According to Bersin & Associates, a human resources research and advisory services firm, U.S. companies increased leadership spending 14 percent in 2012 to approximately $13.6 billion. The research reveals that companies are even more focused on leadership development to remain competitive and to improve employee retention. After all, without a solid and effective leadership strategy, your business can quickly find itself in trouble. It takes effective, proactive leaders to guide a company to success. And that’s where leadership development comes in.
Types of Leadership Development Programs
There are many different types of leadership development programs—some are suited for business owners while others are more tailored for the leaders that help run your business. Programs range from company-sponsored programs to hands-on outdoor experiential programs. In addition, various universities offer leadership development training, including Stanford, Harvard, Yale and Columbia. Many large companies such as AT&T, Raytheon, GE and Lockheed Martin use such programs to train future leaders.
One way to improve leadership skills is via a rotational program that provides potential leaders with targeted cross-training in various departments with the idea that they will be better able to lead when they’re well-versed on all aspects of the company and its inner workings.
Another key aspect of leadership development training is to use ongoing mentorships with current company leaders. Through example and guidance, existing leaders exhibit the various attributes required to be an effective leader, including responsibility, accountability, vision and responsiveness.
When considering different programs, remember the best ones are action-oriented, rather than focused solely on theory. While explanations are helpful, those programs that give employees a chance to react to real-life leadership challenges and make decisions are the ones that help inspire leaders to grow.
Creating A Program
Developing a leadership development program for your company gives you the opportunity to identify and develop existing talent. Such a program also allows you to take a close look at your company’s leadership needs and sharpen your own skills in this area. When you design and implement your own program, you can ensure that key elements are included, such as your company’s corporate culture.
If you want to experience the benefits of a leadership development program for your company, consider the following steps to get you started.
Determine the appropriate leadership style. Pick the right one for your business given the corporate culture. Take a close look at your own leadership style and that of all successful leaders within your business.
Pinpoint desired leadership changes you want made. Are there gaps in leadership? Are there changes you’d like to make that require a change in how the company is led?
Identify potential leaders. Choose employees who could benefit from leadership development. Determine their specific leadership needs.
Develop a program plan. Based on the leadership skills required by employees, decide on a format for your program, which could be anything from a rotational program for specified employees to a classroom type development program that lasts several months to a weekend workshop or retreat.
Ask for evaluations from participants. Once the program is complete, ask those who received training to rate the experience and share if they feel that their leadership skills have improved. Revisit the employees on a quarterly basis with similar questions to see how the training they received affects them on a long-term basis.
Be Patient
No matter how good your leadership development program, not everyone is cut out to be a leader. Rather than trying to force leadership on employees who obviously don’t want the responsibility, identify those who are interested and give them the training and freedom to lead. And when it comes to your own leadership skills, don’t take those for granted—you can learn a lot, too.
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