A leadership shortage is one of the biggest barriers to growth at companies around the world. In fact, developing new leaders is the No. 1 talent challenge facing organisations, rating it as ‘urgent’ or ‘important’.
“The most successful companies don’t recruit leaders. They grow their own”.
Skilled leaders are in short supply, with 85 percent of executives not being confident in their leadership pipelines. These challenges are particularly important as older leaders retire at accelerating rates and millennials assume leadership roles. Only 13% of companies say they do an excellent job developing leaders at all levels. According to Forbes, millennials will comprise 75 percent of the workforce by 2025 and millennials are no longer the leaders of tomorrow — they are rapidly becoming the leaders of today. At the same time, employees describe opportunities to develop their own leadership skills as their no. 1 reason for staying with an organisation.
Investing in your talent matters!
We’re experiencing a training gap, not a skills gap. Companies agree that developing leaders is critical, and yet research shows they are doing little about it. Specifically, 61 percent of companies offer no leadership training. No wonder there is a leadership shortage. To sustainably grow, organisations are shifting from viewing leadership development as a “nice to have” to a “need to have”. Leadership development programs are mission critical to organisational success.
The performance of your leaders has a massive impact on your bottom line. Most executives instinctively know that strong leadership is essential for overall organisational success. Statistics show that the average organisation is forfeiting over $1 million per year in untapped potential and lose as much as 50 percent productivity because of less-than-optimal leadership practices. Disengaged employees cost the U.S. economy up to $550 billion a year due to lost productivity.
Creating an organisation that develops quality talent from within is the secret sauce for retaining engaged employees and staying competitive. Employees who don’t believe they can achieve their career goals with a current employer are 12X more likely to consider leaving. With new employees, the number skyrockets to about 30X more likely. The key to retaining your people is providing them with the professional development they need to advance their career. This benefits you as well, as it fills your leadership pipeline with a large pool of strong internal candidates.
For Westbourne, we have invested heavily in the development of the new modes of learning delivery that are now emerging at a pace to fit with new models for content and social learning. At Westbourne the course programme has started to ‘flip the classroom’ with more theoretical principles, models and knowledge delivery delivered online in advance via our Learning Management System (LMS), in preparation for more detailed exploration of context and application to real business problems when in online communities and real-time sessions.
The Westbourne LMS can be isolated to your business community and managed by your own staff or integrated with other like businesses to build relationships. In the broader context, Westbourne’s learning opportunities are now increasingly presented at scale, increasingly embracing better digital practice and increasingly at a low cost at the point of consumption by many global institutions. The benefits of teaching at this scale include dramatically improved access to learning and immense scope for peer–to peer interactions to build knowledge.
Westbourne provides leadership training increasing staff engagement and demonstrates to your employees just how much you value them. All this from just $3 per day. Not only are the costs insignificant, Westbourne bears the risk and costs in investing in your e-learning capabilities allowing you to enjoy the benefit of an engaged work force in a positive organisational learning culture by providing you with your own dedicated virtual campus (LMS) allowing all your employees to engage with each other through the learning journey.
By using the tips from the download guides, you’re that much closer to building a culture that develops and promotes quality leaders. Whether you’re designing a learning development program from scratch, or improving upon a current one, we’re excited to have you join us in building the next generation of leaders. Remember, your leadership is at the heart of organisational growth. They’re worth the investment.
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“Getting ready to return to work whilst still having small kids was frightening, but Westbourne’s flexible on demand training meant I could fit my studies in around my lifestyle”.
Mum of three
“Preparing to leave the mining industry was tough and the uncertainty around my future was concerning, but Westbourne gave me a reputable qualification to get ahead in a secure job and with no loans to pay off and at less than a third of the average price was amazing”.
Average costs $11,900 http://www.myskills.gov.au/courses/details?Code=BSB51915
“I was scared of further studies, especially with the thought of student loans up to $20,000 but Westbourne has such a great reputation and no risk pay as go fees at only $3 a day, the choice was easy”.
“Our company literally saved thousands by using Westbourne. The $3 per day cost was insignificant to the benefits we received. Our staff now feel valued and engaged, reducing our attrition and sick leave whilst raising our production and customer satisfaction. Westbourne even provided our own dedicated virtual campus to use”.
“I wanted an Australian qualification but could not get one without leaving my home and family. Westbourne came to Manila and I attended the two week intensive course before completing my studies on my Ipad. I will definitely continue my studies with Westbourne when I move to Australia”.