Development doesn't occur overnight, nor does it happen in a vacuum. It requires a culture of curiosity, accountability and transparency. For development programs to reach their full potential, not only do the participants need to fully engage, but their managers need to actively support their development journey too.
Investing in leadership development is an investment in the future success of the organisation. As over 60% of an organisation’s future roles can be filled by current employees, assuming the presence of adequate programs to support individual development.
And yet, according to Deloitte, less than half of employees believe their company is making a significant investment in their development. This is a missed opportunity for organisations to show they value their people.
Organisations that go beyond mandatory training and genuinely invest in individual growth are more likely to retain high-performing staff. The study further shows that when employees are satisfied with the investment in their development, they feel supported by senior leadership, have a greater connection to their organisation, and can see the future value they can add to the organisation.
To create value, people need to feel valued.
Leadership development involves targeted efforts to enhance the skills, capabilities and knowledge of individuals in leadership roles. While programs vary, many include a selection of formal training, experiential learning, mentoring, and most notably, leadership coaching. The ultimate goal is to develop self-awareness within leaders to improve their core capabilities ranging from communication, influencing, emotional intelligence, feedback, delegation and beyond.
Ultimately, this will help leaders build high performing teams that operate in a psychologically safe environment, make more strategic decisions and drive their organisations forward.
The ripple effect starts when an individual leader focuses on specific development goals, receives expert support to develop new behaviours and begins applying this on the job. There is a knock-on effect to all those who interact with this leader as they are actively focusing on improving their capabilities on clearer communication, improved collaboration, greater empathy and more.
“Multiply this impact across multiple leaders, and the transformative power of coaching spreads through teams, departments, and the entire organisation.”
Organisations that invest in employee development have a 24% higher profit margin, than those that don’t. With increased retention, productivity and engagement, individuals are more likely to be intrinsically motivated to exceed expectations and go the extra mile to deliver strong outcomes. Moreover, they are more likely to be retained in the organisation, reducing the overhead expenditures related to new hiring costs.
83% of Hellomonday participants who receive expert leadership coaching report a boost in performance. As with the support of a coach, leaders focus on core development goals to improve how they motivate those around them, communicate more effectively, influence with impact, champion inclusivity and beyond. By investing in leadership development, organisations ensure leaders develop greater self-awareness to improve their own performance, and importantly, create an environment where others can thrive.
McKinsey research shows that over half of senior and mid-level managers have worked for underperformers, leading 86% of them considering leaving the company. Underperforming leaders have an enormous impact on any organisation’s morale, productivity, performance, and retention. Effective leaders, on the other hand, recognise and nurture talent to create an environment where everyone feels valued and motivated. Leadership development programs focus on equipping leaders with the skills to build stronger relationships with their teams, leading to higher levels of engagement, satisfaction, and performance.
Studies show people in psychologically safe workplaces are more engaged and motivated because they feel their contributions matter. Crucially, they feel heard and can speak up without fear of retribution. Leaders set the tone for organisational culture, and by investing in their development, organisations support their leaders to be the best versions of themselves — admitting their own fallibilities, leading with empathy and setting clear expectations.
The ripple effect of leadership development is profound and far-reaching. By prioritising leadership development, organisations not only enhance their leaders' capabilities but also drive their overall success. Leadership coaching, as a personalised and impactful method of leadership development, plays a paramount role in achieving these outcomes.
By offering tailored development strategies, enhancing self-awareness, and building emotional intelligence, coaching prepares leaders to meet today’s business challenges head-on.
Investing in leadership development isn’t just a strategic choice—it’s essential for any organisation aiming for long-term success. The ripple effect of well-developed leaders touches every corner of the organisation, creating a culture of curiosity, accountability and transparency.
Storytelling can help leaders build a strong organisational culture by reinforcing shared values and beliefs. By sharing stories about the company’s history, successes, and challenges, leaders can create a sense of identity and community that fosters loyalty and commitment among employees.
When an organisation believes in you and invests in your future and your professional development by providing you with leadership coaching, it’s essential that you make the most out of that experience by being prepared.
Building a successful team is a critical aspect of effective leadership, and sometimes that process can involve leading friends or family members. Although this can bring a unique dynamic into the workplace, it can also present challenges that require careful navigation.
