A recent survey outlined that 49% of organizations carry out leadership development for the sole purpose of training & developing new and existing leaders. Also, 52% of leaders from Small and Medium Enterprises (SMEs) partake in leadership development planning & execution. A significant reason here is due to large organizations having specialized Learning and Development (L&D) teams to carry out leadership development, which is not the case for most SMEs. 79% of SMEs do not have an internal L&D team either, which is why leaders should be more involved in the L&D processes.
For leaders with experience of driving businesses, examining their styles of management and gauging how effective it is within the organization, is need of the hour. Hence, in-depth training interventions are required that enable them to comprehend the intricacies involved with leading a team in a manner that enhances output while remaining motivated, retentive, and productive with minimum conflict. Additionally, when the leaders register for learning and development initiatives, they lead by setting an example for the rest of the organization, that learning is a lifelong process.
However, it is the development of personal attributes that prove to be more challenging – which are necessary for effective leadership. One such essential but straightforward skill that leaders from all walks of life must inculcate is being open to criticism or feedback. A standard but the most ineffective method for leaders to follow is giving feedback in the form of annual performance reviews. Utilizing methods with better success rates such as training provides the opportunity to create and implement individual developmental plans, and structured all-around evaluations – which create a channel to give/receive honest feedback. With constant feedback and progressive corrections, leadership coaching from an experienced person who has led an organization brings a permanent change in behaviour & core leadership skills.