Unknown Facts about Leadership Development Training that You Should Know!

It is very important to understand the trends of the current workplace scenario to stay ahead of your competitors. The more your company adapts itself to newer trends and changing dynamics, the more your company has the potential to succeed! However, with the outbreak of COVID-19, there has been a wide gap between educational qualifications and on-job training. There are not enough candidates with adequate leadership qualities that are required for managerial positions! Here are a few unknown facts about leadership development that you should know to make better decisions regarding your company’s future!

Unknown facts about Leadership Development Trends:

1. In 2019, around 77% of corporations experienced drastic and wide leadership gaps. - It is not an uncommon notion for employees to seek those companies that offer leadership development training as an essential part of their L&D programs. Employees want companies to invest in them and a company that invests in its workforce invests in its success!

From an employer’s perspective, they would also seek candidates that have high leadership skills so that they can eventually become a driving force for the organization rather than having to spend time and money to train employees to develop leadership skills. This constant pull from both ends only accounts for the need for leadership development training.

2. Around 83% of employers state that it is crucial to develop leaders at all position levels - Although, it is alarming to have only 5% of corporations that implement leadership development at all levels and incorporate improvements in their training programs. The employees of today will become the leaders of tomorrow . Most of these companies have gradually shifted their focus towards developing leaders from all levels of the organization rather than focusing only on senior levels of the management. With more and more research about the need for leadership development coming to the forefront, organizations have now realized its value in shaping the future of the industry!

3. Around 63% of Millennials believe that their leadership skills are not being developed.- In a study, it was duly reported that around 18% of organizations state their leaders are “very effective” at meeting business goals but only about 19% of organizations state they are “very effective” at developing leaders which lays out a clear picture as to how much leadership skills must be developed at all levels.

By 2020, 48% of the workforce will be millennials and the workforce will change drastically as millennials will make up 75% of the workforce.

Whereas, other studies state that 71% of Millennials will leave their job within two to three years if their leadership skills are lacking and they feel that there is no room for their professional growth and development.

If they will not be trained to develop leadership skills and become capable leaders, your organization will face a huge lack of professional skills that are required for a managerial or leadership position. If your employees are well trained, their experience with the organization enables them to understand and envision the goals of the company. Combining their experience with leadership skills could make them the best asset for the company.

4. 84% of companies out there believe there would be a drop in the number of available leaders in the next five years.- With boomers retiring early and millennials being employed majorly covering the workforce, companies do have a genuine shortage of capable leaders to work at the senior level position. This makes it very taxing for organizations as they prefer employing experienced and hardworking employees whose work ethic and leadership qualities are proved over time rather than risking the mantle of leadership on a new member.

71% of organizations do not feel their leaders can lead their organization into the future which creates the need for leadership development training modules to be religiously followed!

Hiring new members requires HR costs and time that is spent on training them and it is much better to promote the in-house members than to invest in another member that might as well not stay around for long.

Remote working and flexible hours are increasingly becoming the new order of the business and corporations. The training patterns and leadership development have witnessed a paradigm shift. Leaders in 2020 are looking forward to training a completely new generation of workers adjusting to the new normal.

The necessity of digital leadership skills will increase in 2020, as only 16% of corporations are successful in digital marketing. Social media marketing and digital marketing is the new trend due to large scale and small scale businesses going online.

Leadership development has a greater impact on an organization’s success than cultural innovation does and with the diversity being addressed in the work culture, it is the need of the hour to develop leaders that will lead the organization!