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A good leader doesn't just happen. It takes skill to lead a team. Here's how to create a leadership development program.
Fremont, CA: The terms “leaders” and “managers” are often used interchangeably. In the workplace, however, they have very different meanings.
The management process involves running a team, holding performance reviews, assigning tasks, and overseeing schedules. Leadership is about motivating employees, getting them to believe in your team's work, and achieving results.
All managers ideally be leaders, but not all leaders are managers. Yet when companies appoint managers internally, they often promote people without leadership skills and don't offer training to help them get up to speed. When their current leaders leave, they won't have a leadership development program to ensure the next generation of leaders can take their place.
How does a leadership development program work?
A Leadership development program assists employees in gaining the skills and knowledge they need to advance their careers and become leaders. HR professionals and company executives typically design these programs based on future staffing needs.
A successful leadership development program offers the following benefits:
A successful leadership development program can benefit your company, the program members, and other employees. Here’s how:
It reduces the cost of hiring
Training an existing employee costs much less than hiring a new one. It is best to fill leadership roles internally to reduce the time and effort spent recruiting new managers and executives.
A good leadership development plan can help you identify the right people for management jobs and provide them with training to help them develop their leadership abilities.
Improves retention rates
Today, workers prioritize learning and development opportunities, which are important ways to retain top talent. If an employee feels stuck and can't see any path forward, they are more likely to leave. If you don't offer training programs to help them gain new skills, your employee turnover rates will soar. They might discuss it with you first, but it won't make much difference if there is no leadership development program.
You show your employees that you believe in them by enrolling them in leadership development programs.
Facilitates management transitions
New leaders need time to learn how your business (and industry, in some cases) works. It takes time to get used to a new routine, meet their new team, and get to know the other managers. It takes time.
Most of the first few weeks will be spent in meetings getting up to speed. Will they likely like the role and the company, or will they want to leave after a few months, citing a lack of engagement?
They skip that process when you develop a new leader internally. You know they are a good cultural fit, and they know the team well. It's less stressful for existing employees since they don't have to get used to a new employee.
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