4 Ways Leadership Development Boosts Your Bottom Line

Taking your employees away from their desks for an entire workday sounds counterproductive, right? Most executives think that a day away only results in disruptions and a delay in workflow, which yields decreased output.

But what if the day your team spent away from their cubicles resulted in game-changing conversations, inspiration and tips for growth that led to a positive shift and significant growth for your company?

Leadercast experiences deliver easy to use original content from renowned speakers that provide tangible results to businesses.  

Increase employee engagement

Instead of a slowdown, this day could increase employee engagement drastically, which would ultimately shift your bottom line upward. The more engaged employees are, the more productive and efficient they will be. Gallup’s most recent “State of the American Workplace Report” reveals what a difference it makes to your profit when your employees are truly engaged. 

Similarly, productivity is 17% higher and sales are 20% higher for the companies with the more engaged staff.

Boost retention

Besides driving employee engagement, prioritizing leadership development can increase morale and employee satisfaction. This creates loyalty, which slows turnover and improves office culture.

Businesses with highly engaged employees achieve 50% less turnover than those where employees are not very engaged (Gallup).

If you set time apart to invest in your employees’ leadership development, it’s likely that their respect and appreciation for the workplace will grow. They will feel valued and see that you want to help them hone their leadership and soft skills, making them more likely to stick around for more opportunities and feel loyal to the company. It’s a win-win.

Cultivate and nurture talented employees

As a leader, one of your roles is to help develop your existing workforce, making them more well-rounded and better-suited for leadership roles.Promoting from within can be very advantageous, so empowering your current employees to become better leaders can prepare them for the next steps in their careers. Developing your internal talent cuts down on training time and lessens the learning curve. It also allows you to avoid spending money on advertising, recruiters, moving expenses, signing bonuses, or any of the other line items involved in making a new hire. You never know what potential potential is sitting in your organization right now. 

Attract better talent

With social media and websites like Glassdoor, it’s hard for poorly-led businesses to hide. But the flip side is that word gets out about incredible workplaces, too. If you’re investing in leadership development and giving employees opportunities to grow, others will hear about it. Almost half of the employees surveyed in 2020 said that they did not feel a sense of belonging at work and were not inspired at work. (Human Relations Research Institute). By providing opportunities for inspiration and growth through leadership development, you will make your business more competitive and attractive for new talent.

The bottom line?

Leadership development experiences are catalysts for employee growth, motivation, and excitement. And the more effective the leader is, the more effective the company will be in the marketplace. Leadercast is an impactful leadership development experience you can offer your team that requires minimal effort on your part but yields a strong ROI.  Each Leadercast host site is fully supported with customizable content, reliable technology and the facilitation materials you need apply what they see and learn. 

Our mission is to help create leaders worth following.  Are you ready to become the leader you want to be?   Inquire today. 

Share

Share on facebook
Share on twitter
Share on linkedin

More Articles