Why do leaders matter?
When considering if leadership courses work, it’s worth pondering what would our world look like without effective leadership. From political parties to armies and even sports clubs, very few would be successful were it not for strong, decisive direction, which is why a failure to address leadership issues is costing business dearly.
Leadership research highlights that while 83% agree it’s important to develop leaders of the future, especially with baby boomers retiring at an increasing rate, more than three quarters (77%) believe they face a leadership gap. In contrast, 63% of younger workers say their leadership skills aren’t being nurtured. Each problem exacerbates the other, but ignoring the problem can affect a company’s bottom line.
Investing in leadership course is one solution, and the evidence indicates both individuals and businesses have a lot to gain from formal leadership training.
What are the advantages of management courses for an employee looking to lead in their workplace?
Advantages of leadership training
The advantages of leadership training should be obvious, but despite the growing leadership gap, very few businesses have leadership programs in place at all levels. Good leaders have the skills and ability to transform the workplace, can create stronger cultures, and increase efficiencies by inspiring their employees to work smarter. Initiating constructive weekly feedback will increase employee engagement by almost 50% compared to 18% for workers who don’t hear so frequently from the boss.
A Study of Australian Leadership (SAL) undertaken by Melbourne University found that ‘senior leadership in Australian organisations is dominated by older men from English-speaking backgrounds’. Not that a lack of diversity is a problem unique to Australia. Globally, only 15% of board of director roles are held by women, despite evidence that increased female representation leads to better sales growth and better returns on investment.
Leadership training is critical and must take a ‘whole-of-business’ approach to enhance its’ effects. Great leaders know the importance of communication to improve their negotiation skills and create better conflict management outcomes.
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Five ways your leadership can thrive with a Management Studies course like the Diploma of Leadership & Management
There are essential leadership skills that a Diploma of Management Studies can teach. The business world is crying out for the next generation of leaders, and formal qualifications will be critical to them. Right now, 76% of senior leaders in large, multi-site organisations have a tertiary qualification, compared with 49% of their counterparts in smaller enterprises. The fact is, Australian businesses invest far less than those in the USA, Asia and Europe on leadership development. Therefore, in many ways, taking the initiative by becoming qualified in leadership studies is a smart move.
So what are the five key advantages of leadership courses such as a Diploma of Management Studies?
1. Increase your productivity and the productivity of others.
Learning more about yourself naturally lends itself to self-improvement, and that will rub off on others. Investing in leadership training can result in a doubling of sales, 70% better employee retention rates, and substantial increases in customer satisfaction. All three of those measures improve a company’s bottom line. Success breeds confidence which tends to breed even more success.
2. Create and implement leadership strategies of your own.
Helping shape the leaders of the future is a significant privilege. It’s not just a case of moulding somebody else’s leadership style in your own image, but instead, create a mentoring pathway which leaves behind an important legacy for others. You will never stop learning from those who will eventually succeed you, and along the way, you’ll discover innovative ways of developing and managing people too.
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3. Have an impact far beyond the workplace.
True leaders influence lives, not just jobs. Studies show that employees are nearly four times more likely to have a strong sense of purpose, and seven times more likely to be highly engaged if they are effectively coached, mentored, and listened to. Humans simply crave engagement and thrive on positive feedback. If a business leader can couple these skills while also positively impacting workplace diversity and culture, their influence can improve people’s outlooks, not just a company’s bottom line.
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4. Seek creative ways to engage others.
A great leader never stops learning. They may have a very defined leadership style but will remain open to new ideas of doing business. Listening, as opposed to hearing, becomes critical. Most people retain only 25% of what they hear, so it becomes apparent how essential listening to people is one skill that leaders need to develop over time. Seek to draw on the skills and experience of others who have new ideas and allow space for creativity to flourish.
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5. Become a better influencer, negotiator, and conflict manager.
In many ways, these skills are an amalgam of the others listed above. By becoming more efficient, you influence productivity and workplace culture. Negotiation skills apply in multiple settings, from dealing with contractors to discussions with staff or unions about issues such as enterprise bargaining agreements (EBAs). Learning the process of resolving workplace conflict, again, has many and varied applications and can lead to retaining or losing key team members.
Why a leadership course can work for you
Good leaders inspire us to produce our best work. Truly great ones allow us to challenge our own perceived limitations and strive to do better. Considering that 75% of people leave their jobs because of their boss, and not the work itself, there’s a powerful incentive for businesses to get the right leaders.
A solid foundation upon which to base their knowledge is perhaps the first advantages of leadership courses, and there’s no better way to do that than by getting the right formal qualifications. A Diploma of Leadership and Management (BSB50420) sets you on the right path towards an exciting future in which you can be your best, and help others to do so as well. There are few better ways of ensuring total job satisfaction.