Why more companies should invest in leadership training
A rise in profits. A drop in risk aversion. Happier employees. CEO Tom Vincent explains why you shouldn't underestimate the value of external leadership support.
Tom Vincent, CEO of 20/20 Business Insight Limited, talks about why it’s worth investing in leadership training for your business.
"20/20 Business Insight Limited is an employee-owned project management training business based in Aberdeen.
"We became employee owned in 2018 and implemented a succession plan to make sure we transitioned smoothly from the founders to a new senior leadership team.
"Our work with the Scottish Enterprise Workplace Innovation team started specifically because the hierarchy of our business had changed significantly. We felt that the new senior leadership team lacked relevant experience in some important areas.
"The need for external expertise was obvious. The support from Scottish Enterprise to fund a support programme with McCormick Consultants helped us build the foundations for significant business growth."
Five benefits of leadership training
1. It stirs ambition
"Leadership training has been instrumental to 20/20's strategic growth over the past few years.
"Five members of our senior leadership team took part in the Leading with Change programme. Three middle managers also took part in Scottish Enterprise's Managing People for Growth programme, which helped them step up into more significant leadership roles.
"The outcomes have been transformative. The leadership team has grown in their ability to lead change effectively, and people managers now have clearer pathways for development. This has contributed a lot to the positive culture within our business."
2. It drives accountability, values, and wellbeing
"The programmes have led to a complete restructuring of our organisation. They have helped us redefine role profiles so that every position is connected to our strategic goals.
"We've also revisited and updated our company values so they reflect the behaviours that are important to our team, and so they capture the essence of being a 20/20 employee.
"Through these efforts, we've introduced more structure and governance, particularly in staff appraisals, training, and development.
"Another important element of our transformation has been setting up a social value strategy, with wellbeing champions that play a key role in driving the strategy forward."
Tom and some of his team on a charity walk for Shelter Scotland
3. It makes it easier to take risks
"Our leadership training and involvement with the Workplace Innovation team at Scottish Enterprise has also prompted us to commit to a comprehensive review of our operations.
"This has resulted in significant changes, including:
- Changing accountants
- Achieving Cyber Essentials Plus certification
- Partnering with the National Skills Academy Nuclear (NSAN) to improve our strategic growth"
4. It can encourage a fresh approach to strategy
"External consultants can bring impartial perspectives and challenge your assumptions. This is great for growing and improving your business.
"It’s essential to set aside regular time with your senior leadership team to plan, prioritise, and maintain accountability. It’s also critical for the long-term growth and prosperity of your business to work on business fundamentals such as tailored governance, well-defined roles, and clear values.
"We’ve enhanced our productivity, not only by restructuring our organisation and clearly defining role profiles, but also by implementing robust governance systems around staff appraisals, training, and development.
"These elements were identified as important to staff through the external Good Work Survey, so the senior leadership team listened and applied changes.
"Small, incremental improvements, when sustained over time, can lead to significant progress for your business and provide a strong foundation for the future."
5. It reaches every layer of your business
"Scottish Enterprise support has allowed us to build a strong foundation of solid business fundamentals. This has improved our leadership effectiveness and helped us ensure we have a more engaged and empowered workforce.
"This holistic growth has set us on a path for continued success and positive impact within our industry.
"My advice? Don't underestimate the value of external support – it can be crucial for driving initiatives, connections, and funding."
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