Daniel Goleman’s Leadership That Gets Results, a Harvard Business Review three-year study, analysed over 3,000 mid-level managers. Goleman looked at specific leadership styles and behaviours with the aim of understanding their effect on the corporate climate and their company’s profit.
The study determined that a manager’s leadership style was responsible for 30% of the company’s bottom-line profitability.
Obviously other factors such as market conditions, product quality, operational efficiency, competitive landscape etc., also play critical roles in business success. But, what Goleman’s study showcased was the potential, tangible value that good management and leaders can bring to an organisation.
Even without boasting a direct impact on profit, effective leadership and management can yield numerous other gains for an organisation. Proven benefits include improved employee engagement and retention, talent development, enhanced team performance, and a stronger embedding of company culture.
So, why you should invest in your leadership may be very evident, but how to best invest in them – how you can support them to be the leaders your company needs, and your employees deserve – can sometimes be a little less clear.
Through our years of experience delivering leadership training and development programmes across the world, we at Pro-Noctis knows the most effective ways organisations can invest in their leaders’ growth and progress and see a return on that investment:
Mentoring and Coaching: Offering direct mentoring and coaching programmes can truly provide guidance and support to emerging leaders, if done correctly (see the support we offer to coaches and mentors here). One-on-one relationships or focused work coaching allows leaders to receive personalised feedback, advice, and insights from seasoned professionals who can help them navigate challenges and refine their leadership approach.
Leadership Development Courses and Programmes: Implementing formal leadership development programmes that provide training, workshops, seminars, and coaching opportunities can offer incredible value.
As a course provider, of course we would say that. But the reach of an effective course’s impact is often underestimated. Not only can a training course help managers enhance their leadership skills – programmes often cover a wide range of topics as communication, strategic thinking, emotional intelligence, decision-making, and change management – they also enable them to acquire new tools and perspectives.
Continuous Learning Opportunities: In tandem with the above, aiming to foster a culture that supports leadership development and encourages your leaders to be growth-minded is optimul. Create an environment that supports open communication, collaboration, and a focus on learning by providing access to resources such as books, articles, online courses, and industry conferences. By showing your company values and supports ongoing development, your leaders will feel inspired and motivated to in stay updated with the latest trends, best practices, and innovations in their respective fields.
Offer Feedback and Performance Evaluations: Implementing regular performance evaluations and opportunities for different feedback processes should already form a key part of your company’s People Strategy. These mechanisms allow leaders to receive feedback from their team members, peers, and superiors, providing valuable, varied insights into their strengths and areas for improvement. Constructive feedback helps leaders understand their impact on others and identify areas where they can enhance their leadership effectiveness.
Have regular check-ins: Middle managers, in particular, are prone to feeling over-extended just by the nature of their position. Having accessible, reliable support available can be vital to enabling managers to perform consistently. Adopting an individualised approach to these check-ins is also beneficial; decide how often to meet and how to meet that works for each party. Some people may prefer a shorter, ad-hoc slot, and others may need a more predictable schedule.
Prioritising leadership development and growth means organisations set themselves up for long-term success and sustainability. Effective leadership can support a positive work environment, encourage employee growth and engagement, promote collaboration, and align employees with your organisational goals and values. All of this leads to improved productivity, innovation, and all-important customer satisfaction.
For more information about how we can support your leadership and business development, get in touch.