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#77 4 Reasons Why Investing in Your Teams Development Will Make Your Life Easier
The 360 Leadhership Podcast, Episode 77, 14 June 2023 by Lucy Gernon
Want to know the secret to building a high-performing and motivated team?
In episode 47, I emphasised the importance of self-development for your future success. It is vital to assess your strengths and weaknesses, improving your own life and becoming a better, happier person both personally and professionally.
But it is important to also remember that the same goes for your team!
They are not just an extension of you; they are the driving force behind results, company culture, and success. Just as self-development is key for individual growth, investing in your team’s development is crucial for collective progress and achievement.
When you prioritise your team’s development by identifying their strengths and weaknesses, and providing targeted training and growth opportunities, you empower them to reach their full potential. This creates an environment where every team member can thrive.
Today, I want to share four important reasons why it needs to be a top priority.
1. Improved Job Satisfaction and Engagement
By investing in team development, you can boost job satisfaction and skyrocket engagement levels. Studies show that investing in growth leads to a 21% increase in productivity. Your team’s commitment and dedication will soar when they see your genuine care. With highly engaged workforces outperforming peers by 147% in earnings per share, it’s a win-win situation!
2. Increased Productivity and Performance
You will witness a surge in productivity and performance. Companies investing in training see 24% higher profit margins, while employees who receive training are 70% more likely to stay. Engaging, tailored training sessions are the secret to unlocking extraordinary results.
Contact me here to get in touch about how I can create a tailor made training for your team and support you on their growth journey.
3. Better Succession Planning
Prioritise your team’s development to be in the top quartile of financial performance, as revealed by studies. Only 14% of companies have a strong leadership pipeline, but you can change that! Invest in your team, create a robust succession plan, and maintain team morale and culture.
4. Enhanced Innovation and Creativity
Foster a culture of learning and development to ignite innovation and creativity. Companies embracing this culture are 92% more likely to innovate. Training and development opportunities create space for out-of-the-box thinking, leading to increased productivity. Not only that, but 73% of employees say it influences their decision to stay at that company, according to Udemy.
Want to learn more juicy secrets including a surprising statistic on what really makes people stay?
Listen to episode 77 of the Powerhouse Revolution podcast.
Here’s the episode at a glance:
[03:16] The BEST Way To Retain Your Team, EVEN the flight risks
[07:17] How To Avoid the Biggest Mistake Leaders Make in Succession Planning
[10:20] How to Unlock Your Team’s Enhanced Innovation and Creativity
[11:03] The #1 Strategy to Influence Employees’ Decision to Stay Loyal For Years
In last week’s episode, I covered 5 common challenges that your team silently faces. The feedback was incredible, and led to so many new corporate inquiries for events! This is a powerful step investing in your team that will help them excel in their roles leading to better results and overall success.
Spaces are filling up but I still have limited spots for Q3 and Q4, so click here to book me to speak at your event now and my team will respond within 48 hours!