Leadership Development Is A $366 Billion Industry.
Yet, most programs are ineffective. Why?
According to Forbes, it comes down to four key reasons:
- Most training programs have a "one size fits all" mentality.
- A lack of practical application and hands-on learning.
- Low rate of acceptability from trainees.
- Not measuring training success or ROI.
So with that being said, if your organization aims to foster growth and develop an effective leader, what steps should you take? How will you make sure leadership training online will be engaging so leaders will be willing to participate, and how will you make sure you can measure ROI, so you don't waste a cent on pointless training investments?
Let's jump right in!
What's in this post?
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What is leadership training?
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How important is leadership training?
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What exactly is leadership training online?
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Is leadership training online effective?
- How can you train leadership online?
What is leadership training?
Leadership training is a process that focuses on the development of the skills and knowledge that are essential to effective leadership.
It is designed to help individuals acquire the knowledge and skills needed to become successful leaders, by providing them with the tools and strategies to understand better the complexities of leading in a corporate or other professional setting.
What are some key leadership skills?
- Communication (listening to employees actively, articulating thoughts, providing constructive feedback, and clarity in guidance).
- Employee engagement (engaging with employees and fostering a motivating work culture).
- Problem-solving (identifying underlying issues, evaluating solutions).
- People management skills (motivating and inspiring team members, fostering a positive working environment, conflict resolution)
- Personal development (setting personal goals, resilience).
- Decision-making (evaluating risks and opportunities)
- Business acumen (financial literacy and market awareness)
By implementing a well-developed training platform, trainees have the possibility to gain a deeper understanding of their leadership role, build self-reflection capabilities, and the necessary skills to be successful.
How important is leadership training?
Leadership training is vitally important for first-time managers as well as experienced leaders.
Study results show that participants undergoing leadership development improved their learning capacity by 25% and their performance by 20%.
Through leadership development, these individuals gain the knowledge and practical skills they need to lead effectively and inspire their teams and succeed in their leadership roles.
This in turn has a ripple effect throughout the organization, creating an environment of trust, respect, and collaboration. Leaders who are well-trained in the fundamentals of leadership are better prepared to make informed decisions and take effective action, leading to positive business outcomes.
Strong leaders also understand how to motivate their teams and maximize their potential. Ultimately, successful leadership development can have a positive impact on the entire organization, as it leads to increased productivity and morale.
Click here to find out what the 8 benefits of leadership training are in 2023!
What exactly is leadership training online?
In response to the tide of competition in today's volatile business environment, organizations are in pursuit of new and innovative ways to upskill their most important asset - their talent. The onset of the pandemic ingrained this pursuit and ultimately propelled the shift toward remote models of training and developing employees.
The probability is high that your company has also been impacted, or, like 64% of companies, remote work is the new norm for you. This shift to digital platforms has not only ensured the uninterrupted progress of learning and development initiatives but has also adapted to the new normal of remote work, thereby redefining the landscape of leadership development.
Online leadership development programs today are a crucial method, offering an effective solution for cultivating leadership skills at a global, and remote, scale.
So, what are some leadership training examples that work at a global -- and remote -- scale?
Here you can check out Retorio's immersive role-plays, and have your leaders build self-reflection capabilities.
E-learning platforms:
E-learning courses represent the digital crossroad of education and technology, where knowledge is available conveniently, and efficiently to learners across the globe.
Coursera, Udemy, and LinkedIn Learning all offer an extensive array of courses, perfect for experienced and new leaders to become aware of key skills for their management role.
However, these courses are not without their shortcomings.
One major concern is the lack of interactivity and personalized feedback, as these courses often rely heavily on pre-recorded content and automated assessments, which may not fully cater to the specific needs and learning styles of great leaders. This could potentially impede the learner's engagement, satisfaction, and ultimately, their learning outcomes.
AI training platforms:
AI training programs represent the next evolution of digital learning, and leadership and management are no exception. AI-driven platforms use advanced algorithms to better understand each individual learner and tailor their content accordingly.
Through the incorporation of automated assessments, personalized feedback, and real-time coaching sessions, these platforms provide learners with highly engaging and interactive experiences, enabling them to gain a deeper understanding of the subject matter more quickly.
| E-learning platforms | AI-powered platforms |
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Is leadership training online effective?
Online leadership training's effectiveness is determined by several critical factors. What factors make leadership training that is online, effective, and engaging for trainees?
- Incorporating role-play scenarios
Does your leadership development program include role-play scenarios? This serves as a great tool in leadership development, fusing theoretical knowledge and practical application, and facilitating the honing of soft skills such as negotiation, communication, and empathy.
- Tailoring employee development
Every learner has their own quirks, style, and learning strategies. By creating personalized learning journeys for each trainee, specific learning needs will be addressed, targeting his or her strengths and weaknesses and essentially allowing them to engage with the content that aligns with their personal learning styles.
- Individualized feedback
Does your online platform offer tailored coaching and instant feedback opportunities for learners? Similar to the previous point, when feedback is individualized to that learner, the trainee is more likely to engage with the feedback and be motivated to take it into consideration. This can strengthen the application of learned concepts in a real-world context, reinforcing the transference of theoretical knowledge to practical execution.
- ROI calculation
Is your organization investing in leadership development courses or management training, but not sure what their training ROI is?
In the current fiscal climate, where every dollar is accounted for, it's imperative for Learning and Development managers to establish their training return on investment, ensuring that each dollar invested in cultivating leadership skills is not merely an expenditure, but a strategic maneuver that yields tangible dividends in enhanced productivity and organizational growth.
How can you train leadership online?
AI is transforming the landscape of organizational learning and development initiatives globally.
By enabling the customization of learning content to individual needs, fostering real-time performance feedback, and facilitating predictive analysis of future learning paths, AI delivers a highly personalized and engaging learning experience.
This innovative technology also provides robust analytics that supports informed decision-making, ultimately driving progress toward the realization of both individual and organizational learning objectives.
Retorio's leadership training platform encompasses just this.
Powered by AI-driven algorithms, Retorio offers a comprehensive suite of training and development features. From the advanced video analytical tools to the personalized learning paths and leadership assessments, Retorio is an all-in-one platform for developing managerial and executive competencies.
☝️With Retorio, trainees simply record videos of themselves giving presentations or solving problems they'd likely face in real-life (for instance, a difficult performance review talk with an employee who has been underperforming), and Retorio's AI-driven algorithms analyze the footage to identify specific areas of improvement.
The leader can then view the personalized audio and video feedback from Retorio's executive coaches to see how they can improve their performance.
This powerful combination of advanced technology and human input ensures that every trainee receives tailored coaching and development support - no matter their location or industry.
One common trait among influential leaders who stand out from the rest and mold their businesses with their unique personalities is their ability to inspire others to achieve success.
Therefore, it is crucial for every business to possess competent leaders who can establish objectives, gain employee commitment and guide the organization toward long-term success.
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