Developing leaders has been proven to increase profitability by increasing productivity, and right now we need productivity and profitability more than ever. Leaders require new skills to lead with confidence, in order to get high productivity. Developed leaders equals execution power! How else will you adapt and drive your new strategies forward?
The Time to Learn is Now.
With commuting and traveling less among other things, many leaders have more available time, and are working longer hours with a different rhythm. However, they don’t have the same opportunities to learn from peers in daily interaction, or they may find themselves consumed by multiple meetings with an endless parade of executables that leaves little time to exchange ideas. Specific developmental programs can provide the opportunity to share ideas, reflect on how they have recently performed, and generate new solutions. The relationships leaders make during programs can last a lifetime, creating peer networks that can transform organizational culture and deepen professional bonds. We remember colleagues we work with during disruptive times more than during “normal” times. Taking this opportunity to provide leaders with the right leadership mindset and the critical support of their peers will generate outcomes that extend beyond the pandemic, creating meaningful changes that can last throughout their professional careers.
Many Companies are Learning to Do More with Less.
How do you do more with less people? Leadership is the key to unlocking each team member’s ability. A single leader, working effectively to enable his or her team of direct reports, can increase the productivity and efficiency of the team exponentially. Even small increases to the individual outcomes of direct reports can have a profound multiplier effect on the work that is accomplished and the capacity of the organization to take on more business. Improving systems and processes is good, but ultimately people are responsible for execution. Good leaders extend the capacity of their team and reinforce the investment in systems and processes.
Highlight Your Star Leaders.
If you provide development now, star leaders will show their colors. How do we identify stars? A star leader is one who is eager to develop his or her team, understanding that the path to further advancement means proving you can lead at your current level. They are already asking their direct reports questions like, “Are you clear about top priorities?”, “What do you need from me to help with those priorities?”, “Where are you stuck in executing priorities?”, “What have your greatest accomplishments been?”. Identifying—and then rewarding—star leaders with the possibility to increase their knowledge and practice of leadership is a key to retention and the ability to generate leaders internally.
Improved Leaders. Improved Business.
Few leaders have been tested as severely and consistently as they are now being tested. We know that new learning is best adopted with practice and reinforcement, and leaders have every incentive to put new skills into play as they grapple with novel issues and seek unique solutions.
To this end, leaders deserve better development NOW. Losing your critical leaders, or your rising stars, could wreak havoc on your business recovery, as well as your future growth. But underperformance or disengagement could be equally disastrous. Taking steps to address the developmental needs of your leaders has never been more important, and all companies, whether thriving or challenged, need leaders to drive new strategies for business continuity. They need to remobilize their teams and create calm among the storm. Otherwise you risk the storm sweeping you away.