What Happens When You Put Off Leadership Development - PowerPoint PPT Presentation

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What Happens When You Put Off Leadership Development

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Leadership development isn't just a luxury but rather a real world strategy for running a high performance business. – PowerPoint PPT presentation

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Title: What Happens When You Put Off Leadership Development


1
What Happens When You Put Off Leadership
Development?
  • Business Results Suffer

2
Necessity vs. Luxury?
  • Leadership development appears to be one of those
    luxury items, something that the company can live
    without. And it is, or is it?

3
Outcomes Suggest.
  • What happens when you have leaders that need to
    develop good skills and the resources are just
    not invested? Employees these days are not
    willing to work in poor work conditions. Despite
    the current economy and unemployment rates,
    employees are still willing to give up a good
    job when they feel they are treated well by
    managers and leaders. The cost to the company
    can be huge.

4
Over the past few articles I have outlined the
impact of not addressing poor leadership,
employee turnover, reduced productivity, and poor
team performance. Ive outlined the potential
costs to the company and impact to the bottom
line.
5
A Company Story.
  • Recently, I talked with a company where this is
    exactly what happened. They decided to not
    invest in leadership development. The work
    environment continued to deteriorate for
    employees and turnover has occurred. The result
    an open position on the team, lowering the
    ability of the team to complete jobs and meet
    deadlines the need for leaders to invest time in
    hiring and retraining and ultimately more loss
    for the company and the delay in having a fully
    functioning team.

6
Initial Investment Saves Long-Term Funds
  • Had the investment in leadership skill
    development been made what could the outcome have
    been? Higher performance of the entire team,
    improved work environment and culture, and
    reduced turnover. A stronger company and
    stronger bottom line result.

7
Skill Development A Worthy Investment
  • For many leaders or business owners, leadership
    skill development is viewed as a perk, a
    non-essential investment, but the impact of
    failing to make this investment can be
    devastating to work teams, especially when an
    unskilled leader or manager is involved.  

8
Leadership Skills
  • Some leaders have pretty natural skills, while
    others have never been in leadership before and
    have had poor role models. These folks need
    skill development. They need to understand their
    role and the impact that they have on the
    workforce.

9
Invest In Leadership
  • When organizations do invest in leadership
    development positive outcomes are achieved for
    both the company and the individual. Leadership
    skill development can occur in house or via
    training and executive coaching.

10
  • Executive coaching helps to solidify skills once
    they are learned. The coach can provide feedback
    and additional opportunities for learning during
    skill acquisition and retention.

11
Budget for Success
  • A leadership budget should take both parts of the
    puzzle into account. Leadership skill
    development and monthly executive coaching.
    Costs can vary from a few thousand per year
    (4000) per staff person to 25,000 or more
    depending upon the level of training and
    coaching.

12
Evaluate Every Investment Including Leadership
  • When evaluating the investment consider the
    impact of the loss of just one staff person.
    Using the 150 of salary just one employee
    leaving the organization that is a 35,000 per
    year employee can cost the company 52,500 in
    replacement and retraining costs, as well as time
    lost from leaders and other employees due to the
    shortage. The savings that could occur by
    investing upfront in leadership development using
    these numbers could be 25,000 to 48,000.

13
Dont Kick Yourself Later
  • Business owners that fail to see the value of
    investing in leadership development for their
    managers and growing leaders kick themselves
    later when costs come back to the company.

14
Create a Strong Leadership Program
  • Creating a strong leadership development program
    within your company is a wise investment and in
    the long run saves money and increases income
    with increased team performance and productivity.

15
Take Action
  • For More Information and Our Executive Leadership
    Briefing
  • www.PerformanceImprovementSystem.com
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