As a CEO in several organizations, I have seen first-hand, many times over how profit margins increase when you invest in your team.
Over my 25 years of experience in strategic, operational, and financial management, I have had the privilege of working across industries and sectors. Let me share my experience working with one of my clients, an electric company whose story highlights the many reasons why leadership training matters to your people and your bottom line.
Following leadership training and coaching sessions, several supervisors, using their initiative, collaborated and designed training and action plans for junior apprentices. These executed action and training plans resulted in significant cost savings by reducing re-work, material project profitability as a result of delegation and capacity management, and improved resource use. This organization estimates this new approach to planning saved them well over a million dollars over a year.
This scenario’s outcome is extremely beneficial, so wouldn’t it be interesting to consider how much your company is potentially not realizing every day?
This company isn’t unique! All organizations can tap into their leaders and team members’ unlimited potential by training them to think and act like owners. Leadership training drives business results in the following ways:
Vision & Initiative
· People inherently want to be part of something bigger than themselves. Given the opportunity to add value and be valued, individuals will think bigger and better.
· Empowerment breeds engagement. Individuals relish the opportunity to put their personal stamp on their contributions to the company’s overall success.
Attraction & Retention
· Loyalty is a word some might think is lost in today’s world of business. However, we believe that loyalty does exist when your team believes their organization is putting the team’s interest first before profits.
· Let’s be honest here; we need our employees more than they need us. As Baby boomers and Generation X leave the workforce, our people are in higher demand than ever before. It is up to us to show them that we want them to be part of the organization’s future through our behaviour and actions. Providing your team with the tools and skills to succeed in their roles will only make everyone’s future brighter and more lucrative.
Culture, Problem Solving & Positive Conflict
· Failure leads to success. We should want our team members to push boundaries and explore new ideas and opportunities. This is, in fact, why the best companies evolve and prosper.
· Culture can be described in one word: behaviour. What you say and do matters every single day. Providing your leaders with a leadership style framework will set them up for success and pave the way for those following in their footsteps.
· We need healthy conflict in our organizations. The right kind of conflict will help organizations encourage diversity in thought, develop outside-of-the-box thinking, and wholesome problem-solving.
Providing leadership training to your team will result in a collective vision of the future and a clear roadmap to travel to achieve the organization’s goals. Outpace your competitors by ensuring everyone in your team brings their best ‘selves’ to the table, every day.
To read our previous blogs, visit: https://www.leadvantage.ca/blog