A recent HR Magazine article based on a CMI (Chartered Management Institute) survey of 700 leaders, revealed that a CEO’s #1 challenge is to develop and engage human capital. However, when ranking strategies within this challenge, it was interesting to discover that mid-management leadership development was ranked at #10. As CMI rightly pointed out, this is a significant concern:
” … there is evidence that improving management and leadership can boost levels of business performance by as much as 23%, which could make the difference between survival and failure in tough markets. Failing to see management development as a key strategy to develop and engage employees could be making a costly mistake.” To read the entire article, click here.
We couldn’t agree more. While it is easy for organizations to assume that their leadership is already quite capable, there are a few factors affecting leadership in recent months and years that are potentially not being considered.
A good example is how economic conditions have required leaders to oversee more areas than in the past – often times areas where they’ve had little, if any, experience. In such circumstances, it may be important to provide a development program that specializes in those areas. This is especially true during times when markets are changing. Pricing, marketing techniques, efficient use of resources, technology utilization, and much more are evolving every day into new best-practices. Being aware of this and keeping up within it is not only crucial to your business but also very important to the motivation, development, and productivity of your employees.
Most likely, the CEO’s of these companies are hesitant to invest into full development programs for their leadership due to the associated high costs. Often, a combination of formal training and continuing education through conferences, seminars, professional training, etc. can be very costly – not just in terms of “out of pocket” expenses but also (and possibly even more so) in terms of lost productivity. That is one of the reasons that MMC developed its Leadership Coaching Package. This is a highly effective tool that leaders can use “on-the-job” to develop their abilities while also “increasing” their productivity.
To use a football analogy, you have seen coaches and quarterbacks reviewing photos taken above the field during the game. These photos come from the “press box coach” who is stationed high above the action to evaluate the opposing team’s strategy and identify weaknesses in his own. Feedback from a press box coach helps sideline coaches manage the overall game and address individual players’ performance. Unlike football teams, however, many organizations lack similar systems to track their performance or don’t know how to interpret and act on the data they get from their reporting systems. MMC’s Leadership Coaching Package is designed to fill that gap. We watch the action, study metrics and trends, keep a pulse on operational successes and challenges, and provide weekly insight and advice to the leadership team for sustained and improved performance.
To receive more information about MMC’s Leadership Coaching Package, contact us at 720-233-3227.