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7 mistakes that cost leaders their employees.

The Business Mechanic Podcast with Vaughn Sigmon

Release Date: 01/22/2023

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The Business Mechanic Podcast with Vaughn Sigmon

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The Business Mechanic Podcast with Vaughn Sigmon

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Managers must focus on improved leadership to avoid employees quitting because employee turnover can be costly and disruptive to an organization.

When employees quit, managers have to spend time and resources recruiting and training new employees, which can slow down productivity and negatively impact the bottom line.

Additionally, high turnover can lead to a loss of expertise and experience, which can be difficult and costly to replace.

A good leader creates a positive work environment and fosters a sense of belonging among employees, leading to increased job satisfaction and loyalty and ultimately reducing the likelihood of employees quitting. Are you?

I hope you are but are you doing everything you should as a leader to keep your team happy and productive?

By investing in leadership development, managers can create a culture that attracts and retains top talent, which can lead to improved productivity, profitability, and competitiveness.

If you are interested in getting the training you need to improve your management and leadership skills, you should take advantage of our Results Driven Manager Training.

When managers are able to retain employees, they can focus on other important aspects of their work, such as growth and development, rather than constantly having to replace employees.  

It is so much easier to grow with experienced team members. Therefore, managers should focus on improved leadership to avoid employees quitting, decrease costs and increase productivity, profitability, and competitiveness.

Employee turnover creates extra work and costs, and workload for managers in several ways:

Think about the time suck of the following!

Recruitment and training: This can be time-consuming and costly, as it requires managers to invest in recruiting efforts, advertising, and hiring new staff.

Increased costs: Employee turnover can be costly, as it requires managers to spend money on recruitment, training, and other expenses associated with replacing employees.

Loss of expertise and experience: When experienced employees leave, managers may have to rely on less experienced staff to fill the gap, which can lead to lower productivity and quality of work.

When there is a Loss of intellectual capital: Managers lose valuable knowledge, skills, and experience when employees leave, which can be difficult and costly to replace

Often managers who have not worked on their leadership are playing from behind. Pressure and deadlines loom, and the double down on a command-and-control management approach that just does not work for anybody. Especially the manager! An experienced employee leaving puts them further behind.

Decreased morale: High turnover can create a sense of instability and uncertainty among remaining employees, which can lead to decreased morale and engagement. Some of that lack of morale may be coming from their stressed-out manager!

Increased administrative work: Managers have to do additional administrative work when employees leave, such as updating records, transferring knowledge, and providing references.

Impact on customer service: High turnover can also impact customer service, as new employees may not be as well-versed in the company's products and services and may take longer to get up to speed.

Decreased productivity: High turnover can lead to lower productivity as new employees take time to adjust and become fully productive

People move through different stages as they acquire new skills and knowledge. The journey from unconscious incompetence to conscious competence to unconscious competence is often referred to as the competency curve.

 

So let’s get to the fix.

Here are seven issues that slowly drain a person’s desire to work for an organization.