Does your company have a low employee retention rate? Do your employees miss deadlines or face delays in projects? Do you find that new ideas are dismissed at your job? If you answered yes to any of these questions, your company could suffer from ineffective management practices.
But have no fear. Making an investment in leadership development training can give your business the competitive edge you need! Here are three ways your organization will benefit from leadership development training:
Lack of growth and advancement opportunities is one of the leading factors employees cite when leaving an organization.
Your employees are less likely to leave your organization.
According to the Society for Human Resource Management (SHRM), employees are less likely to leave a job if they are given opportunities to improve their skills. The more leadership development training opportunities employees have, the more they are not likely to seek opportunities outside of your organization.
Your organization will save money… lots of it!
When an employee leaves an organization, it costs a company 6-9 months of that employee’s salary to replace them — recruiting, onboarding, training, and much more. For an employee making $75,000 per year, you’ll spend between $37,500 and $56,250 to replace them, which adds up fast. Voluntary turnover is estimated to cost U.S. businesses over $1 trillion yearly!
You will drive workplace culture through increased engagement.
Lack of growth and advancement opportunities is one of the leading factors employees cite when leaving an organization. Investing in effective leadership development programs, like ICC’s Accelerator™ program, is one way to create a better workplace culture. Creating a cohort of leaders who progress through leadership development training together builds cohesion, increases engagement, and ultimately makes workplace culture a priority.
When an employee leaves an organization, it costs a company 6-9 months of that employee’s salary to replace them — recruiting, onboarding, training, and much more.
Investing in leadership development is a smart move. Study after study has proven that organizations that take the time to develop their people have better innovation, stronger workplace culture, and overall happier employees.
If you are interested in learning how ICC’s unique Accelerator™ training and development program can help end ineffective management practices at your company, call us today at 855-865-4400 or contact us at email@example.com.
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