The Importance of Leadership Training For Success
Leadership training is a subject very near and dear to my heart given that I was in a leadership position for over 25 years with my airline career at Jazz Aviation. Since starting my own company in 2015, I have been surprised by the number of businesses that don’t have any formal leadership training programs in place.
Current statistics show that the lack of leadership training in corporate environments is having an all time negative impact. For example, statistics show that 60% of first-time managers fail within their first year and 50 – 80% of executives fail within their first 18 months of a promotion into a senior management role. A staggering 93% of managers feel they need training on how to coach their employees. Not providing proper leadership training certainly leaves new managers and executives at risk for failure. Here are a few important points that I hope will influence your decision to provide leadership training going forward.
Managers and Executives Don't Need to Fail
Not only are first-time managers and executives failing, but statistics also show that 40% of managers fail in general. Sound leadership is critical to the success of any organization, so if leadership is failing at a high rate, the failure seen at the team level will also be higher.
Leadership Training Needs to be Part of College and University Curriculums
When it comes to getting hired and having an opportunity to be promoted into a management position for the first time, candidates who have earned a degree from a college or university will have a better chance. While a degree is certainly a competitive advantage for job candidates, it does not mean that a graduate has the necessary leadership skills to be successful in their chosen career. Academic institutions would be supporting their students so much more if they provided their students with leadership training courses as part of their curriculum.
Investing in Leadership Training Provides More Diverse Workforces
Companies are being scrutinized more than ever before for not having a diverse workforce. This can be overcome by providing ALL employees with leadership training. By investing in in each employee, businesses will find a larger pool of candidates to choose from which will also help make leadership teams more diverse.
It' All About the Bottom Line
When businesses don’t provide leadership training to their team, their managers and executives fail. When managers and executives fail, it means that business has to start over and expend more money on new hires. Paying for leadership development programs reduces employee turn over and saves money in the long run for businesses of all sizes.
Dealing With Change
Markets and business environments are in a constant state of change. For many, managing change is high on the list of challenges. Leadership training provides professionals with the tools that help new company leaders to overcome change and it also helps to motivate their teams to work through change along side of them.
One of the trends seen in start-ups and younger companies, particularly in the technology industry, is to do away with management. In working environments where bosses are absent, it's crucial that ALL team members have appropriate leadership training to be successful in a place where everyone is making decisions for the betterment (or detriment) of the company.
In 2015, the workforce experienced a significant shift to millennials making up the majority of the workforce. This generation sees a different work model and they have so many great ideas. Many of the millennials I chat with tell me they did not receive any leadership training while they were in high school or earning their degree. In this case, leadership training isn’t only important for the millennial generation, but it’s also important for more seasoned leaders who are trying to figure out how to connect with a generation they may be challenged to understand.
In conclusion, I urge you to consider the more leadership training new managers, executives, and team members have access to, the more successful they and your company will be. If you want to make an important investment in leadership training for your team, Jennifer Grant International is ready to help you.