Source | www.forbes.com | Vivian Hairston Blade
Lost productivity could be costing your company big money. In fact, companies are estimated to lose billions of dollars each year due to lost productivity.
The fallacy is thinking that lost productivity primarily stems from process and technology inefficiencies. According to Gallup’s 2017 State of the American Workplace report, for instance, employee disengagement may cost companies more than $483 billion per year in lost productivity.
Leadership behaviors that can suck the life out of your team may be a large contributor to some of this lost productivity. Gallup estimates that “managers account for at least 70% of the variance in employee engagement scores across business units.” Gallup also reports that “organizations that are the best in engaging their employees achieve earnings-per-share growth that is more than four times that of their competitors.”
Take Greg, for example. Greg is a director who leads a department of about 75 employees and has two senior managers reporting to him. Absenteeism was a prolonged problem in his department. It seemed that they also were constantly hiring and onboarding new employees. Employee morale was suffering. And it was taking the team longer to get things done.