Leadership decides whether a company will succeed. Leaders are the brains behind every operation and are responsible for guiding and mentoring their teams. Because of that, their impact is even more extreme during times of uncertainty. Managers must be equipped with the skills they need to lead. Entire workforces look to higher-ups for guidance. So much so that investing in company leadership ranks amongst the top HR strategies for 2023. 

Organizations already making this investment are familiar with its many rewards. Studies show that highly-skilled managers improve the workplace experience and increase employee engagement. For businesses, this means a happier, more productive workforce, which leads to increased profits. Benefits such as these make implementing this HR strategy worthwhile, especially for companies looking to get ahead in an unpredictable market and unprecedented times. 

Interested in investing in leadership but still determining how? Read our Bryq blog below for 5 ways your company can start investing in its leadership team today. 

1 - Provide educational stipends for continued growth and development of leadership.

Year after year, the state of work changes, and as a result - so do employee needs. Managers who remain informed amidst these changes are usually those most equipped to succeed. Thus, providing educational stipends is one way businesses can invest in executive teams. Enrollment in annual courses is a great way to address individual areas of improvement. While course topics tied to the current state of work ensure that managers possess relevant skills for company needs. 

2 - Shift the culture around what it means to be a leader.

Instead of presenting managers as employee bosses, promote a coach-like relationship between leaders and their teams. While this change may seem small - its cultural impact is profound because workplace coaches often embody a human-centric leadership style. This style of leadership shifts focus off of employees' roles as workers and prioritizes the fact they’re people. Due to this, workplace coaches are valuable to employees. Thanks to their deep investments in their teams. In the end, these human-centric leaders' aren't hyper-focused on quotas, profitability, or micro-managing others. But instead forging interpersonal connections while serving as role models to those they lead. 

3 - Train, then retrain executive teams and leaders.

Every worker should receive proper training upon entering a new role. However, a recent study shows that this is different for those taking on management roles. Nearly 50% of the managers surveyed felt they had never received adequate training. More than half of those who eventually quit stated that they received none. Similar to managers need ongoing leadership training. Recent research shows that nearly 50% of managers report did not receive enough training for success in their roles.  

Now is the perfect time to reassess, reflect, and, if necessary - redirect executive teams. We also recommend inviting external consultations to host expert-led workshops. These workshops can equip attendees with new skills to use in quarters to come. Encourage leaders to conduct performance reviews with their higher-ups and set new KPIs for quarters to come. While learning new skills from external consultants to host expert-led training and workshops. 

4 - Establish an internal mentor program for management.

You probably already have proven leaders in your organization. Why not have them guide other future leaders that demonstrate clear leadership potential? Doing this will encourage a culture of connection and unity by allowing less experienced employees to learn directly from senior leaders. Decision-makers can also arrange for top-performing employees to pair up with those struggling within their roles. 

5 - Hire with leadership in mind.

Studies show that when it comes time to hire for management roles, there are common traits that most good leaders share. These include confidence, assertiveness, trust, and practicality. But how is one supposed to measure these in candidates?

Bryq makes it possible for hiring managers to easily identify candidates who show clear leadership potential. Through Bryq’s “leadership indicator”, companies can easily decipher whether or not a candidate or employee possesses the qualities necessary for strong leadership. How do we do it? Through I-O psychology that’s proven to be accurate and dependable.

To learn more about how Bryq’s talent intelligence can help you find the right leaders for your organization, book a demo with our team here!