The Great Resignation. Quiet quitting. Redefining our relationship to work—and the workplace—followed by the stress of economic uncertainty.
It’s been a turbulent two years for businesses, as employees quietly slip away from companies, burn out, or find themselves no longer willing to give it their all.
All of this is why it’s perhaps never been so important to keep your team engaged, learning, and growing. Investing in your people’s development not only builds a motivated workforce but also saves you time, money, and headache in hiring, onboarding, and training.
The business case for leadership development
Building leadership skills can give your business an advantage. When you build internal leadership skills, you increase your organization’s capacity to bring your people together, solve problems, and stay inspired to achieve shared goals. With the right people in the right roles, and aligned with your direction, your business will have an edge in getting where you want to go.
Leadership development also protects your business’s future. This is because the departure of leaders and key employees can be very costly to a business. And despite the tendency of many businesses to look outside their walls for new leaders, research from Harvard Business School reveals the power of succession planning in continuity, morale, and business results. Put simply, building leadership internally and preparing your people to succeed can often put your business on the fast track to better results.
The connection between purpose and leadership development
So, what’s the secret sauce to building leadership and a strong bench? We believe it’s purpose—and research backs us up. McKinsey data indicates that 70% of people say their purpose is defined by their work—and this percentage skews higher for Millennials and Gen Z, the younger generations in today’s workforce (and, incidentally, the future of talent).
Defining purpose and learning to lead with it is crucial to leadership development for several reasons:
- Purpose provides a clear sense of direction. When leaders have a strong sense of purpose, they can inspire and motivate others toward achieving a common goal.
- Purpose helps people lead with authenticity. Purpose-driven leaders have connected to their own values and beliefs, which helps them lead with transparency and integrity. This can build more trust and credibility with their teams, contributing to a strong culture (which in turn has benefits like increased retention and productivity).
- Purpose strengthens employee engagement. Leading with purpose can help employees understand how their individual contributions are connected to bigger goals. This helps individuals feel valued and connected, the foundation of real and lasting employee engagement.
- Purpose increases resilience. Purpose-fueled leaders are more resilient and better able to navigate challenges and setbacks, which are inevitable in business and in life. They are more capable of inspiring their teams to persevere in overcoming difficulties and remaining positive in uncertainty.
Leadership development built on purpose can also appeal to talented, high-potential employees. After the turmoil of the last few years, today’s workforce is increasingly prioritizing finding meaning and purpose in work. When businesses focus on purpose and prioritize it in leadership development, they can appeal to top talent and align their skills and energy with the business’s values and mission. Helping others lead with purpose amplifies unity, commitment, and collaboration across your organization—and that’s the secret sauce for success.
Building Purpose Fueled Leaders
It’s one thing for your organization to survive—to have the basic elements in place to get work done, and to ensure you have a workforce in place. It’s another thing entirely for your organization to truly thrive. Businesses that build leadership capacity and strengthen their employees’ ability to lead with purpose are more prepared to attract, inspire, and retain their people—and they will be more ready to meet the challenges of tomorrow.
Many leaders need help cultivating purpose and building unstoppable teams through leadership development. That’s understandable—because it’s not the focus for many businesses. Effective leadership development for your organization will include:
- Evaluation to understand exactly where your organization is and what it needs
- Equipping leaders with tools and training to build emotional intelligence and leadership skills
- Executing with coaching, programs and more to help your people realize their full potential—and achieve results for your business
Every business needs more leaders. We can help. Purpose-Fueled Leader helps create thriving cultures by equipping leadership teams with tools and training that increase employee engagement, effective communication and emotional intelligence. Learn more at https://www.purposefueledleader.com.
