Don’t Stop Investing in Your Leaders: Why Investing in Your Leaders is More Important Than Ever!
By: Patty Prosser
Don’t Stop Investing in Your Leaders: Why Investing in Your Leaders is More Important Than Ever!
When organizations are faced with reducing costs, they frequently start with training and development for their most valuable assets – their leaders! When facing tough times, companies need their leaders more than ever to help guide and implement strategies that will help the organization navigate the challenges successfully. In the current “compete for talent” marketplace, companies who invest in their leaders, even in difficult times, have a competitive advantage.
When your company is facing uncertainty, you don’t want “accidental leaders” at the helm.
What organizations need, now more than ever, is a leadership pipeline that is robust and one where leaders are consistently invested in and developed. Your pipeline must be filled with individuals who know how to communicate, make decisions, plan and prioritize work, problem-solve, and think strategically. Good leadership development programs impact business results, too. Practical and intentional leadership development prepares leaders to build and implement projects that lead to sustainable change and ensure greater success. These skills aren’t developed “accidentally”.
The rate of change is rapid in practically every industry today. The best way an organization can effectively respond to change is to build their internal leadership capacity. That means not just preparing your leadership to better address these organizational challenges and change, but “upskilling” their workforce. That upskilling and development requires a strong learning and development infrastructure.
I’ve seen time and time again when companies tighten their belts and cut budgets, the training and development programs are often some of the first budget items eliminated. However, with the tough labor market, companies that stop investing in their leaders may find it hard to compete for top talent – talent that might help to better navigate current and future challenges. If organizations can’t provide top talent with the tools to succeed, as well as learn and grow, then they run the risk of losing them to companies who will invest in their personal and career development. Ultimately, companies must continue to invest in leadership development, including training and development programs, stretch assignments, mentoring, and coaching, even when the natural inclination is to cut these programs.
The Center for Leadership Excellence has been partnering with companies to help grow and develop their leaders for decades. We work alongside organizational leadership to develop and implement “customized” leadership development plans and training programs designed to meet the needs of individual leaders, as well as the strategic objectives of the organization. For more information about our programs, visit our website at www.cleindy.com or contact Patty Prosser at pprosser@cciindy.com.