Leadership development in a peer group setting can be a powerful tool for business owners looking to cultivate the skills of their managers and emerging leaders. By its very nature, the peer group setting can provide a more flexible structure for developing your leaders, enabling individuals or small cohorts of leaders to participate in programs without the need for the larger investment required for more substantial cohorts. As a result, this creates a very cost-effective solution for business owners.
In addition to being cost-effective and more accessible for individuals or smaller groups, we have summarised four key benefits below that peer group leadership development can offer:
- Diverse perspectives: When leaders participate in a peer group, they are exposed to a range of diverse perspectives and experiences. This can help broaden their understanding of their own leadership style, as well as give them new ideas and approaches for managing their team or business. It can also help them gain a deeper understanding of the challenges and opportunities faced by leaders in different industries and businesses of different scale and/or operating model.
- Collaboration and networking: Peer group leadership development can help managers and emerging leaders build relationships with their peers from different organisations. This collaboration can lead to partnerships, new business opportunities, and the sharing of best practices. Additionally, it can provide a support system for leaders to discuss challenges and receive advice from others who understand their position.
- Enhanced leadership skills: Participating in a peer group can help leaders hone their leadership skills and develop new ones. Peer group leadership development often includes training and coaching sessions that focus on specific areas of leadership, such as communication, decision-making, and conflict resolution. These skills can be applied within their peer group sessions and immediately in their own workplace, leading to more effective leadership and better business results.
- Improved employee engagement: When leaders participate in peer group leadership development, they often return to their workplace with new ideas and strategies for engaging their employees and team members. This can lead to a more engaged workforce, which can result in increased productivity, better customer service, and higher employee retention rates.
In summary, leadership development in a peer group setting can offer business owners a range of benefits – with a primary driver being it results in a flexible and cost-effective solution. By exposing managers and emerging leaders to diverse perspectives, facilitating collaboration and networking, enhancing leadership skills, and improving employee engagement, peer group leadership development can help businesses grow and thrive.
To learn more about our peer group leadership development program, click here for more information on our Leadership Accelerator program. If you’d like to discuss further in person, please free to reach out directly on (08) 6298 6400 or reach out via email through our Contact Us page….