An effective manager is capable of leading a team of diverse people to reach a set of goals. In business, those goals change often, and keeping teams motivated to achieve them is extremely challenging. The reason isn’t rocket science.
Adults have their own reasons for showing up to work each day, and their individual goals don’t always align with the goals of an executive team that is trying to drive double digit year-over-year growth for investors. Even companies with the coolest company cultures still have to “make the numbers” or none of those employees will have jobs for long.
Ineffective Managers Cost Companies Money
There are many leadership styles, and each has its positives and negatives. An effective manager understands the strengths and weaknesses of her leadership style as well as the work styles of all of the members of her team. Trying to lead employees in a manner that is completely counter to what they’re capable of reacting positively to is a recipe for failure. It’s like trying to put a square peg in a round hole. It won’t fit—ever.
The infographic from Pepperdine University at the end of this article shows how much ineffective managers can cost a company. For example, employee turnover costs companies $11 billion each year.
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Most Employees Aren’t Happy with Management
Considering that one in three employees in the United States want to leave their jobs and two out of three (65%) would prefer to have a better boss more than they’d want a pay raise, it’s obvious that employee satisfaction is low. It’s also clear that a significant amount of that dissatisfaction is caused by what employees perceive as ineffective leaders.
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Employees want managers who make them feel appreciated and motivated, but research shows that fewer than one in three employees (31%) have bosses who make them feel that way. Most employees who aren’t engaged at work report that the problem is a strained relationship with their managers. If the strained relationship improved, 60% of them claim they work harder.
When asked what they want most from their managers, workers ranked trust highest:
- Trust = 20%
- Respect = 16.6%
- Patience = 12.5%
- Fairness = 10%
- Open communication = 10%
Ineffective management negatively affects productivity and turnover, which directly affect a company’s bottom-line. Fix your leadership and your company will have a far better chance of exceeding goals.
The infographic below includes more data about the effects of poor leadership as well as tips to be a successful manager. What are your tips to be an effective manager? Share them in the comments below.