied team members and uncomfortable overlaps in duties.
2. Communication Is Faltering
Leaders and employees within your organization must stay on the same page in order to make progress – this requires strong communication. If team members begin to lose sight of the collective vision or establish different benchmarks for success, everyone will struggle to work toward common goals. Improper communication will also make it difficult to resolve issues, which can fester over time. The importance of leadership development programs in regards to improving communication cannot be overstated. The best leadership development programs prioritize transparency and consistency so that there’s little room for misunderstandings or long-term conflicts in the future.
3. You’re Experiencing High Turnover
If your business is having a hard time holding onto its best people, it certainly stands to benefit from leadership team development. Simply put, people won’t stick around for long if they feel they’re not appreciated or that they’ve run out of room to grow within your organization. Honing leadership skills in all of your employees improves retention rates by, 1) expressing how much you value their personal growth, 2) opening doors for promotions and other opportunities, and 3) keeping your business competitive. The stronger the leaders inside your organization, the more formidable and valuable your business becomes – and people will want to be a part of that.
4. Your Team Is Missing the Mark
Performance issues are another key indicator that your company needs to invest more heavily in leadership development. It’s important that your employees not only continue to meet their goals but also that they’re able to adapt to a shifting marketplace. Goals and benchmarks are bound to change, and everyone within your organization must be able to face these challenges and changes head-on. A comprehensive leadership development plan improves employee flexibility and proficiency, ensuring that your business’s goals are continuously met or exceeded, no matter how things change over time.
5. Your Organization’s Future Is in Question (Succession Planning)
Even your most loyal and long-term employees will retire or otherwise leave at some point. If you want your organization to stand the test of time, you must be prepared to replace existing leaders with new blood when the time comes. As alluded to earlier, these roles can only be properly filled if you have employees at the ready who harbor the experience, skills, and passion to move up the ladder. So, you must always consider who someone’s successor will be – if you struggle to find an answer, you must make a quick and concerted effort to increase your business’ leadership development initiatives.
At Leadership Resources, our purpose is to make the impossible possible through people. We aim to do so by helping individuals develop patterns of success that will decrease obstacles and maximize productivity. Contact us here to learn more about what we do and how it can help your business succeed and grow at times like these when you need it most.
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Though there is certainly no shortage of “Help Wanted” signs across the U.S. right now, many businesses are struggling to welcome new people aboard. The past two years have been challenging for employees and business leaders alike, and there’s no telling what the future will hold. Those in charge of team management may find themselves in a bind these days – even if they’re overseeing a solid team, it might lack in size. Though a smaller group can actually make team management easier, it can also limit productivity and growth. With that in mind, what can management teams do to prepare for the future when it’s been difficult to hire new team members? Let’s discuss.
How to Prepare for the Difficulty of Hiring New Team Members
Re-Establish Your Mission and Goals
As the world slowly returns to normalcy, there’s perhaps never been a better time to take a step back and re-evaluate your business’s and team’s priorities. Balancing multiple projects while short-staffed is never easy, but some projects are bound to be more essential than others. Consider whether and how your organization’s mission and goals may have changed since last year (and the year before that, etc.) – you might find that certain roles no longer need to be filled or that other roles can evolve, combine, and so on. Indeed, managing a smaller team might help you prioritize and focus on the most pressing matters that will propel your business forward. And when it becomes easier to recruit new team members once more, you’ll have a stronger grasp on the types of people you need and what to expect from them.
Focus on Developing Current Employees
Plenty of value can be derived from hiring new people. That said, you don’t want to bring new people on board simply for the sake of it. After all, recruitment is costly, and retention is vital. In many cases, the person you need to fill a new, important role is right in front of you – at least, they have the potential to grow into said role. As such, it’s equally as important to engage in leadership development as it is to seek out new team members externally. Employees with leadership potential will want to find avenues for growth, and it’s essential to provide them with these opportunities to keep them around. Of course, promoting an employee internally can leave a lower-level position unoccupied, so it’s crucial to prepare for these outcomes in advance (i.e., succession planning). Still, adding a member to your leadership team is a key way to strengthen your organization from the inside. In fact, doing so may help you hire new team members in the future.
Rethink Your Hiring Process
Some things are simply out of our control, such as the current pandemic and its economic fallout. That said, you can still control how you approach recruitment for your business. Sure, your hiring team can’t magically change the way things have been for the past two years, but they can find new, creative ways to find the best people available and encourage them to apply. You might open your doors to a wider pool of candidates, improve and expand your employer outreach campaigns, create and advertise more remote work positions, establish new incentives for applicants, and so on. Not every initiative will succeed, but taking the time to reconfigure your hiring processes can benefit your business in the long run.
At Leadership Resources, our purpose is to make the impossible possible through people. We aim to do so by helping individuals develop patterns of success that will decrease obstacles and maximize productivity. Contact us here to learn more about what we do and how it can help your business succeed and grow at times like these when you need it most.
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The world of business is always in flux. Whether it’s a global pandemic like the one we’ve seen in recent years or the accelerating growth of technology across industries, the only constant is change. Rather than run away from change, leaders must be ready and willing to adapt to uncertain circumstances. Getting too stuck in your ways can quickly lead to organizational stagnation. On the other hand, constantly switching up leadership styles can create instability and confusion in the workplace. Sustainable leadership strikes a balance between resolve and flexibility. Here are some ways to ensure your leadership style can adapt to an ever-changing market and world.
How to Adjust Your Leadership with the Culture
Communication Comes First
As we’ve discussed many times before, communication lies at the heart of leadership. In order to continuously adapt as a leader, you must not only keep your people apprised of relevant information — you must also actively seek feedback to make sure your leadership style remains productive. Open and reciprocal communication allows everyone within an organization to stay in the know, address their ideas and concerns, and get ahead of issues before they arise. In this way, maintaining strong communication elevates company culture and allows it to bend with changing circumstances without breaking.
Stay Savvy to Current Trends
The list of important leadership qualities can become extensive. One key quality that’s sometimes overlooked, however, is staying informed — not merely in regards to internal matters but also relevant trends and changes occurring outside the workplace. After all, the only way to ensure your leadership style is adapting to a turbulent world is having a finger on the pulse of said changes. Losing sight of the world around you can silo you and your company in detrimental ways. Knowledgeable and worldy leaders can better anticipate important changes and therefore enter the future with more confidence and direction.
Never Stop Learning
This piece of advice is related to the previous one. More specifically, however, leaders should never feel as if they’ve completed their leadership journey. There is always more to learn about being a leader, especially considering how often and quickly the world around us changes. Indeed, ongoing leadership development prevents stagnation and opens new doors. Moreover, the more you grow as a leader, the skills you learn will naturally pass down to others in your workplace, promoting growth across the board. So, if and when possible, seek new opportunities for leadership growth — this might mean taking classes, attending networking events, hiring an executive coach, teaching others, and more.
Review Your Progress
Lastly, the only way to stay on the right track as a leader is to track your progress over time. Every business and leader will approach periodic reviews differently, but the idea is to check in at certain intervals and go over how specific strategies and goals are panning out (or not panning out). Taking the time to audit your personal performance as well as the performance of your peers, employees, and business at large will help you identify areas of improvement and celebrate successes. Once you have a more tangible sense of what’s not working, you can take steps to make purposeful change as a leader and an organization.
Embracing Change
We all would like certain things to stay the way they are, but most of these matters are out of control. While we can’t force the world to go in our direction all the time, however, we can respond to a changing world with tact. Focusing on strong communication, staying informed, constantly learning, and holding yourself accountable will allow you to adapt your leadership style for everyone’s benefit.
At Leadership Resources, our purpose is to make the impossible possible through people. We aim to do so by helping individuals develop patterns of success that will decrease onstacles and maximize productivity. Contact us here to learn more about what we do and how it can help your business succeed and grow at times like these when you need it most.
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The expansion of your business is both an exciting and daunting prospect. If this growth occurs too quickly or lacks direction, your business can soon find itself facing hardships. One of the best ways to keep your business growth from ballooning into chaos is to put the right people in the right positions. Of course, finding key employees during a period of growth is often easier said than done, and keeping them around is another challenge in its own right. With a steady and strategic approach, however, you can find key employees and get the most of their abilities when growing your business — here’s how.
How to Find the Right Employees
Clarify Your Business Goals and Roles
Your first order of business should be to determine what you wish to accomplish and which positions will aid in achieving these goals — these details will become your map and compass when seeking key employees. Without this map, you’ll have a hard time knowing where to look and what to do once you arrive. Clarifying your business growth goals involves re-examining your mission and vision and calibrating it for this new chapter (these changes might be minute or more ambitious). Once you’ve got a grip on your ideal direction, you can narrow your employee search, create better screening criteria, pose more focused interview questions, and more, saving you time and energy in the search and placement process.
Don’t Be Afraid to Search Outside the Box
Even if you have a strong idea of where your business is headed and how you wish to get there, business growth always includes some unknown factors. As uncomfortable as these unknowns might make you, note that the unexpected also holds the greatest potential for innovation. In other words, you might find key employees in places you wouldn’t have guessed. This isn’t to say you should just hire anyone on the spot — rather, don’t strictly limit yourself to potential candidates who fit a particular mold for the sake of easier employee management. Leave the door open for candidates with diverse ideas and unique energy. By stepping outside the box, you just might find someone who sparks further growth in your company.
Keep the Long-Term in Mind
No matter how rapidly your business grows at certain intervals, sustainable growth spans long stretches of time. Therefore, it’s imperative to seek employees who mesh with your current workplace culture and who won’t likely leave the second they get another offer. As we’ve discussed in previous blogs, onboarding the most talented employees is a double-edged sword since your competitors might try to pull them away from your organization. If you want to keep these key employees around and have them grow with your business, you must be prepared to negotiate terms and continue offering them development opportunities. It’s also worth asking candidates during the interview process if they see themselves sticking with your company for the long haul.
Consider Promoting Employees Within Your Organization
Sometimes the right person is already in your organization. Depending on how your business is growing and how quickly, it might make more sense to promote current employees rather than hire externally. One of the main reasons to invest in leadership development programs for your people is to prepare them to take on more responsibilities and enter new roles over time — this is also the essence of succession planning. Indeed, the more you invest in your employees, the easier it will become to identify key positions for succession planning and fill said roles with confidence.
Unlocking the Key to Your Business’ Growth
As your business grows, so too must its people — whether this means finding new employees or promoting current employees to fill new roles, Leadership Resources can help your business, and its people unlock their full potential.
At Leadership Resources, our purpose is to make the impossible possible through people. We aim to do so by helping individuals develop patterns of success that will decrease obstacles and maximize productivity. Contact us here to learn more about what we do and how it can help your business succeed and grow at times like these when you need it most.
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Leaders aren’t born — they’re made. If you’re fortunate enough to have team members with leadership potential in your midst, you’ll want to keep them around and help them grow. Retaining the top talent in your organization can be difficult if you don’t provide the proper incentives — your best employees won’t stick around if they don’t feel like they can grow with your company. That said, employee promotion comes with its own set of challenges. Leadership skills don’t necessarily equate to preparedness for a specific role, after all. And you don’t want to overlook your other employees when serving promotions, either.
With all that in mind, here’s some advice for properly promoting employees with leadership qualities in your organization.
How to Promote Good Employees
Hone Employees’ Existing Leadership Skills
Raw talent can open many doors, but even your most talented hires need ongoing training and education to refine their skills. Providing leadership training for employees is a great way to both create new leaders and strengthen existing leaders in your company. With access to the proper resources, employees can transform their abilities into reinforced skillsets that can be applied in a variety of contexts. Ultimately, this scaffolding will help prepare your leaders for different types of promotions.
Provide New Challenges and Opportunities
This tip takes more of a real-world approach. Training is undoubtedly useful for leadership development, but there’s no replacement for actual on-the-job experience. If you want to put your people to the test, give them opportunities to take on new roles and responsibilities, even if only for short periods of time. These trial runs will help those with leadership potential discover their interests, strengths, and weaknesses while also providing you with important information on their candidacy for specific promotions.
Understand an Employee’s Personal Goals and Desires
Communication plays a vital role in proper promotion protocol. For starters, not every employee will want a promotion at a given time, and springing such an opportunity on them when they’re not ready can lead to several issues. Moreover, some emerging leaders will be more inclined to take on certain roles as a way of reaching their personal goals and/or boosting their careers. In every single scenario, the more you know about an employee’s unique goals and desires, the easier it will be to offer the appropriate promotions. So, have regular one-on-one meetings with employees, asking them about what they enjoy doing, how they wish to grow in your organization, what they wish were different, etc.
Determine the Type of Promotion Best Suited for the Situation
Not all promotions are created equal. Dry promotions refer to title upgrades without a pay increase, up-gradations feature increased pay but don’t change anything about an employee’s responsibilities, accretion of duties derive from an increase in workload and come with a relative pay bump — the list goes on. There are also a variety of reasons/methods for promoting an individual, such as merit, seniority, necessity (ad hoc), or some combination of these. The exact type of promotion you dish out must correspond with your company’s needs and goals. You must also keep in mind that some leaders will be more or less receptive to certain types of promotions.
Stay Alert to Potential Openings
Succession planning is all about filling the right roles with the right people, so there’s always a pipeline of strong leadership even when current leaders retire, leave, or can no longer work. The more time you have to plan for such a transition, the better. As such, it’s important to constantly be on the lookout for up-and-coming leaders in your organization that might be able to step into a higher position when the time comes. Once you have some candidates in mind, provide them with the tools, education, and experience necessary for them to take on these new roles in the future.
Make It Known
Lastly, don’t leave your employees in the dark when promotions are available. Even if you have a select group of employees in mind for a given promotion, offering it to anyone interested creates more competition. In this way, creating promotion opportunities serves as a useful employee management tool. It’s also fairer to your current employees to offer the position internally before looking outside the business.
Promoting Better Leadership in Your Workplace
Leaders at every stage need experience, direction, and opportunities to achieve their full potential. Providing these things for your employees will allow you to more easily deliver the right promotions to the right people.
At Leadership Resources, our purpose is to make the impossible possible through people. We aim to do so by helping individuals develop patterns of success that will decrease stress levels and maximize productivity. Contact us here to learn more about what we do and how it can help your business succeed and grow at times like these when you need it most.
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