{"id":23524,"date":"2022-06-06T10:23:27","date_gmt":"2022-06-06T08:23:27","guid":{"rendered":"https:\/\/www.getsmarter.com\/blog\/?p=23524"},"modified":"2025-09-26T08:05:47","modified_gmt":"2025-09-26T06:05:47","slug":"the-importance-of-developing-leadership-skills-in-an-ever-changing-workplace","status":"publish","type":"post","link":"https:\/\/www.getsmarter.com\/blog\/the-importance-of-developing-leadership-skills-in-an-ever-changing-workplace\/","title":{"rendered":"The Importance of Developing Leadership Skills in an Ever-Changing Workplace"},"content":{"rendered":"\n\n\n<p>Today\u2019s organizations constantly find themselves trying to keep up with rapid evolution within the workplace, primarily due to Industry 4.0 or the Fourth Industrial Revolution. This fundamental shift is characterized by increasing automation, the rise of smart machines and factories, and the use of data and new technology to manufacture and distribute goods more efficiently and productively.<sup>1<\/sup><\/p>\n<p>Leadership development plays a critical role in adapting to this dynamism, helping leaders to make faster decisions and successfully navigating crises like COVID-19.<sup>2<\/sup> For this reason, it\u2019s a key priority for many corporate HR departments.<sup>3<\/sup><\/p>\n<p>However, in a survey of more than 750 learning and development professionals, almost half the respondents significantly decreased spending on leadership development in 2020, although more organizations offered programs to develop leadership character. Moreover, the same survey showed that there\u2019s been little improvement in the impact of leadership development on critical business goals.<sup>4<\/sup><\/p>\n<p>The infographic below examines 13 problematic leadership development statistics:<\/p>\n\n\n<div>\n            <!-- Responsive picture tag -->\n        <picture class=\"picture-block\">\n            <source media=\"(min-width: 768px)\" srcset=\"https:\/\/www.getsmarter.com\/blog\/wp-content\/uploads\/2022\/06\/getsmarter_blog_desktop-graph1_developing-leadership-skills-in-an-changing-workplace_750px.png\" >\n            <img decoding=\"async\" src=\"https:\/\/www.getsmarter.com\/blog\/wp-content\/uploads\/2022\/06\/getsmarter_blog_mobile-graph1_developing-leadership-skills-in-an-changing-workplace_400px.png\" alt=\"\">\n        <\/picture>\n    <\/div>\n\n\n<h2>The importance of leadership training<\/h2>\n<p>In today\u2019s competitive economy, where human capital is scarcer than financial capital, a business\u2019 competitive advantage lies in its ability to manage and allocate its talent. Good leaders will:<sup>19<\/sup><\/p>\n<ul>\n<li>Define the roles that are critical to creating value for the company moving forward, and then assess the skills, attributes, knowledge, and experience of existing talent<\/li>\n<li>Identify the critical skills needed for multiple potential <a href=\"https:\/\/www.getsmarter.com\/blog\/how-to-respond-to-the-future-of-work-the-importance-of-upskilling\/\" target=\"_blank\" rel=\"noopener\">future contingencies<\/a> to plan skills development accordingly<\/li>\n<li>Adopt new ways of attracting and sourcing talent in line with contemporary technological developments and workforce expectations<sup>20<\/sup><\/li>\n<\/ul>\n<h3>1. Leadership development drives a new leadership structure<\/h3>\n<p>Driven by increasing digitalization, connectivity, automation, lower transaction costs, and demographic shifts, the company structure that\u2019s evolving today resembles a thriving ecosystem rather than the bureaucratic business construction of previous generations. Companies are adopting flatter leadership structures and operating models that enable agility and simplicity.<sup>21<\/sup><\/p>\n<p>In order to succeed, today\u2019s business leaders must understand how and when to delegate effectively. Delegating tasks can empower employees to come up with creative solutions, grow beyond their present positions, and feel more satisfied at work. This also gives leaders the opportunity to focus on developing and growing their businesses.<sup>22<\/sup><\/p>\n<h3>2. Leadership development creates skilled, empowered leaders<\/h3>\n<p>The prevailing logic for supervisor training is to teach managerial skills \u2013 planning, budgeting, reporting, and task assignment \u2013 first, and then leadership skills later. Unfortunately, this often results in new supervisors being ill-equipped for tasks that require real direction, and an overall lack of sufficient organizational leadership.<sup>23<\/sup><\/p>\n<p>Updating the way leaders work to be more in keeping with Industry 4.0 translates into a shift in leadership\u2019s thinking from siloed or \u201chero\u201d leadership, where only one person makes all the decisions and everyone follows, to an approach where colleagues from various functions, departments, and roles work collaboratively. In this context, leaders coach rather than command, and encourage innovation instead of simply overseeing execution.<sup>24<\/sup><\/p>\n\n\n<div>\n            <!-- Responsive picture tag -->\n        <picture class=\"picture-block\">\n            <source media=\"(min-width: 768px)\" srcset=\"https:\/\/www.getsmarter.com\/blog\/wp-content\/uploads\/2019\/02\/getsmarter_blog_desktop-graph2_developing-leadership-skills-in-an-changing-workplace_750px.png\" >\n            <img decoding=\"async\" src=\"https:\/\/www.getsmarter.com\/blog\/wp-content\/uploads\/2019\/02\/getsmarter_blog_mobile-graph2_developing-leadership-skills-in-an-changing-workplace_400px.png\" alt=\"\">\n        <\/picture>\n    <\/div>\n\n\n<h3>3. Improved leadership skills lead to greater innovation<\/h3>\n<p>To bring transformation and innovation to their businesses, successful Industry 4.0 leaders are moving from managing unchanging teams to building diverse, international, and agile ones linked to projects rather than static responsibilities. Here, leadership is less about expecting respect for authority and more about motivating and guiding through influence. These leaders focus on building an environment of trust where people feel confident sharing ideas and taking risks.<sup>25<\/sup><\/p>\n<p>Today\u2019s best leaders also recognize the value of supporting employees in their personal lives. According to a Gartner survey, this sort of support results in 23 and 17 percent more employees reporting improved mental and physical health respectively, leading to a 21 percent rise in the number of high-performing staff.<sup>26<\/sup><\/p>\n<h2>The benefits of leadership development<\/h2>\n<p>Many organizations run leadership development programs to <a href=\"https:\/\/www.getsmarter.com\/blog\/employee-development\/\" target=\"_blank\" rel=\"noopener\">develop employees<\/a> with potential so they can take on senior leadership positions.<sup>27<\/sup> It\u2019s key for companies to design leadership development programs with their specific business objectives in mind, imparting the necessary skills to help achieve these.<sup>28<\/sup><\/p>\n<p>The benefits of establishing a development program to grow leadership skills include:<\/p>\n<h3>Better financial performance<\/h3>\n<p>The development of leadership is immediately evident in several aspects directly affecting the bottom line. Companies can enhance their returns fivefold by developing people capable of improving customer satisfaction, exploring new revenue streams, and reducing costs.<sup>29<\/sup><\/p>\n<h3>Attracting and retaining talent<\/h3>\n<p>Leadership development programs provide a way for employees to grow within a company rather than move elsewhere to fulfill their desires for growth. Prioritizing these programs represent a commitment to developing high-performing employees, giving them a reason to commit their time and career to the organization.<sup>30<\/sup><\/p>\n<p>While investing in leadership development might seem like an extra expense, it has the potential to demonstrate a return on investment of up to six times the program cost. Moreover, it can help improve workplace relationships by 77 percent and employee satisfaction by 51 percent.<sup>31<\/sup><\/p>\n<p>Training provider Lorman found that 70 percent of employees would move to a company that invested in learning and development, while 86 percent of millennials said they would stay with their employer if these programs were offered. A strong culture of learning can also increase employee retention rates by 30 to 50 percent.<sup>32<\/sup><\/p>\n<h3>Improved company culture<\/h3>\n<p>While most business leaders agree that a healthy company culture builds employee engagement, almost half of employees believe their companies\u2019 leadership isn\u2019t committed to improving their culture. One of the consequences of this disconnect is a higher staff turnover.<\/p>\n<p>In order to build successful organizations, today\u2019s leaders need to recognize not just how to create a positive company culture themselves, but also how to empower their staff to do so.<sup>33<\/sup><\/p>\n<h3>Better customer retention<\/h3>\n<p>Leadership\u2019s ability to motivate, mentor, and inspire has a significant impact on the service provided by customer-facing teams as well as the level of perceived value. Companies that focus on developing their leaders and other staff members, particularly in terms of client relationships, can create a customer-centric culture that drives retention and repeat business.<sup>34<\/sup><\/p>\n<h3>Increased agility and ability to adapt to change<\/h3>\n<p>Change is integral to improvement. Therefore, a commitment to transformation should be part of any company\u2019s corporate culture.<sup>35<\/sup> A study found that 86 percent of companies with formal leadership development programs are able to respond rapidly to changing market conditions. In turn, only 52 percent of companies with less mature leadership programs are able to do this. Moreover, 65 percent of companies with mature development programs see improved business results, compared to six percent of businesses that don\u2019t have these programs.<sup>36<\/sup><\/p>\n<p>As Industry 4.0 continues to take center stage in today\u2019s workplace, it\u2019s time for organizations to evaluate how their teams and technology can work together to add value and achieve business goals. Investing in strong leaders through leadership development programs drives innovation and improves financial performance, both of which are vital in navigating the evolving business world of Industry 4.0.<sup>37<\/sup><\/p>\n<p>If you recognize the importance of leadership skills, consider enrolling staff members in the <a href=\"https:\/\/www.getsmarter.com\/products\/oxford-executive-leadership-programme\" target=\"_blank\" rel=\"noopener\">Oxford Executive Leadership Programme<\/a> offered by Sa\u00efd Business School, University of Oxford. This eight-week programme explores core leadership themes, including power and influence, motivation, authenticity and adaptability, change, complexity, and diversity. In addition, it helps participants to reflect critically on their leadership approach through practical insights and tools. Find out what past participants had to say <a href=\"https:\/\/www.getsmarter.com\/blog\/oxford-executive-leadership-programme-student-testimonials\/\" target=\"_blank\" rel=\"noopener\">here<\/a>. Oxford Sa\u00efd also offers various other <a href=\"https:\/\/www.getsmarter.com\/universities\/university-of-oxford\" target=\"_blank\" rel=\"noopener\">online programmes<\/a> that might interest you.<\/p>\n<p>Similarly, the <a href=\"https:\/\/www.getsmarter.com\/products\/udayton-leadership-development-program\" target=\"_blank\" rel=\"noopener\">Leadership Development Program<\/a> from the University of Dayton uses a holistic approach to help leaders become self-aware, confident team players, and organizational influencers. Over the course of eight weeks, participants will develop their people management skills, focusing on practical communication and collaboration, and effective team leadership.<\/p>\n<p>The London School of Economics and Political Science also offers a <a href=\"https:\/\/www.getsmarter.com\/products\/lse-leadership-and-change-online-certificate-course\" target=\"_blank\" rel=\"noopener\">Leadership and Change<\/a> online certificate course, which is designed to equip business leaders with the tools and expertise to survive, grow, and thrive in times of transformation. This eight-week course helps participants to develop their authentic leadership strengths and gain the expertise to create coaching plans that apply widely accepted principles and models for professional development.<\/p>\n<p><strong>Boost your team\u2019s leadership and interpersonal skills with a range of online courses<\/strong><\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.getsmarter.com\/subject-matter\" style=\"background-color:#e51470\" target=\"_blank\" rel=\"noreferrer noopener\">View courses<\/a><\/div>\n<\/div>\n\n\n\n&nbsp;\n\n\n\n<div id=\"accordion\">\n<div class=\"card\">\n<div id=\"headingOne\" class=\"card-header\">\n<h6 class=\"mb-0\"><button class=\"btn\" style=\"background-color: transparent;\" data-toggle=\"collapse\" data-target=\"#sources\" aria-expanded=\"true\" aria-controls=\"sources\"> <strong>Click here to view sources<\/strong> <\/button><\/h6>\n<\/div>\n<div id=\"sources\" class=\"collapse\" aria-labelledby=\"headingOne\" data-parent=\"#accordion\">\n<div class=\"card-body\">\n<ul class=\"mx-0\" style=\"list-style: none;\">\n\n<li class=\"mb-4\"><sup>1<\/sup> (Nd). \u2018What is Industry 4.0?\u2019. Retrieved from <a href=\"https:\/\/www.ibm.com\/topics\/industry-4-0\" target=\"_blank\" rel=\"noopener\"> IBM<\/a>. Accessed December 24, 2021.<\/li>\n\n<li class=\"mb-4\"><sup>2<\/sup> De Smet, A., et al. (Jun, 2020). \u2018Ready, set, go: Reinventing the organization for speed in the post-COVID-19 era\u2019. Retrieved from <a href=\"https:\/\/www.mckinsey.com\/business-functions\/people-and-organizational-performance\/our-insights\/ready-set-go-reinventing-the-organization-for-speed-in-the-post-covid-19-era\" target=\"_blank\" rel=\"noopener\"> McKinsey &amp; Company<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>3<\/sup> (Nd). \u2018How to run an effective leadership development programme\u2019. Retrieved from <a href=\"https:\/\/www.qualtrics.com\/uk\/experience-management\/employee\/leadership-development-program\/\" target=\"_blank\" rel=\"noopener\"> Qualtrics<\/a>.  Accessed December 11, 2021.<\/li>\n\n<li class=\"mb-4\"><sup>4<\/sup> Leimbach, M. (May, 2021). \u20182021 Leadership Development Survey: The times they are a changing\u2026\u2019. Retrieved from <a href=\"https:\/\/trainingmag.com\/annual-leadership-development-survey-the-times-they-are-a-changing\/\" target=\"_blank\" rel=\"noopener\"> Training<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>5<\/sup> Fry, R. (Nov, 2020). \u2018The pace of boomer retirements has accelerated in the past year\u2019. Retrieved from <a href=\"https:\/\/www.pewresearch.org\/fact-tank\/2020\/11\/09\/the-pace-of-boomer-retirements-has-accelerated-in-the-past-year\/\" target=\"_blank\" rel=\"noopener\"> Pew Research Center<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>6<\/sup> (Oct, 2021). \u2018Key statistics about millennials in the workplace\u2019. Retrieved from <a href=\"https:\/\/firstup.io\/blog\/key-statistics-millennials-in-the-workplace\/\" target=\"_blank\" rel=\"noopener\"> Firstup<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>7<\/sup> Meyer, Z. (Nov, 2021). \u201860% of millennials find purpose at work, but many are still looking to quit, survey finds\u2019. Retrieved from <a href=\"https:\/\/www.fastcompany.com\/90697896\/60-of-millennials-find-purpose-at-work-but-many-are-still-looking-to-quit-survey\" target=\"_blank\" rel=\"noopener\"> Fast Company<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>8<\/sup> (Oct, 2021). \u2018Millennials or gen Z: who&#8217;s doing the most job-hopping\u2019. Retrieved from <a href=\"https:\/\/www.careerbuilder.com\/advice\/how-long-should-you-stay-in-a-job\" target=\"_blank\" rel=\"noopener\"> CareerBuilder<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>9<\/sup> Neal, S., et al. (2021). \u2018Global Leadership Forecast 2021\u2019. Retrieved from <a href=\"https:\/\/media.ddiworld.com\/research\/GLF2021-final.pdf\" target=\"_blank\" rel=\"noopener\"> DDI<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>10<\/sup> (Dec, 2021). \u201825 Surprising leadership statistics to take note of (2022)\u2019. Retrieved from <a href=\"https:\/\/www.apollotechnical.com\/leadership-statistics\/\" target=\"_blank\" rel=\"noopener\"> Apollo Technical<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>11<\/sup> Neal, S., et al. (2021). \u2018Global Leadership Forecast 2021\u2019. Retrieved from <a href=\"https:\/\/media.ddiworld.com\/research\/GLF2021-final.pdf\" target=\"_blank\" rel=\"noopener\"> DDI<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>12<\/sup> Neal, S., et al. (2021). \u2018Global Leadership Forecast 2021\u2019. Retrieved from <a href=\"https:\/\/media.ddiworld.com\/research\/GLF2021-final.pdf\" target=\"_blank\" rel=\"noopener\"> DDI<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>13<\/sup> Memari, E. (Mar, 2021). \u2018How a learning management system helps to grow leadership skills\u2019. Retrieved from <a href=\"https:\/\/aboutleaders.com\/how-a-learning-management-system-helps-to-grow-leadership-skills\/\" target=\"_blank\" rel=\"noopener\"> About Leaders<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>14<\/sup> Neal, S., et al. (2021). \u2018Global Leadership Forecast 2021\u2019. Retrieved from <a href=\"https:\/\/media.ddiworld.com\/research\/GLF2021-final.pdf\" target=\"_blank\" rel=\"noopener\"> DDI<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>15<\/sup> Neal, S., et al. (2021). \u2018Global Leadership Forecast 2021\u2019. Retrieved from <a href=\"https:\/\/media.ddiworld.com\/research\/GLF2021-final.pdf\" target=\"_blank\" rel=\"noopener\"> DDI<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>16<\/sup> Neal, S., et al. (2021). \u2018Global Leadership Forecast 2021\u2019. Retrieved from <a href=\"https:\/\/media.ddiworld.com\/research\/GLF2021-final.pdf\" target=\"_blank\" rel=\"noopener\"> DDI<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>17<\/sup> Leimbach, M. (May, 2021). \u20182021 Leadership Development Survey: The times they are a changing\u2026\u2019. Retrieved from <a href=\"https:\/\/trainingmag.com\/annual-leadership-development-survey-the-times-they-are-a-changing\/\" target=\"_blank\" rel=\"noopener\"> Training<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>18<\/sup> (2020). \u2018The Odgers Berndtson Leadership Confidence Index 2020\u2019. Retrieved from <a href=\"https:\/\/www.odgersberndtson.com\/media\/9251\/ob_index_report_eng_digital.pdf\" target=\"_blank\" rel=\"noopener\"> Odgers Berndtson<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>19<\/sup> Field, E., et al. (Aug, 2020). \u2018Three steps to creating more value through talent\u2019. Retrieved from <a href=\"https:\/\/www.mckinsey.com\/business-functions\/people-and-organizational-performance\/our-insights\/the-organization-blog\/three-steps-to-creating-more-value-through-talent\" target=\"_blank\" rel=\"noopener\"> McKinsey &amp; Company<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>20<\/sup> Field, E., et al. (Aug, 2020). \u2018Three steps to creating more value through talent\u2019. Retrieved from <a href=\"https:\/\/www.mckinsey.com\/business-functions\/people-and-organizational-performance\/our-insights\/the-organization-blog\/three-steps-to-creating-more-value-through-talent\" target=\"_blank\" rel=\"noopener\"> McKinsey &amp; Company<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>21<\/sup> De Smet, A., et al. (Jan, 2021). \u2018Organizing for the future: Nine keys to becoming a future-ready company\u2019. Retrieved from <a href=\"https:\/\/www.mckinsey.com\/business-functions\/people-and-organizational-performance\/our-insights\/organizing-for-the-future-nine-keys-to-becoming-a-future-ready-company\" target=\"_blank\" rel=\"noopener\"> McKinsey &amp; Company<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>22<\/sup> (Jan, 2021). \u2018How to delegate work and why it\u2019s important for leaders\u2019. Retrieved from <a href=\"https:\/\/www.ddiworld.com\/blog\/how-to-delegate-work\" target=\"_blank\" rel=\"noopener\"> DDI<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>23<\/sup> Chupp, B. (Nd). \u2018Viewpoint: Management vs leadership\u2019. Retrieved from <a href=\"https:\/\/www.shrm.org\/resourcesandtools\/hr-topics\/organizational-and-employee-development\/pages\/viewpointmanagementvsleadership.aspx\" target=\"_blank\" rel=\"noopener\"> SHRM<\/a>. Accessed December 11, 2021<\/li>\n\n<li class=\"mb-4\"><sup>24<\/sup> Nowakawska, A. (Aug, 2020). \u2018The demise of the \u201cHero Leader\u201d: Six truths about leadership in the digital age\u2019. Retrieved from <a href=\"https:\/\/www.trainingjournal.com\/articles\/features\/demise-%E2%80%98hero-leader%E2%80%99-six-truths-about-leadership-digital-age\" target=\"_blank\" rel=\"noopener\"> Training Journal<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>25<\/sup> Nowakawska, A. (Aug, 2020). \u2018The demise of the \u201cHero Leader\u201d: Six truths about leadership in the digital age\u2019. Retrieved from <a href=\"https:\/\/www.trainingjournal.com\/articles\/features\/demise-%E2%80%98hero-leader%E2%80%99-six-truths-about-leadership-digital-age\" target=\"_blank\" rel=\"noopener\"> Training Journal<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>26<\/sup> Kropp, B. (Jan, 2021). \u20189 Trends that will shape work in 2021 and beyond\u2019. Retrieved from <a href=\"https:\/\/hbr.org\/2021\/01\/9-trends-that-will-shape-work-in-2021-and-beyond\" target=\"_blank\" rel=\"noopener\"> Harvard Business Review<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>27<\/sup> Wooll, M. (Jan, 2021). \u2018What is a leadership development program and why do you need one?\u2019. Retrieved from <a href=\"https:\/\/www.betterup.com\/blog\/what-is-a-leadership-development-program-and-why-do-you-need-one\" target=\"_blank\" rel=\"noopener\"> BetterUp<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>28<\/sup> Lafrance, A. (Apr, 2021). \u2018How to implement a leadership development program: 10 best practices for success\u2019. Retrieved from <a href=\"https:\/\/www.ddiworld.com\/blog\/how-to-implement-a-leadership-development-program\" target=\"_blank\" rel=\"noopener\"> DDI<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>29<\/sup> (Nov, 2020). \u20184 Reasons to invest in leadership development\u2019. Retrieved from <a href=\"https:\/\/www.ccl.org\/articles\/leading-effectively-articles\/why-leadership-development-is-important-4-reasons-to-invest\/\" target=\"_blank\" rel=\"noopener\"> Center for Creative Leadership<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>30<\/sup> Wooll, M. (Jan, 2021). \u2018What is a leadership development program and why do you need one?\u2019. Retrieved from <a href=\"https:\/\/www.betterup.com\/blog\/what-is-a-leadership-development-program-and-why-do-you-need-one\" target=\"_blank\" rel=\"noopener\"> BetterUp<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>31<\/sup> Graves, B. (Sep, 2021). \u2018How to increase employee retention and engagement with leadership training\u2019. Retrieved from <a href=\"https:\/\/www.iqor.com\/blog\/how-to-increase-employee-retention-and-engagement-with-leadership-training\/\" target=\"_blank\" rel=\"noopener\"> iQor<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>32<\/sup> (Sep, 2021).\u201839 Statistics that prove the value of employee training\u2019. Retrieved from <a href=\"https:\/\/www.lorman.com\/blog\/post\/39-statistics-that-prove-the-value-of-employee-training#leadership-training\" target=\"_blank\" rel=\"noopener\"> Lorman<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>33<\/sup> Baumgartner, N. (Apr, 2020). \u2018Build a culture that aligns with people\u2019s values\u2019. Retrieved from <a href=\"https:\/\/hbr.org\/2020\/04\/build-a-culture-that-aligns-with-peoples-values?utm_source=pocket_mylist\" target=\"_blank\" rel=\"noopener\"> Harvard Business Review<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>34<\/sup> (Nov, 2021). \u201815 Unique ways to effectively boost customer retention\u2019. Retrieved from <a href=\"https:\/\/www.forbes.com\/sites\/forbescoachescouncil\/2021\/11\/18\/15-unique-ways-to-effectively-boost-customer-retention\/?sh=16b141321613\" target=\"_blank\" rel=\"noopener\"> Forbes<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>35<\/sup> Hollister, R., et al. (Aug, 2021). \u2018Why every executive should be focusing on culture change now\u2019. Retrieved from <a href=\"https:\/\/sloanreview.mit.edu\/article\/why-every-executive-should-be-focusing-on-culture-change-now\/\" target=\"_blank\" rel=\"noopener\"> MIT Sloan Management Review<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>36<\/sup> (Jun, 2020). \u2018Creating an effective leadership development program\u2019. Retrieved from <a href=\"https:\/\/sprigghr.com\/blog\/coaching-leadership\/creating-an-effective-leadership-development-program\/\" target=\"_blank\" rel=\"noopener\"> SpriggHR<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>37<\/sup> (Nov, 2020). \u20184 Reasons to invest in leadership development\u2019. Retrieved from <a href=\"https:\/\/www.ccl.org\/articles\/leading-effectively-articles\/why-leadership-development-is-important-4-reasons-to-invest\/\" target=\"_blank\" rel=\"noopener\"> Center for Creative Leadership<\/a>. <\/li>\n\n\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Today\u2019s organizations constantly find themselves trying to keep up with rapid evolution within the workplace, primarily due to Industry 4.0 or the Fourth Industrial Revolution. This fundamental shift is characterized by increasing automation, the rise of smart machines and factories, and the use of data and new technology to manufacture and distribute goods more efficiently [&hellip;]<\/p>\n","protected":false},"author":74,"featured_media":40236,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[171],"tags":[122,123],"article-format":[],"class_list":["post-23524","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-employee-development","tag-business-management","tag-talent-management"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The Importance of Developing Leadership Skills | GetSmarter Blog<\/title>\n<meta name=\"description\" content=\"Leadership development is crucial to keeping businesses dynamic and profitable. 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