Organizations have spent nearly $160 billion on training and education. Yet:
- 58% of workforce members haven’t received leadership training.
- 77% feel there is a leadership gap at their company.
- 63% of millennials (the largest generation in the U.S. workforce) express that their leadership skills are not fully developed.
There is a lack of leadership, and this situation needs to change. Leaders can get started by reading leadership insights in this quick guide. Learn why leadership skills are important in the workplace in order to identify your own areas for improvement and help nurture your organization’s next generation of leaders.
What Are Leadership Skills?
Leadership skills are skills that professionals employ when helping others achieve a shared purpose and goal.
Rather than a single skill, business leaders generally utilize multiple skills collectively to support their teams. Having various skills allows leaders to adapt their leadership approach to the current situation or challenge. Effective leaders can also select and customize the skills according to their team members’ learning or communication styles. A broad set of various leadership skills allows the leader to effectively achieve their targets or goals.
Examples of Leadership Skills in the Workplace
Good leaders take the time and initiative to communicate with their teams, motivate them, and receive feedback. They possess the agility to find solutions in an ever-changing market.
Achieving this may involve practicing:
- Effective and constructive feedback
- Innovative and strategic thinking
- Change management
- Emotional intelligence
Importance of Leadership Skills
There are five reasons adapting various leadership skills can benefit businesses.
1. Better Performance
Leadership development helps both companies and individuals:
Companies see a 25 percent improvement in organizational results.
Individuals enjoy a 20 percent increase in job performance.
Leadership skills enable workforce members to develop a vision, direction, and realistic goals. These skills empower team members to fulfill their potential, boosting the efficiency of the organization’s performance. Through coaching, one-on-one discussions, and feedback, leaders can motivate teams collectively toward shared goals.
2. Better Business Agility
When leaders are equipped with the right expertise and tools to lead others through business transitions, they help boost organizational agility. Studies show that leaders who act quickly are twice as likely to achieve positive change.
Learn about the four essential change-management leadership skills.
3. Better Relationships
Leaders who possess impactful leadership skills such as emotional intelligence (EQ) illustrate better:
- Social awareness
- Relationship management
These factors can nurture better team communication and relationships. Learn strategies on how to develop EQ in your workplace.
4. Reduced Burnout
Eighty-six percent of high-potential professionals feel burnout.
By leveraging the right leadership skills such as empathy, delegation, and listening to their team members, leaders can help mitigate this burnout and enhance overall wellbeing in the workplace. Moreover, by fostering these leadership skills among workforce members, employees can be well on their way to becoming the company’s future leaders.
5. Improved Retention
According to isolved’s chief people officer Amy Mosher, “When executive leadership fosters a culture of growth, they also foster a culture of retention.”
By “growth,” staff members report that they are interested in learning leadership, communication, and teamwork skills. Encouraging leadership skills is key to rewarding growth and creating a workplace where staff members want to progress.
Improve Your Leadership Skills with CMOE
At CMOE, we have a portfolio of leadership development workshops and training solutions to help business leaders spearhead challenges and fulfill their responsibilities. Our team tailors each workshop depending on the needs and expectations of your team. Reach out to us to learn more about bolstering your leadership skills.