Creating Great Managers: Part 1
Whether you are a small family-owned business or large national organization, one key principle remains the same in order to attract, retain and empower a great workforce: great managers. Yes, finding the right talent that fits your company’s values and competency requirements is vital, however turning them into loyal team members should be just as high of a priority, if not higher. Keep in mind that turnover directly effects your hard costs as well as the indirect cost of replacing lost talent—so although it may be challenging to find good talent in this current season, executives must not lose focus on the culture and programs that keep talent from finding the next best opportunity.
One of the top determining factors of an employee staying engaged with an organization is their relationship with their direct manager or supervisor. In fact, 79% of employees state they are not managed in a way that motivates them to do outstanding work. Now more than ever, because of the emotional toll from the pandemic, engaging and empowering managers and front-line employees should be top of mind for all leaders.
What are the steps that need to be taken in order to make sure managers are prioritizing this part of their role? Over the next several weeks, we will be breaking down the seven fundamentals of management in a blog series called, “Creating Great Managers”. This is an area of focus for Cosgrove Partners because of the substantial positive impact we have directly witnessed in the organizations that choose to invest in their leadership teams and the contagious impact it has on a company’s culture. This next series of posts will include a breakdown of the Seven Fundamentals to Creating Great Managers:
- How do you (managers) think of your role?
- Honesty is the Best Policy
- Leading with Compassion
- Setting Clear Expectations
- Goal Setting
- Positive Coaching
- Evaluation and Consequences
The majority of U.S. employees show up at their job each day without the guidance, incentives and support needed to perform at their best. While the statistics we shared earlier are somewhat alarming and troubling discoveries, following the process aligned in these posts will help your organization improve engagement statistics or avoid the risk of losing high potential employees due to gaps in management. This method, our Seven Fundamentals to Creating Great Managers, has proven to undo the significant amount of time and money organizations have poured into performance management systems that come to find out are misaligned.
To follow along with this management series, “Creating Great Managers”, follow us on LinkedIn where we’ll updating you with each essential component and corresponding post, and make sure to leave a comment with your thoughts!