Manage today, lead tomorrow. Unless your company is just hiring leaders from outside versus developing their own. Most companies have a strategy that combines the two options of fostering leadership from within and hiring specific skills from the outside. Either way, it is simply sound management to make sure the leaders that are brought up through the ranks are agile, competent, and can handle any challenges that are coming their way.
Employees quit managers, not companies. The most common reason for employee exodus is a bad manager. It makes practical financial sense to ensure that your managers are highly competent, are able to communicate to manage performance and are personally effective.
Assumed competence is dangerous. Just because Joe was a great team member, we may assume that he’ll seamlessly fit into a new leadership role. That assumption will result in failed promotions and the loss of star players. Decreasing or canceling management training programs entirely is simply a risk most companies would not take, if they thought through the chance they’re taking by throwing people into new positions without the tools they need to be successful.
Uneven management is the death knell of productivity and morale. Your organization’s leadership team is a cadre of different personalities and skill sets. Ask yourself, do they all fall within a defined band of competence, or are they all over the map in their performance management, communication effectiveness and professional presence? You can’t make every manager the same -and wouldn’t want to- but you do want to ensure that they all fall within an acceptable and even excellent level of business acumen and management skills. A practical management training program is how you’ll get there.
Well-developed managers and leaders build productivity and profits. Leaders with a developed understanding of behavior styles, flexing styles to achieve effective communication, organizational effectiveness, and active listening, are the backbone of your organization’s success. How can we let that critical piece of the success puzzle be left up to chance?
Various studies show that if you invest in human assets you can increase productivity by 5.2%. Overall company productivity would increase by 21% (www.forbes.com).
Decreasing hiring and firing will directly boost the profits. The cost of a good hire can be as much as 1.5 times the salary of the person you are trying to replace. It is much easier and cost-effective to train the employees you already have than to start from scratch.
Your business, like most businesses, wants to thrive. To cushion against market unkowns, economic fluctuations, and instill a competitive edge in today’s environment, you will need to ensure that your leaders are competent and can innovate their way to your organization’s growth and success.
ROI of investing into leadership and management-Leadership and management are the major driving forces of any company. They determine the overall company performance and profits. According to Forbes.com, you can boost your company-wide profit margins by 47% and can experience 86% better company value. Companies that invested in leadership development programs are amongst the top most admired companies list in Fortune 500 Companies. Make sure your organization is adopting the best practices of these most admired Fortune 500 companies!
At EDSI, we have been resolving employee development, leadership, generational, professional presence, and personal effectiveness issues for over 30 years. Contact us to learn how we can help increase productivity and profits in your organization. 800-282-3374 www.employeedevelopmentsystems.com