Companies that invest in a leadership training program for their managers enjoy a 24% higher profit margin compared to those that don’t.
That’s a considerable lead that could bring a company to new levels, just by fostering a learning environment for its managers.
The best companies in the world today understand that people are their greatest asset. This is an idea that they, consistently, and authentically espouse.
The relationship between a team lead/manager and team members is paramount for activating great engagement and performance within teams, so when organizations want to create a positive work culture and drive business success, developing managers first is imperative.
Yet, too many companies still aren’t making the necessary investments in developing their managers, and thus, missing out on the key opportunities that would lead to long-term success.
So how can organizations implement a leadership training program and see promising results on business performance?
Innovative companies know that long-term success requires a pipeline of visionary leaders who can help build and secure a competitive edge, and a leadership training program focuses on precisely this.
A leadership training program is a structured program designed to equip managers and team leads within an organization with the skills and knowledge necessary to become more effective influencers who can contribute to corporate success on a higher level.
Some leadership training programs focus more heavily on developing technical skills, while others emphasize soft skills such as communication and emotional intelligence. With so many different program styles out there, it's important for individuals and organizations to carefully consider their goals and needs when selecting a leadership training program.
The top companies in the world gaining an edge in business today understand that their talent is their greatest asset. They back this idea by consistently investing in their people. They also know that the manager makes all the difference.
When the great performance and the great engagement you want to see from your people occur in teams, the relationship between the team leader and team members is paramount. The best companies invest in the people who develop and activate talent - and that person is no one other than, the team leads.
In the words of Mark Moses, founding partner, and CEO of CEO Coaching International, “the best CEOs do much more than bring in an occasional guest lecturer. They do group excursions to give team members opportunities for experiential learning. They help employees with continuing education. Most deep learning will take place outside the office—help your staff find and take advantage of those opportunities.”
In short, when companies neglect to train their managers, they miss out on many benefits.
When organizations invest in training for managers and team leads, they will develop:
We get it. Organizations need team leaders and managers who can develop relationships with their teams that will support their talent growth within an organization, and ultimately help a company flourish.
But despite the overwhelming evidence and information that the plethora of services, talks, articles, seminars, and conferences offer about this, too many companies still fail to establish the right training processes and continuously invest in their managers.
In fact, in 2018, the U.S. Bureau of Labor Statistics found that companies with fewer than 100 employees gave only 12 minutes of manager training every six months. Organizations with 100 – 500 employees provided just 6 minutes.
Common challenges companies face when training employees:
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Limited time and resources |
Many companies struggle to allocate sufficient time and resources for leadership development, which can lead to a lack of effective training programs. |
| Lack of immediate feedback | Employees may not realize when they are making mistakes or need to improve their skills, leading to a lack of engagement with the training and ultimately, a failure to develop the necessary skills. |
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Difficulty measuring effectiveness |
Companies may find it challenging to measure the impact of leadership development programs, making it difficult to justify the investment in these initiatives. |
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Inconsistent training among employees |
Even when training programs are available, they may be inconsistent in their delivery, with some employees receiving more training than others. |
| Lack of individuality within training programs | All too often, traditional training programs often offer a one-size-fits-all approach, failing to take into account individual learning styles and preferences. |
“The Age of Discovery in AI is over, and has been replaced by the Age of Implementation.” - Dr. Kai-Fu Li, AI venture capitalist
Artificial intelligence (AI) has been increasingly employed to revolutionize employee learning and development (L&D) processes for companies around the world.
Retorio’s AI-powered training program is an innovative solution for organizations that want to invest in leadership training for their managers. Retorio's training via video simulations immerses the learner in relevant, real-world work situations, and creates a way to achieve verifiable mastery of the necessary skills for the manager.
The program uses machine learning algorithms to analyze the user's communication style, identify areas for improvement, and provide feedback in real time. The feedback is based on data-driven insights that are generated by analyzing the user's verbal and non-verbal cues, such as tone of voice and body language.
Managers have a significant impact on the engagement and productivity of their teams. From establishing clear goals and objectives for their team to ensure that everyone is on the same page, to providing guidance and support and helping teams overcome obstacles, team leads/managers play a critical role in assisting businesses to succeed.
By providing managers with the necessary training and support, companies can ensure that they have the skills and knowledge to lead effectively, inspire their teams, and drive business outcomes.
It's time to incorporate AI into your L&D processes to develop your managers, or you’re going to be outpaced by companies that are.
Try out Retorio's AI-powered training here today and see how you can stay ahead!
Developing a leadership training program begins with understanding what kind of leadership training program would be appropriate for your company. There are many different styles that companies can implement to achieve their learning objectives. For instance, traditional lecture-style training, where a trainer delivers information and insights to participants in a classroom or conference setting. This style is a well-known training method, but tends to lack engagement and isn't scalable or sustainable for growing companies.
E-learning modules also gained popularity during the pandemic as an effective solution for remote or geographically dispersed teams. This allows learners to complete modules at their own pace and on their own schedule and usually includes a mix of text, video, and interactive elements to engage learners and reinforce key concepts. However, the lack of personalization tends to leave learners disengaged.
AI is a training solution that has caught a lot of attention in recent yearsAI-powered training solutions use machine learning algorithms to personalize the learning experience and adapt to the individual learner's needs and preferences. This helps to maximize engagement and retention and can lead to better learning outcomes overall. In today's globalizing world, where teams may be distributed across different locations and time zones, AI-powered training solutions can provide a consistent and high-quality learning experience for all learners.
By considering these different training styles and solutions, companies can develop a leadership training program that is tailored to their specific needs and objectives, and that maximizes engagement and learning outcomes for participants
Leadership training programs are imperative for companies to keep their managers up-to-date and effectively lead, which involves inspiring, directing, and educating others. As a company expands, it may face a shortage of effective leaders that hinders its ambitions. Nevertheless, targeted leadership training programs can directly address this issue and bridge the gap between performance and potential and ultimately help an organization to flourish.