A new report from OpenSesame and Lighthouse Research & Advisory shows investing in leadership and management training pays off—big time.
Wondering how you can best spend your learning and development budget in 2023? It’s something you surely think about every year—but this year, as leadership teams respond to financial uncertainty with more conservative spending decisions, getting the most out of your training dollars is more important than ever.
With so many ways to invest in employee training, prioritizing your options can feel like a daunting task, especially at the start. But if you really want to make the most of your L&D budget, there’s strong evidence that investing in leadership and management training is one of the best choices you can make.
Why Management Training Matters in 2023To better understand the most important issues in the L&D industry this year, OpenSesame and Lighthouse Research & Advisory asked 1,000 talent and learning leaders, and 1,000 learners, to share what’s top of mind for them. As outlined in the report 3 Key Learning Trends for 2023: What Employers Need to Know, one item that stood out was managerial impact on an organization’s ability to function and the importance of ensuring these leaders are set up to succeed.
According to the data, managers represent the single largest factor in an employee’s satisfaction at work. They’re the primary source of feedback on performance, often the first to communicate difficult decisions, and they’re who employees look to most often for models of work-life balance and team culture. As an executive for a global manufacturing organization explained in their survey response, “managers are the number one influencer of someone’s experience at work. The managers we select, promote, and train are some of the most critical people in the entire business.”
But managers don’t always feel they have the support they need to be successful. The survey revealed managers’ strong desire for more investment in skills they need to understand and empower their teams. From more formal training to mentorship opportunities, managers are eager for growth opportunities.
The bottom line: If you don’t invest in your managers, you’re missing a major avenue for reaching your workforce and shaping organizational culture. Jobs today can be full of stress, challenge, and change; in the face of this, supporting managerial development is one decision that can deliver incredible value and impact.
Managers represent the single largest factor in an employee’s satisfaction at work, which is why leadership training needs to be at the top of your 2023 L&D needs. Read OpenSesame and Lighthouse Research & Advisory’s report 3 Key Learning Trends for 2023: What Employers Need to Know to find out more.