Leadership development is a dynamic process. If an organization does not change itself for the better, it will not succeed. The workforce and workplace are constantly evolving and changing and that is why organizations have to change their leadership behaviors, skills and attitudes. What worked in the past may not reap the same result in today’s business environment.
In today’s workforce, there is a decrease in employee engagement compared to what existed a few years ago. Many blame this on the current economic situation. However, the decrease in employee engagement could be a reflection on the leadership of the organizations. The fact that employee engagement is reducing could be a sign that today’s leaders are disengaged from the workforce. Companies should realize that if this happens, it also affects those employees in whom the company has been investing. This puts the companies at risk, as they may end up losing their emerging leaders.
Any Time is a Good Time to Develop Leaders
Poor leadership will have an adverse impact on the company. Good leaders work to bring about change for the better, develop talent, resolve complex issues quickly and prepare for different situations that may arise in the future. They do all this simultaneously. While an organization may be looking to reduce its spending on leadership development in current economic scenario, it should realize that the importance of investing in senior and emerging leaders. Instead of focusing on the economic downturn and looking to get through this phase, it would be well worth for an organization to invest in leadership development right away.
Today businesses are being forced to adapt to the changing economic scenario and societal changes. As a result leaders need tactical and strategic skills along with strong moral values, complex thinking abilities and a deep sense of responsibility to get them through the changes that are taking place. That is why it is important for organizations to concentrate on leadership development at all levels instead of just the senior management. The need of the hour is to have leaders at all levels and it is only then that an organization can be successful tomorrow.
Once the current crop of leaders retires, there will be no leaders to lead the organization or the workforce. These retiring leaders will take their experience and knowledge with them and when this happens there have to new leaders to take over the helm and guide the organization forward.
Investing in Leadership Development
Due to the challenges and changes that today’s leaders face, it is important for organization to begin investing in emerging leaders. When an organization invests in leadership education, it can look forward to:
• Performing better than the competition and increasing its revenue and market share
• Building the competencies of its leader and the organization as a whole
• Cultivating an environment of customer satisfaction
• Having a succession plan in place
• Becoming the preferred employer in the job market
• Having effective leaders at all levels of the organization
Leadership education will help your organization build leaders, will develop and mentor other leaders, so that your organization has a constant supply of leaders at all levels of the hierarchy. Organizations that actually look at this education as an investment will be the organizations that will be successful tomorrow and will be able to overcome a turbulent economic situation like the one that the world is facing today.