Corporate leadership development programs are excellent ways to identify, mentor, and encourage potential leaders who can take over management roles in the future. Almost all companies now understand the importance of leadership programs to secure their future and grow as a brand.
The following are some of the goals of corporate leadership development programs.
- Improve employee morale and engagement
- Identify future leaders
- Instil leadership skills in all employees
- Build better teams
- Improve the financial performance of the company
- Increase overall skill levels of the company
Ways to Offer Corporate Leadership Programs to Employees
Primarily, there are three ways organizations can offer leadership development programs to their employees.
1. Internal mentoring programs
As the name suggests, these corporate leadership development programs are designed to help employees get internal mentoring opportunities from existing leaders, and this can be extremely effective in building line 2 and line 3 leaders who can lead and guide the company in the future.
Internal mentoring programs prevent the need for talent outsourcing and believe in the idea of nourishing and developing talent in-house. Talent outsourcing, while a great option, adds significantly to the costs of the organization. According to a report by Deloitte, organizations spend nearly $4,000 to find and hire new talent. This number will increase multifold if it comes to hiring leaders. With internal mentoring, this cost can be reduced. If an organization has good talent as their line 1 manager(s) and the time bandwidth to deploy these existing talents for mentoring, then they can save significant financial resources.
2. Third-party leadership development programs
One of the most common ways organizations approach corporate leadership development programs is through third-party services. There are exclusive training providers who come with all the right tools and techniques to approach leadership development right. These service providers take over the job of creating leadership content, training employees, and tracking and analyzing the results of these training sessions.
Though there are several third-party training and development providers, organizations must make an effort to choose the right provider if they want their money’s worth. Such service providers also offer customized corporate leadership development programs that are designed specifically to match the skill needs of leaders in that industry. Such options are more effective in the longer run. While availing of services from a talent outsourcing partner will require additional costs, third-party talent management partners are the best option if there is a need for multi-level, varied and/or customized training modules.
3. Blended leadership development programs
The third and most popular type of corporate leadership development program that organizations are investing in is blended. Blended training programs are a mix of online and offline courses and a mix of internal mentoring sessions, and third-party courses that are strategically designed to improve the efficiency of the program.
Such courses need to be designed carefully for them to be effective. There needs to be the right combination of mentoring, classroom training, online courses, and interactive sessions to make sure the learners are interested in the course plan, engaged in the sessions, and learn from the whole process. Blended leadership development programs can be relatively costlier compared to traditional leadership courses. However, these programs bring exceptional and long-lasting results.
Conclusion
A corporate leadership development program is one of the best investments organizations can make for upskilling their employees. Developing leaders internally is a win-win situation for the workplace and the people in it. The process reduces the need for expensive talent outsourcing and also ensures that the overall quality of the workforce improves for the better. For the employees, these sessions help build vital professional and personal skills to help them grow in their careers.
InfoPro Learning brings corporate executives different types of leadership development programs customized to their needs. These programs can be designed for all employees, starting from the entry level all the way to the C-Suites. Get in touch with us to learn more about our range of leadership programs.
