Leadership: Should you hire externally…or promote internally?
Who can you trust to lead?
As your business grows, the need for additional leadership becomes more obvious.
But when it’s time to select a new leader- should you spend your resources hiring? Or should you invest in an employee? Who has better potential to lead? Are they “management material”?
Can a great employee make a great leader? We think they can…with the right training.
Leadership Training is a valuable and overlooked answer when considering your options. Leadership Training can take a seasoned employee and arm them with the additional skills and abilities that will be necessary to lead effectively. According to a recent DDI World report, only 52% of leaders hired externally are successful in their roles, compared to 65% of internally promoted leaders. Is your employee ready for that promotion?
Here are important questions to consider when looking to promote internally:
How do they manage change?
Leaders who can adapt to change with confidence and optimism are in high demand! When change comes their way - can they adapt and see the opportunity? The majority of those who adapt well to change, were more successful at managing virtual teams, a highly sought after skill in today’s job market. In fact, the ability to manage a virtual team has become a key leadership skill in 2021.
Adapting to change is one sign of someone ready to lead, in our virtual world, this includes how they react to digitization of the workplace. Flexibility is hard to teach, but skills to manage virtual teams can be learned.
How do they treat their teammates?
Emotional Intelligence remains an important aspect of leadership. With HR professionals reporting a 20% increase in turnover these last years, a leader must know how to reduce stress, reduce burn-out to help reduce turnover. Key leadership skills that helped teams thrive included delegation, empowerment, how to lead virtually and digital acumen.
While compassion and empathy can be hard to teach, these proven leadership skills can be taught.
What is the company’s attitude towards Diversity, Inclusion & Equality?
Companies that invested in strong Diversity, Inclusion & Equality programs were 9x more likely to have high-quality leadership, and had 48% more leaders ready to fill critical roles. Does that mean that DI&E training automatically makes you a better leader? Not necessarily. However, companies that invest in that training may be more open and understanding of different ways to lead, and, may reduce bias, providing more viable options and potential solutions.
Are they keen to learn & improve?
Most leaders these days are actively seeking outside help, support, and training. They want feedback on how to evolve their influence and better manage their teams. Organizations with strong leadership are more likely to have a solid feedback solution for leaders and employees, which has a big impact on burn-out rates and retention.
You can’t train someone to be motivated, but imagine the impact of leadership training to create Key Performance Indicators and teach effective 1:1s?
Before you hire, consider investing in someone inside your organization. Leadership Training Packages are available from $340.
See our On-Demand Packages for more short-term, task-specific support.