by S. Bahu | Sept. 14, 2020 | 5 Min Read
Why You Should Invest in the Best Leadership Training Programs
Throughout the United States, businesses spend approximately $166 billion each year on leadership development. Are you thinking about investing in the best leadership training programs at your company? Are you unsure why leadership programs are necessary?
Exceptional leadership training can transform your company.
Read on to learn more about the importance of investing in leadership development training. You'll also discover how to find the best leadership training program for your team.
What Is Leadership Development Training?
Before we dive into the specific benefits of programs that develop leaders in the workplace, it's helpful to clarify leadership training and development.
What is a leadership development program?
Leadership development and training programs provide managers with an opportunity to improve their leadership skills through guided coursework and intentional training. The program duration may vary depending on the amount of material covered and whether it's self-paced or instructor-led. Programs may involve one-on-one mentorship, group work, coaching, and even hands-on training.
Some topics typically covered in management and leadership training programs include:
- Onboarding new hires
- Performance management
- How to provide constructive feedback
- Change management
- Communication and interpersonal skills
- Understanding drivers and drainers
- Problem analysis and decision making
A leadership training program develops managers and helps them scale within the company. Individuals identified as leaders have a chance to learn more about what they need to do to succeed and continue progressing in their careers.
5 Business Benefits of Management and Leadership Development Training
The benefits of leadership training and development can apply to everyone on a team, not just managers and their employers. Strong leaders reinforce a company’s mission and vision to create a culture of inclusion and growth.
Investing in business leadership development shows employees that you support their future success. Consider these benefits if you want to understand why leadership programs are important.
Attract Better Employees
Finding great employees is a challenge for any employer. However, prioritizing leadership training is an excellent way to stand out from competitors and attract employees who want to upskill and rise above the rest. Today’s workforce expects to have opportunities to learn and move up the corporate ladder. Offering leadership development shows that your company is interested in the success of individuals, not just ROI.
Increase Employee Retention
LinkedIn’s 2018 Workforce Learning & Development Report notes that 94% of employees would stay longer if employers invested in their careers. Take proactive steps to keep great talent around! Hiring a new employee is far more expensive than retaining an existing one. Leadership training opportunities engage and motivate employees to continue working for you instead of seeking employment elsewhere.
Improve Company Culture
Company culture plays a big part in an employee’s decision to stay or leave a current job, and leadership directly influences company culture. If you start by identifying and improving key leaders, healthy company culture will inevitably follow. Plus, the advantages of leadership skills training not only positively impacts your employees but your bottom line.
Increase Financial Performance
When you offer leadership training programs, you can achieve significant returns on your investment. Companies that partner with Unboxed Training & Technology for management and leadership training programs have achieved double-digit year-over-year revenue growth. Plus, retaining leaders with training reduces new employee onboarding costs.
Improve Strategy Execution
If you want employees to be better at their jobs and execute your business strategy effectively, you need to give them the right tools. A custom leadership training program identifies business goals and priorities for leaders to use as their guide. Setting clear expectations from a leadership workshop can also help leaders and managers measure their performance appropriately.
How to Choose the Best Leadership Training Programs
If you want to experience the benefits of leadership in the workplace and see each manager excel, you need to choose the right leadership training program. If you don’t see the benefits of management training in your current program, it’s time to reevaluate if it’s working at all.
As you begin searching for a leadership training program, here are some key questions to keep in mind.
Is the training relevant to your business goals?
First of all, make sure the leadership program you're considering is relevant to overall business goals. If not, can the program be customized to fit your needs? Custom programs are valuable because they can help you identify and focus on the areas where your business needs improvement. From there, a training company like Unboxed Training & Technology can offer recommendations for the solution that will provide the most value to your company.
Does the program use compelling training content?
Pay special attention to the training content included within the leadership program. Is the content valuable and compelling for learners? Will it provide managers with new insights and perspectives that they weren't aware of before? If you're going to invest in a leadership development program, make sure it engages learners and grabs their attention.
Is the training compatible with the workflow of busy managers?
How compatible is the training with the way your business runs? Will trainees have easy access to materials on-the-go? Mobile-first, on-demand content is a must for training material.
Consider how the content is delivered. Is it presented in bite-sized chunks for easy completion? Or are learners met with large amounts of coursework or content that takes a lot of time to consume?
Training programs shouldn’t disrupt the workflow of busy managers but add value to their workday.
Invest in Leadership Development Today
Now that you understand the importance and benefits of leadership programs, do you have an effective leadership development plan? Evaluate your current program by downloading Unboxed Training & Technology’s free Leadership Training Topic Essential Checklist.
Do you see a need for leadership development in your workplace?
Do you want to start developing leaders within your company to help your business thrive?
Are you ready to invest in the best leadership training programs?
Schedule a demo of our custom management and leadership training program or reach out to our team at (888) 723-9770. We are here to be your partner in training.