In this era of fast-paced change, employees are required to acquire advanced technical skills and soft skills to thrive in their jobs. Leadership training keeps them updated with the latest tools and techniques. Moreover, it develops their empathy, respect, thoughtfulness, and good communication skills. Thus, it prepares them for future growth and development. Strong people are capable of achieving business goals and can influence others positively. Leadership training is thus beneficial for the company and its employees.
Many leaders struggle to prove the effectiveness of their leadership training. They rationalize not attending training as they are more focused on the metrics. Yet, a case study shows that this isn’t an option. By investing in leadership development, managers can develop their employees and boost the entire company’s productivity. Even if the training costs a few thousand dollars, it pays off. Here are some ways to measure the value of training:
Return on investment:
When evaluating leadership training, companies can look for returns on investment. While this may sound simple, the results are often more complex than these statistics suggest. The following are four ways to measure the ROI of employee leadership training:
Determine the purpose of the training program. Will it build employee capacity, improve communication, or develop new skills? This data can provide the basis for creating future programs.
Measure the ROI of the program on business metrics.
Ask next-level managers how they will use the skills they acquire during the training.
One company recently used a multi-disciplinary approach to improve culture alignment. The top management team and middle managers of 30 key teams attended a two-part leadership conference. The first conference established a platform for input, feedback, and clear cultural priorities. After that, the president assigned managers to teams to source outside ideas and develop solutions for specific problems. Teams were then required to present their findings to the group. The goal was to give middle managers more autonomy while improving culture alignment.
Millennial’ perception of leadership training:
Millennial’ perception of leadership training for workers is often mixed. Generally, they perceive their job as a place to grow and learn. Therefore, a good way to increase leadership skills in millennial is through reverse mentoring, which consists of providing them with a role model and an advisor. The opposite is true for baby boomers. Millennial are more interested in gaining practical experience than receiving formal training.