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OPINION
Taking the lead
I n today’s dynamic business landscape, strategic investment in leadership development is crucial for accelerating business goals, increasing profitability, and improving recruitment and retention. Research consistently supports the benefits of nurturing leadership within an organization. Strategic investment in leadership development is crucial for accelerating business goals, increasing profitability, and improving recruitment and retention.
Lynn Bruns, PE
According to the Center for Creative Leadership, companies with robust leadership programs respond better to business changes, with 86 percent of such companies navigating change successfully compared to 52 percent of those with less mature programs. Leadership development is a magnet for high performers, boosting employee retention by up to 20 times, particularly among millennials and Gen Z, who value personal growth and career progression. Essential skills like critical thinking, problem solving, active listening, and accepting feedback improve professional performance, making individuals more self-aware, resilient, and adaptable. COMBATING THE CHAOS CURVE. Every organization faces the “chaos curve,” which is the discrepancy between true leaders and simple headcounts.
This chaos can derail momentum and halt growth, creating inefficiencies and frustrations. To combat this chaos, companies can focus resources into the right areas, such as:
Culture and talent management. Hire, fire, and promote the right people, and address underperformance swiftly to maintain a healthy culture. Leadership opportunities. Ensure a robust pipeline of leaders ready to step into roles. Increase the number of employees who “get it” and align with the company’s vision.
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■ Professional development. Invest in professional development to improve the client experience and project delivery and enhance the employee experience, recruitment, and retention efforts.
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THE ZWEIG LETTER OCTOBER 28, 2024, ISSUE 1559
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