Corporate Leadership Training: What You Need To Know
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Corporate leadership training allows an organization to identify current or future leaders in their organization and help to develop their soft skills and hard skills to become refined, resourceful leaders leading high-performing teams.
Corporate Leadership Training can be conducted through a number of modalities, including:
You attract the top talent to your organization, and then what? It may be your job to help keep your employees retained, engaged, and performing at their best. A great way to elevate your workforce is to build a dynamic corporate leadership training program.
In this article, we will cover what corporate leadership training is, popular training topics, why it’s essential, and how you can conduct an engaging program.
What is Corporate Leadership Training?
Corporate leadership training allows an organization to identify current or future leaders in their organization and help to develop their soft skills (accountability, empathy, emotional intelligence, communication, etc.) and hard skills (project management, budgeting, analytical modeling, resource management, etc.) to become refined, resourceful leaders leading high-performing teams.
This type of training can be called many different titles:
- Management Training
- Executive Training
- Leadership Development
There are so many different types of training that a leader/manager/executive could benefit from, but let’s review some of the most in-demand skills to train for:
- Emotional Intelligence
- Change Management
- Communication (written and verbal)
- Managing Conflict/Team Management
- Coaching and Employee Empowerment
- Time and Resource Management
- Budgeting and Accounting
- Business Analytics and Decision Making
- Strategy Development
- Project Management
Why Is Leadership Training Important?
Leadership training is a great tool to recruit and retain highly qualified employees for your organization. When a leadership program is ingrained into your organization’s culture, you can build a leadership team from the ground up with long-term employees.
By curating your leadership team internally, you can avoid the friction from a new hire getting acquainted with the organization, processes, and people. There are more reasons why internal promotion to leadership roles can benefit your organization:
- Higher Organization Morale – 29% of workers cite lack of career opportunities as the key factor that makes them think about leaving.
- More Motivated Employees – When employees see attainable goals, they will strive to do their best.
- Quicker Startup Time – Your new leader already knows the organization, processes, and people, so they are able to jump into projects sooner.
Studies have shown that 88% of workers found praise from managers very or extremely motivating, which suggests that having high-performing, emotionally intelligent managers and leaders can make a substantial impact on organizational culture and retention rates.
In addition to the positive influence on employees, effective leadership training can have a positive impact on your bottom line through:
- Increased productivity
- Increased customer satisfaction
- Increased organizational agility
How To Conduct Corporate Leadership Training
When designing a leadership training program, you have a vast array of options for modalities (modes of communicating the material) and topics. Let’s review some popular ways to conduct leadership training.
With instructor-led training, you get a group of employees together to facilitate discussion, work through activities together, and learn as a team. This gives your employees access to subject matter experts and builds a great team dynamic.
Immersive training leverages technologies such as fully immersive virtual reality, 360º virtual reality, and augmented reality to simulate real-world environments and allow employees to practice their decision making in a safe environment.
eLearning can consist of online modules that the employees can complete on their own schedule and pace, boosting their retention of the information. With eLearning, you can create an engaging program with custom branding, characters, illustrations, and functionality.
At Roundtable Learning, we believe that a blended model of learning is impactful. Blended Learning is a concept that brings together traditional and digital learning techniques to create a fully comprehensive program.
“The increased integration of e-learning and the pervasiveness of AR in corporate leadership training are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio. A learning program that combines traditional and digital learning techniques allows the instructional designer to build a more personalized learning experience that can increase knowledge retention.
Custom-Built or Off-the-Shelf Programs: Which is Best?
With the growing interest in leadership training, there are two routes you can take to develop your program: a custom-built program, or an off-the-shelf solution. Both have their place in the market and solve different problems; as a program builder and provider, you need to decide which solution is right for you.
Custom Built Leadership Training
A custom-built platform is preferred for your leadership training program if you are looking for something unique to an organization’s organization or processes. An organization may want a custom program to have more control over the branding, content, look, and functions of the platform.
While a custom-built program may involve a higher implementation cost, the ROI can be higher due to more functionality, employee retention, and use over time.
Off-The-Shelf Leadership Training
An off-the-shelf platform may be a good option for companies that have to train on common topics, such as team building, management skills, or Microsoft Office. In exchange for lower cost, an off-the-shelf program has limited customization abilities and forces you to stay within the capabilities of the platform.
Are You Ready To Lead The Way?
In this article, we covered what corporate leadership training is, popular topics, why it’s essential, and how you can conduct an engaging program. So now it’s time to decide: Are you ready to invest in your organization’s future?