Why Invest in Leadership Development?

There is a reason that businesses strive to recruit the best and the brightest. Because the right talent can make a company, just as surely as the lack of talent can break a company.

That is why every company works diligently to draw in talented candidates, add them to the team, and then pursue avenues of engagement to retain the incredible talent they hired. But far too often, that's where it ends. Despite a belief in the importance of maximizing potential and empowering employees to succeed, few companies move on to invest in leadership development programs.

LeaderStat believes in the power of leadership development and how it can impact the challenging senior care sector. In our current climate of frequent change in the senior living industry, whether as a result of the pandemic, increased mergers and acquisitions, an approaching wave of key leadership retirements, or high turnover rates, it is critical that leadership teams are ready to navigate change effectively.

The most effective leadership development programs are born from customized strategies tailored to a company's unique needs. Each comprehensive program may include such tactics as group team building and individual coaching and development, as well as self-reflective surveys that provide insight into each individual's work style, values, and potential for growth development.

Consider the LeaderStat client, a senior living campus, or a hospital with a tenured team seeking to fill a key leadership position due to a staff member retiring. Upper management decided that due to this significant transition and other changes, the team would benefit from a time of focused leadership development. The objectives were to:

• Ensure an "everyone on the same page" status.

• Assist each team member in understanding his/her unique talents.

• Bring awareness to the gifts possessed by others on the team.

• Blend the insights gleaned in this process to nurture forward progress.

LeaderStat's comprehensive program for the client consisted of:

1. A self-reflective online survey for those in leadership.

2. One-on-one sessions, which included suggestions for actionable team development and discussions regarding emotional acuity and agility, coupled with strategies that addressed how to step out of one's comfort zone.

3. A team session focused on understanding similarities and differences, how those differences impact culture, and tips on navigating change as a team.

4. The CEO and leadership team received recommendations for exercises that would continue the development process.

5. The program included an interactive online portal where participants could connect.
The client was so pleased with the program at the leadership level, the process was repeated with mid-management and a third time with the remaining workforce.

The success of such a program flows from a detailed outline of concrete strategies and action plans based on the organization's goals. The benefits of such a meticulous approach include:

1. Improved engagement among the team.

2. Encouragement toward loyalty, commitment, and buy-in.

3. Improved communication among team members.

4. Increased ability to navigate change effectively and quickly.

5. A positive impact on retention and turnover resulting in a more successful, stable, solid, forward-moving team.

6. Heightened efficiency due to a greater depth of understanding of each other.

LeaderStat challenges those in leadership to a proactive stance. As industry leaders, one must take a critical look inward and ask what our responsibility is in the current alarming turnover rates being seeing. LeaderStat recommends putting in the work to really understand, honor, and develop unique talents and passions among your teams.

LeaderStat understands the intricacies of healthcare. Our commitment to and passion for serving the healthcare industry compels us to invest all the time necessary to customize programs uniquely situated to meet the leadership needs of each of our clients. While our network of consultants stretches across the nation, our approach encourages rich, long-term relationships with our clients.