11th November 2021
Leadership training should be a top priority for companies and corporations, even in tough economic times according to an article published on Business Week recently. When leadership training is neglected as organizations tighten their belts, it will affect the bottom line.
In the U.S., a study conducted by Expertus in 2008 indicated that 48% of those companies surveyed were cutting their leadership training budgets because of economic conditions. As the economy continued on a downward spiral, cuts in leadership training continued. According to Business Week, leadership training is essential in any economic climate in order to experience continued growth in the business arena.
The article goes on to compare a lack of leadership training to weeds choking out a garden; as the recession continued to get worse, managers focused more on maintaining status quo than motivating employees toward continued growth. The lack of leadership training meant that employees began to lack motivation and focus, resulting in “choked” or stifled growth in many companies and organizations. It is necessary for effective leadership training to be in place consistently, even in tough economic times.
Watch this exclusive video interview where Welsh Rugby’s celebrated Head Coach Warren Gatland shares about his team management style, his big lessons on and off the pitch, and how four soldiers in a Jeep helped him create a siege mentality.
During the last several years of economic crisis, employees have been insecure about their jobs, which lead to decreased morale; a lack of leadership training left employees without the essential guidance they need from managers. To sum it all up, the scarcity of available jobs coupled with job security issues and a decrease in leadership training meant that productivity in employees decreased tremendously. By implementing effective leadership training now, the garden can begin to thrive and grow again – meaning more efficient and motivated personnel, and ultimately continued business growth.
Business Week goes on to say that leadership training, contrary to popular belief, does not produce only long-term results. In fact, the article claims that results can actually be seen the same afternoon. Simple strategies such as a one-day workshop can often stimulate the team, motivating staff and improving skills for effective team leadership. In only hours, the level of motivation and productivity can be increased substantially – with the help of a good leader.
Several topics that should be covered in leadership training include setting objectives, team building and helping these teams grown to maximum potential, personal goal setting and how personal goals and business goals can be aligned. Leadership training is essential in helping employees gain drive and ambition; they must feel necessary and capable, otherwise they will feel as if they are just going to a “job” every day, which isn’t productive for the growth of the employee or the company.
Savvy business owners realize that leadership training is an investment in their employees and ultimately in the success of their company. The company as a whole is invigorated even in a faltering economy by the investment in leadership training. According to the article, a good leadership training program should include:
Leadership training will help companies “weed out” the negative aspects that are dragging the company down, and feed prospective new leaders for renewed growth and vigor, resulting in larger profits.
You must think about things that are achievable. It may be a little bit extraordinary but they must be achievable.” So speaks Malaysia’s longest ever serving former Prime Minister, Tun Dr. Mahathir bin Mohamad, in this exclusive MeetTheBoss.tv interview. Is running a country like running a company? Here’s your chance to find out.