The Key to Recruiting and Retaining Top Talent

Leadership Excellence Mentorship

Companies don’t have to look far to find a cost justification for investing in leadership development.  In today’s world, companies spend a fortune recruiting and training employees.  Ideally this investment will pay off in many years of productive service.  Unfortunately, it does not always work out that way.

 

When employees leave a company, it is not only disruptive, it also costs money to replace them.  Studies have concluded the number one reason employees leave is because of their boss.  This can sometimes be a personality (clashing of personalities) problem, but it is also frequently the result of the boss showing poor leadership.

No, I am not talking about the leadership of the CEO, although they can contribute to the problem, I am talking about the leadership of the managers and supervisors who are directly responsible for the development of the majority of a company’s employees.  Most employees never see the CEO, but they interact with their manager on a daily basis.

People look to those that manage them to exhibit 5 key leadership behaviors:

  • Set a personal example they can respect
  • Inspire them with a vision of how they fit into the company’s goals
  • Challenge them to improve
  • Enable them to perform
  • Encourage them by recognizing their accomplishments

Do your managers and supervisors know what leadership traits they are expected to exhibit?  Do they take responsibility for developing the employees that work for them?  How much does it cost when someone leaves unexpectedly?

As for recruiting, it becomes a whole lot easier to attract top talent when your current employees speak highly of the company and the people they work for.

Five Compelling Reasons to Invest in Leadership Development

Leadership Excellence

Companies and individuals have a tough time justifying the cost of leadership development. They find it hard to point to immediate quantifiable benefits.

In most cases, people hesitate to make this investment because they don’t understand leadership. They think leadership is only for the handful of executives at the top.

I have even heard owners of small companies say: “I am the leader, why do we need to train anybody else?” Then they can’t understand why they work 80 or 90 hours a week and never seem to get anywhere. How sad is that?

The fact is, improving leadership skill of everyone in the organization has enormous benefits. The best companies boast about their great leadership at all levels of the organization.

Here are a few of the benefits resulting from leadership development.
1. You are able to attract and retain higher quality people.
2. You experience consistently high morale.
3. You are more productive.
4. You are more innovative.
5. You are more profitable.

Over the next few weeks I will delve into each of these benefits in more detail and explain how leadership impacts each of them.