Companies with leadership training and development programs enjoy a 218% more profit inflow

 

According to the Association for Talent Development, organizations that provide holistic training and development programs enjoy a 218% more profit inflow per worker than organizations without a formalized training and development program. However, this never stops there. All these organizations also take pleasure in a 24% higher profit margin than those who spend little or none on leadership training. It now seems that continuing to invest in leadership training and development programs, even when there are economic falls, is always the smart play. 

 

Leadership training and development programs increase employee productivity, which in turn is driven by the skills development made possible. As every piece of evidence points out, leadership training and development is one of the essentials that an organization should incorporate into its system to improve productivity. 

 

For instance, a study by the National Center on the Educational Quality of the Workforce has revealed that growth in workforce learning levels was far more effective at boosting productivity than improvements in the value of mere industry equipment. 

 

Here are a few statistics on leadership training and development program and what it means for your organization's future:

 

• Employee retention - It's vital for employers to realize that when an employee doesn't receive proper training and timely education while on the job, the likelihood of them quitting and seeking other opportunities that ensure workplace learning and training increases. Hence, when your company provides leadership training and development programs, you increase your employee retention rate.
  
  
• Employee engagement - Simply put, employee engagement happens to be the emotional commitment and accountability that employees feel towards their work, the organization they work for, and the organization's objectives. It is not necessarily synonymous with happiness or satisfaction from their job. To be wholly engaged with the job, your employees have to work productively on behalf of the organization while caring about the results and outcomes for the organization. 

On the other hand, training and development programs assure them of career growth opportunities and also motivate them to keep doing the smart and hard work to be better at their jobs.