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A company’s success is inevitable when it unlocks the full potential of its workforce. It is possible by embracing diversity in the company’s leadership team.
Fremont, CA: Being a leader in a company is not a cakewalk. Leaders are responsible for steering a company towards growth. The job comes with various challenges. This is why companies need to bolster their leadership development program in order to prepare their future leaders for potential challenges.
Let us look at some leadership development trends for 2021:
Embracing Inclusion and Diversity
A company’s success is inevitable when it unlocks the full potential of its workforce. It is possible by embracing diversity in the company’s leadership team. Research reveals that companies with a more diverse workforce are better at developing innovative products and services.
The days where strict hierarchical organizational structures produce results are bygone. Authenticity in leadership has come into the limelight, and leaders who create room for constructive, honest conversations about real issues that impact their team are more likely to thrive this year. Many organizations all over the world are investing in leadership development skills to teach le
aders to function in this way.
Promoting Healthy Culture
Company culture is a very important factor for its current employees and potential candidates. It is cultivated by leaders’ way of doing business, shared mindsets, and values. Developing a healthy culture where employees feel safe, valued, comfortable, and supported would lead to improved employee engagement, high-performance and innovation, retention, as well as overall business profitability. A recent study found that companies with healthy cultures deliver a return to shareholders 200% higher than those who scored low. The study also suggested that investing in healthy cultures allows employees to better adapt to change: 70 percent of the transformation failures experienced by businesses are because of culture-related issues.