Benefits to Management Development ProgrammesBy
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In my last post I discussed how Management development planning (MDP) should be an ongoing program set up in any organisation (you can read full details by clicking here: Management Development Planning).
Now, one would think that it is fairly logical that an organisation would benefit from keeping a strong focus on all forms of training and development of their management. Regrettably this is not the case and many organisations have to be shown the benefits a consistent and well executed development programme has for the company.
There are several reasons where the benefits far outweigh the costs. One of the more important ones is the fact that regular training and development programmes increase job satisfaction and morale among managers and of course employees.
This increase in job satisfaction is important in the retention of good people. This is particularly significant in keeping ones management happy. Good managers are not easy to find. Of course finding a good PA might not be that easy either. But managers who deliver on their mandate are particular scarce on the ground.
A well trained and developed managerial staff provides increased efficiencies in processes and production which in turn impacts fully on the bottom line. Financial gains are measurably better if management and the work force have had the benefit of attending development programmes.
A well executed management development programme will contribute to an increase in the capacity of managers to adopt new technologies and methods. It is not just the fact that managers need to be able to use new technologies. It is also relevant in that managers will be able to evaluate technologies as they come onto the market and decide whether the adoption in their organisation might be appropriate.
Many organisations may have managers who lack the skills to understand technology, see trends developing and implement these new methods to the better of the production process and overall efficiency. Training and development can make a substantial difference in this field.
As mentioned above a training and development programme may have the benefit of reducing employee turnover. It has been found that by focusing care and attention on people, which one does with a development programme, employees become more loyal to the organisation and feel more needed.
A further benefit to this is the fact that a company’s image is enhanced. Not only because managers have had training in such areas as ethics, social responsibility and how to deal with ethnic differences.
It is also appreciated by the labour market that this company spends time, money and effort on its staff. This creates the perception that the company is a good organisation to work for and therefore receives more applicants for positions. It allows the company to be more selective when looking for staff. A good example of this is Google.
An area that a solid MDP addresses is one of risk management. With the litigious nature of people nowadays it makes good business sense to train up managers on issues such as sexual harassment and diversity.
There have been some companies that found out too late that their managers have taken the liberty of sexually harassing women staff members. Their pockets have had to be very deep to pay for these indiscretions by their managers.
Overall a sophisticated and appropriate Management Development Programme has more benefits than disadvantages. And they certainly outweigh the costs that such initiatives might bring with them.