Today’s HR insights pose a question to all organizations; are you setting your managers up for success?
Over my tenure as an HR facilitator and training professional, I found that most managers are promoted internally for doing an exceptional job as an individual contributor, yet are rarely given the necessary training, tools, coaching, and/or resources to be an effective manager!
In fact, research shows that most first-time managers don't receive training until they have been in the role for at least 5-10 years. Many clients share, it’s okay, they will figure it out and will gradually learn over time as a part of their development experience. You may agree with this philosophy and wonder why this matters so much? My answer is quite simple; let me assess the $$$’s that it is costing your company.
The HRRX was challenged to uncover the root cause of why a client was losing great talent. We completed an organizational scan, analyzed people data, reviewed exit interview feedback, and conducted internal interviews. Our strategic discovery process found it cost them $5.6 million in a one-year look back. The core issue was the supervisors and managers had unintentionally created 68% turnover because of lack of leadership development training.
The HRRX was able to deliver a customized package that included a Comprehensive Leadership Development Program to drive behavior change that consisted of group training series, individual and team coaching over the next twelve months. We provided progress reports and measured the results showing that turnover was lowered to <11%. Our unique customized program assists participants to obtain an objective perspective on their progress, gain access to essential training and resources in parallel with personal and team coaching to supplement the integration of new learnings for long-term success.
We encourage all companies to "Invest in Their People", your greatest asset, to help avoid these unnecessary costs.