However, just 13% of companies think they do an excellent job of fostering new leadership and management. And at the same time, existing leaders and managers are retiring while millennials comprise more of the workforce.
Now, L&D leaders are pressured to fill the leadership and management pipeline or risk seeing emerging millennial talent—which will make up 75% of the workforce by 2025—leave for new opportunities.
Right now, just 15% of employees feel the training they receive prepares them for leadership and management roles. If you give your employees engaging eLearning paths, you can flip this trend and fill your leadership pipeline.
Strong leadership development makes companies:
- 8.8x more likely to have high-quality leadership
- 9x more likely to financial outperform competitors
- 7.4x more likely to have highly-engaged leaders that stay with the organizations
Leadership training at all levels can create a culture of high performance that's built to last. Regardless of role, the following skills and characteristics of great leaders can be developed with proper leadership training:
- Vision: Business now changes faster than ever. Being able to understand the current positioning and have a vision for what the organization should be moving toward is critical for leadership roles. This is an explicit role for the CEO and other executives but can also be a valuable skill for individual contributors if the company culture fosters free thinking.
- Communication: Having vision won’t be very useful if leaders can’t communicate it to those on the journey. Being able to clearly explain thoughts and feelings with key stakeholders can keep the business aligned toward its ultimate goals.
- Making Tough, Definitive Choices: Not every choice will be the right one, but leaders are capable of making tough decisions and committing to them. Even if the choice requires some sort of self-sacrifice, good leaders will make decisions that contribute to the greater good of the vision.
- Humility: While confidence is important, it’s arguably more important for leaders to remain humble in their roles. People find it easier to follow humble leaders who can take criticism and recognize when they’ve made a wrong decision.
- Challenging the Status Quo: Leaders must be able to identify when change is needed, making dynamic changes to the company vision and understanding the line between good risks and bad.
Develop yourself as a leader that others will want to follow. Establish and execute your strategic vision and learn to harness the most powerful competitive advantage your organization has—its people. Courses include: Transitioning from Manager to Leader; Developing Executive Presence; Finding and Retaining High Potentials; Executive Decision Making; and more.
Innovation is risky but can propel companies forward when handled correctly. Learn how to drive the creation of innovative products and services by cultivating creativity and risk-taking at all levels. Courses include: Building Creative Organizations; Managing Team Creativity; Breaking Out of a Rut; and more.
Outside of the common traits of leaders, management development training must also focus on giving people the skills necessary to control and administer teams within the company.
Great managers are often characterized by the following:
- Unlock Talent: While leaders set the grand vision, managers can take stock of individual employees, recognizing talent and working to unlock the unique potential of each person within a team. Managers can find the best ways to integrate talented employees into both the team and the organization as a whole.
- Championing Individuals: Great managers don’t just back down from higher-level managers and leaders. Instead, they will champion the work of their teams, defending ideas and making sure employees are given credit for their contributions.
- Gain the Team’s Trust: Leaders are responsible for setting vision and making tough decisions. But it’s the manager’s job to keep promises with employees and clearly explain why plans have changed, rather than pointing blame for missteps or making excuses.
- Walk in the Team’s Shoes: While managers have to delegate tasks and track performance, there are times when they also have to step in and help the team with the work. When necessary, great managers are willing to do even the most menial tasks.
- Implement the Vision: Above all, managers put processes in place to execute the vision for the company. From setting clear goals to meeting with individuals one-on-one to keep tasks on track, managers ensure work is done well.
Learn the techniques necessary to keep up with constant change. Managers and leaders can find out how to plan change efforts while also addressing the cultural and emotional impact of change. Courses include: Change Management Foundations; Leading with Emotional Intelligence; Effective Listening; and more.
Learn how to make the jump to senior leadership by obtaining the skills to make decisions that drive value and revenue for the business. Courses include: Transitioning from Manager to Leader; Managing Up, Down, and Across the Organization; Managing Experienced Managers; and more.
Learn how to make the transition from managing to leading and drive business growth performance through decision-making and problem-solving. Courses include: Managing New Managers; Coaching for Results, Finance for Non-Financial Managers; and more.
Bonnie HagemannCEO, Board Director, C-Suite Coach/Advisor, TEDx Speaker, Published Author & Researcher with over 26 years of experience coaching, educating, and developing leaders
Shirley DavisCEO of SDS Global Enterprises who brings more than 20 years of experience as an executive in talent management, HR strategy, leadership development, and global diversity and inclusion
Bill GeorgeHarvard Business School Professor, former Medtronic CEO
Prakash RamanSenior Consultant, Executive Development at LinkedIn