A CareerBuilder survey has reported that 58% of leaders haven’t received any leadership training. We also know that leaders are usually promoted based off of their technical skillset, then not given the tools for the people management component.
A recent global leadership report from DDI reported that HR rated only 28% of leadership as “high quality.” For comparison, this data point was at 25% in 2011 so the needle has barely moved in 10 years.
Why are we okay with this magnitude of undeveloped leaders? The benefits of high-quality leadership are staggering: increased productivity, retain talent (lower turnover costs), attract high-quality talent, nurture future leaders, increased employee engagement, increased financial performance, improved decision-making and innovation, higher competitive advantage, increased agility to evolve and adapt.
DDI also reveals in their 2021 global leadership report that the top problems plaguing executives are: developing the next generation of leaders, global recession, attracting and retaining top talent, and driving new product innovation. Three of these things are in the control of organizations; developing leadership can impact these three items significantly.
My decades-long experience in the financial services industry showed me firsthand that leaders only focused on the task management aspect of the equation. The people management aspect was overlooked almost entirely. Since most leaders aren’t trained in leadership, this isn’t surprising. Task management is where undeveloped leaders feel most comfortable.
Unfortunately, what we’ve really needed during the pandemic and post-pandemic, has been the people management aspect. This is why the pandemic has showcased and amplified the level of undeveloped leadership that currently exists and it’s a solid reason why employees are now looking to jump ship.
(1) Be intentional so that you don’t ignore the people management side. Do what you have to do to remind yourself to not overlook this.
(2) Talk to your employees often. This can happen in whatever form is preferable for both parties (call, messages, etc.) This needs to be genuine communication with genuine intent – not doing it to check a box off of your to-do list. Talk to them about more than their work tasks. Show you care about them as people. I was reading an article that said as a leader, it’s a sign of a poor leadership strategy if you don’t have at least 3 completely non-work related conversations with a team member weekly. That helps put it into perspective.
(3) Figure out your own insecurities and discomfort around leading people and then brainstorm solutions. Maybe it’s hiring a coach, maybe it’s your own self-development plan where you read leadership books, maybe you request to go to formal leadership training, maybe you join a mastermind group or find a mentor. Leadership development and learning is ongoing so always be intentional about it.
