In today's highly competitive business environment, organisations are constantly seeking ways to attract and retain top talent. People join, stay, and leave organisations for myriad reasons but when trying to attract or retain talent it is obvious, and easy, to think only of remuneration. No surprises there, pay is the most tangible outcome of work.

One often overlooked but highly effective strategy to attract and retain talent is leadership development.

The Bersin by Deloitte report High-Impact Leadership Development reveals that organisations with stronger “leadership maturity” are 11 times more likely to have a high number of leaders who can build talent for competitive advantage. And they’re 7 times more likely to have a high number of leaders who inspire people to follow them.

Better leaders bring a broad range of benefits to an organisation and the people in it.

Enhancing Employee Engagement

Effective leadership development programmes contribute to increased employee engagement by encouraging and empowering leaders to create a positive and inspiring work environment. When employees feel valued and supported they are more likely to be engaged in their work and committed to their job and the organisation. Research shows that high levels of employee engagement correlate with higher retention rates, as engaged people are less likely to seek opportunities elsewhere.

Fostering a Culture of Continuous Learning

Because contemporary leadership focuses on developing people by enabling learning, leadership development cultivates a culture of continuous learning.

When an organisation’s leaders provide the environment, resources and opportunities to develop employee’s capabilities they demonstrates a commitment to continuous improvement for employee’s as well as itself. This growth mindset permeates the organisation, encouraging employees to embrace new challenges. A culture of continuous learning is a particularly attractive trait for younger people in the workforce.

Succession & Internal Mobility

Leaders profoundly impact the people they lead. Good leaders help those they lead to grow. When organisations invest in leadership development they are not only cultivating the capabilities of their current leaders but they are also investing in the people they lead, preparing them for future leadership positions. Internal promotion and succession are powerful drivers of engagement, motivation and talent attraction as well as talent retention.

Effective leadership also recognises that a person gaining more experience in different roles internally is good for the organistion as well as for the person. And if the person is a good performer it is significantly better than losing them from the organisation when they become restless or want to learn more or experience new challenges. Employees, particularly from younger generations, are more likely to stay with an organisation if they have opportunities for internal moves to ‘a new job’.

Building Resilience and Adaptability

Leadership development courses equip leaders with the skills and knowledge to navigate the complexities of an ever-changing business landscape. By fostering resilience and adaptability in their leaders, organizations are better equipped to handle unforeseen challenges and stay ahead of the competition. A workforce that is capable of adapting to change is a valuable asset and a key factor in attracting and retaining top talent.

Enhancing Employee Satisfaction

Employees who see their leaders as role models and mentors are more likely to be satisfied with their jobs and committed to their organization's success. Leadership development courses help create an environment in which leaders are approachable, empathetic, and focused on the well-being of their team members. This, in turn, enhances overall employee satisfaction and contributes to higher retention rates.

Investing in leadership development is a strategic move for organisations looking to attract and retain top talent. By creating a strong employer brand, fostering a culture of continuous learning, and equipping leaders with the skills to inspire and engage their teams, organisations can take a major steps towards ensure they have the talent they need to succeed.

The Ripple Effect

As mentioned above in the context of internal mobility, leaders deeply impact those they lead. A successful leadership course will build and release value well beyond the participants.

The individuals they lead will perform better, the teams they are responsible for will function at higher levels as a team, collaboration with other teams will grow, organisational culture will evolve in positive ways, innovation will increase, and resilience and wellbeing will improve as the effects of the leadership course ripple across the organisation.

And, of Course, a Strong Employment Brand

In very real ways all the above combine to build a strong employment brand. Like any brand, an employment brand is a complex combination of many factors and influences and is perceived a little differently by everyone. What appeals to one candidate, or long-time team-member, will be different to what appeals to another. Like a marketing brand, an employment brand doesn’t need to appeal to everyone, just its target audience … the sort of talented people the organisation needs to thrive.

Learn more about leadership development courses.