Why is leadership development so important? The simple answer is ROI. A 10-year study by Accenture showed that companies perceived as having good leadership had 900% growth vs. only 74% growth (over the same time period) for those lacking in leadership. In its Top 40 “Best Companies for Leaders,” Chief Executive Magazine ranks companies based on their leadership development programs, commitment to leadership development, and shareholder value performance (among other factors). Among this best-of-the-best group, the top 15% of companies saw market capitalization growth rates that were 33% better than the bottom 15% in 2013, and all of the top 40 saw growth rates above 50%.
Not only can ROI be improved with formal leadership training, but productivity rates can also be increased. Forbes Magazine points to a study by Development Dimension (DDI) and HR.com, which showed exactly how costly poor leadership can be. Of those surveyed, 65% said weak leadership caused a loss of productivity, 59% said it resulted in higher turnover rates, and one in four stated that poor leadership had resulted in lower profitability for their organizations.
How is CCWA poised to provide solutions?
We have programs designed to help develop talent at all levels and our Frontline Leadership program is customizable to fit the leadership development needs of your organization, whatever the size.