Take a moment to think about the last leadership development experience you or your team had. How much really changed afterward?
All too often, the answer to that question is “Not much.”
Companies spend a lot on leadership development—more than $80 billion annually. But they’re feeling some doubts about the ROI. Just 15% of L&D professionals rate their organization’s programs as highly effective. And only about a quarter of companies say their leadership development training is valuable and up-to-date.
As someone who’s worked in this space a long time, I hate hearing figures like these, because they represent missed opportunities. I can tell you firsthand that when leadership development training does work, it delivers payoffs in employee engagement, retention, productivity, performance, and well-being.
But amid all the options, how do you choose one that will create real change in your organization? Here are a few things to keep in mind.
Look beyond the surface
When researchers interviewed HR executives about how they select leadership development programs, most said they were influenced by factors that ultimately are superficial, such as a snazzy website or charismatic instructors.
Both of those things are great to have, of course. But they shouldn’t be the main influences on your decision. All the bells and whistles in the world won’t make much of a difference if the program doesn’t address the needs of your organization’s leaders with relevant content that’s delivered effectively.
Expand access to development
For a long time, we’ve thought that the ROI of leadership development depends on choosing the “right” people (high performers and high potentials) to take part. But that thinking is now dated. As companies flatten their hierarchies and worry over the state of their leadership pipelines, it’s clear that we need more leaders, not fewer. And providing leadership development to more of your people can help identify more of those future leaders. Another way to think about this is to consider what an employee has the potential to do—not just what they’ve already done—when deciding who gets leadership development.
Right now, you may think all of this sounds good, but what about your (probably shrinking) training budget? I don’t want to minimize this concern, but I am also heartened by the rapid innovation in L&D technology that can help make leadership development more affordable and scalable.
Bring learning into everyday work
Think about the important lessons that have really stuck with you in your own life. I’m betting you learned those lessons through experiences, not just reading a textbook, listening to a talk, or watching a video. Leadership development works the same way. Choose programs that provide practical experience in using new skills. If you already have a leadership development program, look for ways to integrate the content into employees’ daily experiences. For example, managers and reports could talk about topics from the program in their one-on-ones.
Promoting “growth in the flow of work” is one of the most important things you can do to ensure your leadership development programs make a real impact. Companies that take this approach are four times more likely to be successful innovators and more than five times more likely to engage and retain employees.
Combine learning with connection
One of my favorite ways to magnify the impact of leadership development training is by making learning a group pursuit instead of a solo one. During my experiences facilitating and coaching employee groups, I’ve seen participants feel more accountability around implementing what they are learning.
A group approach can also increase the relevance of training. For example, a newer employee might not know how to apply a lesson from the program in your organization. A more experienced colleague can help that employee understand the connection between what they’re learning and your company’s business goals.
I hope these ideas will take some of the overwhelm out of choosing leadership development programs and help you obtain a stronger return on your investment. As you explore the options, look beyond the surface to find a solution that aligns with your culture, challenges, and goals. Your leaders—and your company’s future—are worth the effort.
This article was originally published by Neena Newberry in Fast Company.