The Importance of Leadership Development for Your Multi-Generational Workforce
By Adam Cobb Regional Manager, Halogen Software | March 15, 2015
For years, it's been well known that the hospitality industry at large has suffered from high employee turnover. However, a recent survey by the American Hotel & Lodging Association and WageWatch, Inc. shows the hotel industry offers good, high-paying jobs with benefits and a fast track to senior positions within the hospitality sector.
With Millennials entering the workforce perhaps now, more than ever, we are seeing a diverse employee mix within the industry. This diversity requires leaders who understand how to coach employees to high performance in a way that meets their individual development needs versus applying the same management style or technique to one generation or the next.
However, it's important to note that looking at talent management as a stopgap to high turnover rates is just a band-aid solution. After all, an established talent management strategy carried out corporate-wide reduces turnover naturally because it enables organizations to attract, engage and retain the best and brightest staff. Indeed, HR-related areas such as pay for performance, compensation strategies, and creating a friendly and pleasant working atmosphere are important aspects of any talent management strategy. However, so too is leadership development because improving the skills of those responsible for your employees is the key ingredient to developing a high-performing staff at all levels.
Leadership Development for Today's Workforce
Strong leadership is one of the key pillars of success at any organization. This doesn't only refer to executives or senior management. It's about managers at every level of the organization. The results of a Harvard Business Review Analytic Services study last year revealed 79% of global executives believe lack of frontline leadership capability negatively impacts company performance. It's critical to the success of any organization that individuals in leadership positions are given the tools, resources and development to succeed. Too often, front-line managers are overlooked when it comes to leadership development. This is puzzling because, in reality, 70-80% of the workforce reports to front-line managers.
It's obvious that leaders hold a tremendous amount of responsibility. And while it might be easy to simply become a task manager, someone who assigns things to do and makes sure they are done on time, it's not what leadership is about. Leadership is about helping employees align their personal goals with the organization's overall goals, and weave in how it all fits towards helping achieve career goals.