Your Company’s Biggest Threat to Your Bottom Line: Bad Managers
Forbes recently reported that about half of employees leave companies because of their bad relationship with their manager. The research conducted by Gallup only provides us half of the picture.
The US Census estimated that 2.5 million people in the USA quit voluntarily every year. Estimates indicate that it can cost between $22,297 and $222,975 to replace an employee. At least half of that loss is caused by bad managers!
Let’s look at the same issue from another angle: Half the people that leave are a symptom of a bad manager somewhere making bad leadership decisions. You’ve probably experienced or witnessed this yourself. You simply cannot afford to have ill prepared managers on staff. But firing bad managers does not guarantee the next ones will be any better.
Here is what we can do. Immediate action can help stop the bleeding, and it starts with awareness and training. Managers need to step up their leadership game and understand that what they do is contagious both in a bad way and in a good way. Yes, good leadership can be contagious too! The best way to keep these managers with bad leadership skills from infesting our teams with bad attitudes is to teach them how to become a positive Viral Leader. The sooner you do this, the better.
In our book Viral Leadership, we discuss three key obstacles that keep managers from having a great relationship with their employees: Clarity, Waste, and Conflict. Once managers master how to overcome these obstacles, they can pass these skills along to their teams. That is how the chain reaction begins: from manager -to supervisor -to team leader -to front-line employee… this is Viral Leadership at work and it can save your company thousands.
But why stop there? Why not teach them also how to inspire their teams to perform better? Imagine instead of bleeding money every time an employee leaves due to a bad manager, after training that manager, now you get to keep a more engaged and productive employee than what you had before.
Share your stories of good and bad leadership examples and earn a chance to win a Free Webinar! We look forward to hearing your stories.
Posted on: December 4, 2015, by : Editorial Team