“Management is doing things right; leadership is doing the right things.” – Peter Drucker
Training like this is best done with an ongoing Management Development (MD) program. This is also often called Learning and Development (LD), or Management Development (MD). Management is an art, not a skill. Hence, only actual practice and experience increases someone’s abilities. Of course, a foundation of knowledge of best practices, styles, and some structure is very helpful and that can be learned. Models, rules of thumb, and reading will help a lot. It will just not be enough.
Any company over about 10 employees should have ongoing monthly or quarterly education goals for managers, or ideally all employees. This allows people to grow with the company, creates loyalty, and is a big win-win. This does not have to be expensive. I generally recommend about 2% to 3% of management salaries for an MD program. This can pay an RPI that is 10 to 100X.
Some MD can be just reading assignments. The key is knowing the best books for a given employee at that time. The desire to learn and grow is also the test of an employee’s ability to move up in the organization. Those unwilling to invest time in themselves are not very likely to be go-getters that you can promote rapidly. So, assignments should be on their own time when the company pays for the books or other material, ideally. Of course, some can be during work hours too.
Join our consultancy session to solve your complex business problem, click here
Today, most training can be on-demand video, but there should be a variety and mix of learning modalities. People have preferred methods, and even generational differences in how they like to learn have been well documented. Managers should likely attend one larger industry seminar per year, read books, watch videos on the art of management, and more. This grows their industry view and knowledge. And is a break from the grind that is appreciated. They should bring back a report on what they learn and saw, too.
“The function of leadership is to produce more leaders, not more followers.” – Ralph Nader
For serious companies that want to grow and dominate their space, an Organizational Development (OD) program is required. This is about installing the systems, policies, process and practices a company needs as it gets larger. It dovetails with the individual’s MD program planning the organizational chart and developing people for future roles. OD programs also install and train company processes for hiring, firing, sales, budgeting, the monthly cadence of management meetings for communications and planning, etc. Some are generic and others are specific to the company and its processes. The investment in these needs to be made in proportion to a company’s growth rate and size/maturity.
Bob Norton is a long-time Serial Entrepreneur, CEO and investor who founded six companies with four exits that returned over $1 billion to investors for a 25X ROI. Two others are still in development. He has trained, consulted and advised thousands of Entrepreneurs, CEOs and boards since 2002. ™. Mr. Norton works with companies to 2X to 10X growth rates and valuation using AirTight Management™, the world’s most comprehensive Leadership Operating System™. He also helps companies raise capital to fund growth. He is also the Founder of The CEO Boot Camp™ and Entrepreneurship University for early-stage companies that have not reached product-market fit and $1M ARR.
What can we help you with today? Scaling, training, consulting, coaching?
Call (619) SCALE06 or (619) 722-5306 9am-6pm CT
Or Schedule a free 30-minute strategy session by clicking here.