In today’s fast-paced work environment, many managers are thrust into leadership roles without formal training. Their success, or lack of it, has a tremendous impact on profitability. A recent Gallup survey of more than 1 million employees found that the most prevalent cause for people leaving their jobs is their immediate supervisor and that poorly managed workgroups are an average 50 per cent less productive and 44 per cent less profitable than well-managed groups.
Management development can be used to improve poor management practices and leadership development at any point in the employee lifecycle. By keeping a record of your employees’ talents, skills and preferences, you will be able to help your managers become better managers. Management development will also help you effectively manage, motivate and retain your talent.
With objective, quantifiable data about individual employees, you can make the best possible employee development and training decisions. By identifying employees who need improvement, the areas in which they need further development and the progress they have made toward improving the necessary skills, you can set your organization up for future success.Â Management development works in three parts: