Right from the beginning, organisations have paid attention to the development of their leaders. Though, as per one research, only 41 percent of the organisations believe that their leadership programs at the training centres are effective. Only two out of five organisations are developing leaders in a way so that it can benefit the business.
Leadership Development Programs Need Improvement
Studies on the current leadership programs indicate less effectiveness at all managerial levels. The problem is most evident with high-potential leader programs. While 90 percent of the organisations have programs aimed at emerging leaders and leaders with high-potential, the leadership development efforts of those organisations are not succeeding. This may be because, organisations are not focused on the right leadership competencies and they are not using the most effective development strategies for high-potential learners, who are at the start of their leadership journeys. Developing leaders is a huge task that includes preparing them to meet future challenges and present responsibilities.
What Studies Reveal?
Studies show that 32 percent of the organisation’s employee turnover can be avoided through better leadership. Also, better leadership can generate a three to four percent improvement in customer satisfaction and could eliminate five to ten percent drag in productivity.
Why Leadership Matters?
A lack of scaled training and development for high-potential leaders results in poor quality leadership. With little and minimal preparation for leading and managing, ineffective leadership behaviours are bound to take place incurring a high cost to businesses. Research indicates that poor leadership can cost companies an amount equal to around 8 percent of the company’s annual revenues. On the other side, the benefits of an effective leadership are also tremendous.
Reinventing Leadership Development by Democratising It
With the ever-increasing changes in leadership, the leadership development at training centres must be democratised. The democratisation of leadership programs allows all individuals to become leaders when their organisation need them. Highly accessible leadership resources, and bringing in the best that educational technology can offer are a great solution to train learners via training centres as they start their leadership journeys. Organisations of today cannot be as selective as they were in the past in terms of giving employees an understanding to be an effective leader and how to reach there.