Benefits of a strong management team
Making people development a strategic priority offers a number of benefits, including:
- greater ability to attract and retain talent
- improved “CEO return on investment”
- increased ability to adapt to change
- competitive advantage that compounds itself every year.
Change is running rampant through everyone’s industry and marketplace. The companies with strong management teams will face the change and thrive on it. They will use it to differentiate themselves and gain a position of market leadership, while other companies struggle to keep up.
Principles of management development
The fundamental principles of management development that apply to companies of all shapes and sizes are as follows.
- People development is the CEO’s job.
- Management development must be a priority.
- People development must become part of the culture.
- Growing people requires change.
- Everyone – even your A+ performers – can improve.
- Everyone must become the expert at his or her job.
- People must take responsibility for their own development.
- You should focus your development efforts on your best people, not the problem employees.
- People development is not a quick fix.
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