TradePost would like to welcome back Bonnie Cox, founder of Power Training Institute. As summer ends, Bonnie outlines 3 reasons that you should send your managers back to class.
Fall is just around the corner. Books, pencils, and notebooks are filling the backpacks of children once again. Of course, most employees aren't at that stage of life anymore. How long has it been since your managers have been trained? Did it stick? Is it in the budget this year? Do you need to hire... again? Here are the top 3 reasons why sending your managers "back to school" should be one of your company's top priorities.
1) Not training has a cost.
It's proven that it is far more expensive to hire and/or fire an employee than to train them. Remember what Marcus Buckingham (First, Break All the Rules) says about employees that resign: "People leave managers, not companies." Well-trained managers will help you maintain your workforce and their morale. It costs more to remain on standby as your turnover rate escalates, than to invest in a professional development program for your managers.
2) A happy manager means business.
A recent Gallup poll highlights that only 35% of managers in the U.S. are engaged in their workplace . What does this mean? A disengaged manager means that the workforce under their watch will be less inclined to perform. It will affect key profit factors such as productivity, profit margins, and customer satisfaction. Employees who work for engaged managers are 59% more likely to participate in their work (Gallup, 4/2/15) . This means high quality performance and workforce stability for your organization.
3) Focusing on purpose can increase profit.
So how do you engage your managers? Franklin Covey always taught to "begin with the end in mind." To grow any company you need a high-performance management team that is organized, accountable, and strategic. Managers need to feel engaged to the company's mission and purpose in order to perform and influence others to perform. Just understanding a company's purpose is not enough; managers and employees need to feel that their efforts are a contributing factor to your mission.
Equip your staff with the right tools to take your company to the next level. Think about what your staff needs. Are they lacking motivation? Are you experiencing high turnover? Are your managers communicating effectively, consistently, and appropriately with their teams? Don't hesitate and join the back to school season. It's time to send your managers back to class.
To learn more about PTI and their management classes, call (805-456-5227) or visit www.powertraining.biz.