January 22, 2016
Heartfelt Leaders know that there’s no better investment than the investment in their team.
Not only does this have a positive effect on the individual team member and the whole team but most importantly it has a huge impact on society at large. Because every person who will be positively touched by a team member due to their investment into themselves, will pass this experience on. This is how humankind evolves.
No other resource comes even close to the leverage effect of manpower.
But when it comes to invest in people, most companies pay only for skill or business development. What they totally miss, is the fact, that most people, even on the most basic work level, are overstudied and undertrained.
What does that mean?
In most companies managers believe that it’s what their people know that will make the difference. Unfortunately this is not true. Only what you can apply makes a difference and shows at the bottom line. Therefore it is most important to invest also in personal development.
Unlocking untapped potential in people is the greatest business booster of all time.
For example, training people to overcome their fears of making cold calls, or saying “no” if it is the right thing to do, or taking responsibility when no one else is there. Only if you create a learning environment which stimulates personal growth, you can tap into the greatness of your people.
What people are waiting for
A study done by University of Vermont’s Center for Leadership and Innovation unveils that most employees are seeking training that goes beyond their narrow job description. Among the areas of training, the most requested by employees and employers are:
- Leadership development
- Communication and negotiation
Why to invest in your team
The actual leadership crisis we see on a global basis and in all areas of life, will get even more serious with changing demographics. By 2020 around 40% of the workforce will be comprised by Millennials. Many Millennials believe they lack the leadership skills needed to be successful in their jobs. This major concern is backed by a study done by the American Society for Training and Development (ASTD).
Today, everyone is being asked to “do more with less”. In a time when budgets are tight and time to return on investment is rather long, the best way is to invest in the most powerful renewable and inexhaustible energy – your team. There’s so much you can do for your team, e.g. through empowerment, feedback, goal-setting, and a solution-oriented leadership. This not only produces a higher level of buy-in with your team that will result in a higher level of productivity, increased innovation, and better retention, but also happier people with greater commitment. These are things that are critical to succeeding in these demanding times.
A team is not a group of people that works together. A team is a group of people that trusts each other.
Why you need a code of honor
Today`s world is more demanding than it ever has been, acceleration is omnipresent and therefore one thing is critical: You have to be able to learn from your mistakes quickly. Under pressure people have the tendency to drop out or pass the responsibility to someone else right before the bomb explodes. As much as you try to avoid such things as a leader, it’s better to learn how to cope with it.
You have to learn how you come back with your team after a major setback. The ability to to this is a key differentiator between a normal and a championship team. Many great championships in sport have been won after a major shortfall. There are teams who can access a source of power which is only available to them in the most difficult times. And the reason why they can do this is their Code of Honor. The Code is a set of rules which defines what the team does under all circumstances (e.g. finish what they start), what the team does under no circumstances (e.g. give up) and how the team treats members of the team who have difficulties to follow these rules.