Is your leadership costing you money?
This week we are talking about YOUR leadership.
Do you have an extra $15,000 laying around? I don't! I had no idea that's how much each employee was costing me until I sat down and really looked at the numbers.
To hire an employee and train them costs, on average, 15 thousand dollars. That's crazy when you think about it. Multiply that by several employees a year and suddenly, it's possible that your management style could be costing the company some serious revenue.
It can be a hard thing to look internally to see if there are issues being caused by something you are doing. This could be completely inadvertent. You may want to say that if you aren’t doing it on purpose, then is it really your fault? The answer is yes, and no. You may not be doing something on purpose, but if you took the time to learn that people have different working styles, learning styles, and management response styles you may learn a lot about not only yourself, but also your employees.
This is a very difficult time for everyone. We’re facing a situation in the world that we have never faced as a modern civilization. We were close, back in the 20th century, but that was a different world in 1918. We have a whole new world now, a world that’s changed in the last 9-12 months. A world that has transitioned from face to face, to a separated online space. A place that makes it even harder to have cohesive working relationships.
Before this pandemic hit, we had kids in school, we had a 9-5 day in the office, and we had a separate space at home after work was over. For the most part, our lives were kept neat and separated. According to the TalentLyft article, only 7% of Americans worked from home before Covid19 hit. However, at the beginning of Covid….almost 64% of people started working from home and only 20% have gone back to work after we were given the “go-ahead”. That leaves us with a massive 44% of workers that have no immediate future plans of returning to an office building in the next months. With the rise of mandatory online learning, we are adding not only the stress of no separation between work and life, but also the added stress of trying to maintain a full time job with the kids at home. As a mom myself, this feels almost impossible. Try as they might, those in leadership, who may not have children themselves, are not aware of this added stress. It can lead to frustrated employees AND management.
As managers and leaders in this time, we are called to take a step further, to truly look at our employees as people and realize they are humans as well. We all have a job to do, but if we take a moment to try to understand our employees and meet them where they are, we will find that they have the desire to work harder and stay longer. Resulting in a happy work environment, increased productivity, and less turnover.
You will see better profits and revenue, and your employees will see a boss who values them as a true asset.
Blog Guest: Amy Kave