Developing human capital is an essential aspect of business growth. All businesses, from the humblest home industries to huge multinational corporations, rely on their people in order to meet targets, execute strategies and expand further. Everybody has their part to play, and most of the responsibility falls on the leaders in the business to ensure everything happens according to process. It’s only natural that unlocking their leadership potential would lead to better profits.
Leadership development aims to improve the abilities and confidence of leaders in an organisation. It could include skills development in areas such as communications and interpersonal relationship. The most important thing to consider when putting together a leadership development programme is which skills are needed to lead teams that work well together, are proactive and collaborate smoothly.
There’s no getting around the fact that today’s environment is ever-changing, ambiguous, and uncertain. Factors like 4IR and the last 2 years of living through a pandemic have only made it more complex to navigate. The rise of technology has also naturally led to a more collaborative approach to problem solving, as well as an emphasis on individual employee initiative, as processes are taken online. Now, more than ever, organisations need strong leaders with new, solid skills, who are equipped to make decisions aligned with corporate culture and strategy.
Don’t only think of Leadership development as an opportunity for executives. Consider all the different levels at which leaders can emerge.
These are just a few of the considerations to make when embarking on a leadership development journey.
Leadership development can take time and it cannot happen without senior-level support. Commitment from all parties is essential to successful leadership development.
2. Business strategy
Leadership development should always support your overall business strategy. Whether you’re growing teams or laying down a succession plan, your strategy comes first.
3. Internal factors
The internal factors vary from organisation to organisation. One example is the current stage of your organisation in its life cycle. You may want to consider how leadership development can serve your organisation not only in its current stage, but future stages too, and how it will impact your organisation moving from stage to stage.
No exercise is free of challenges, and leadership development is no different. Here are some of the common challenges that organisations face when implementing a leadership development plan.
This not only refers to the funds and time required, but also the level of support from senior management and the priority level assigned to leadership development in your organisation. Human resources are just as important as capital resources, so it only makes sense to invest in your future leaders.
2. The wrong people
Leadership development is not only for top-level executives and employees who are already in management roles. Before starting a leadership development programme, it’s important to consider whether you’re putting the right people forward for upskilling. It is also vital to include new employees in your leadership development programmes so that you can reap the benefits in the future.
3. Lack of focus
There’s a business to run right now, and you need people working on that in order to ensure profits, but it’s important to set time aside for leadership development. If too much time is spent focused on executing roles, employees have less time to focus on upskilling.
Leadership development is a complex exercise in upskilling. It’s important to have a professional partner with extensive experience who you can rely on to ensure effective development of your organisation’s leaders. Get in contact with us to find out more about our leadership development solutions.