This was the lead line in a Harvard Business Review article.  It is an interesting question and one that every business should address.  Consider this analogy; money is spent on maintenance and updating of equipment, why not use the same philosophy for people.  Of course this is a bit simplistic, but worthy of further exploration.  As a society, we discuss the need for good leadership, but we might all disagree on what that means.

Leadership can be identified as a set of practices that by definition “mark the way” and “direct the course”.  Kouzes and Posner in their Leadership Challenge program identify 5 practices of competent leaders:

•  Inspire a shared vision

• Enable others to act

• Model the way

• Challenge the process

• Encourage the heart

Other leadership traits may include accessibility, positive communication strategies and vision.  Think of a person in your life that you admire as a good leader.  What qualities does that person possess and exhibit that leads you to believe that they are leaders?

There are a variety of ways to put good leadership practices in your organization, starting with identification of your business values and vision.  It’s vital that each employee know what part they play in the overall picture of the organization.

Customized leadership programs can be of great value since their application and return on investment can be linked to the specific needs of the organization. Use of 360 degree feedback processes can be helpful when used for development, but only when there is competent follow-up and coaching for the desired results.  How often we have heard reports that companies spend money on retreats and outside leadership programs only to have the notebooks and knowledge gained placed on the bookshelf and not integrated into useful practices that will benefit the individual and organization.

Leadership is everybody’s business and can be practiced at all levels.  Shouldn’t your organization address how you support leadership education and development for your company’s most important asset: your employees!