I've been reading a new research book about how important Managers are by Gallup.
MY TOP FOUR HIGHLIGHTS:
The single most profound finding in 80 years is that 70% of a team’s engagement is determined solely by the manager. That's right - one thing matters above all else - the quality of the Manager.
Only 15% of employees are engaged at work.
If an employee gets daily feedback from their manager, they are three times more likely to be engaged.
The biggest predictor that you will be selected to manage others is: That you are really good at something unrelated to managing (like being a good salesperson or accountant)
OTHER HIGHLIGHTS:
The most serious short-term problems in our workforce today are: Declining economic dynamism and declining productivity per capita.
Our failure is in failing to maximize human potential.
Only 22% of people strongly feel that their organizations have a clear direction.
27% of employees believe in their company’s values.
If you were to double the percentage of employees who believe in their company’s values, then you would drop absentee-ism by 34%, you would drop safety incidents by 42%, and you would increase the overall quality of work performed by 19%.
21% of people strongly agree their performance is managed in a way that motivates them to do great work.
The cost of poor management and lack of productivity by disengaged employees is $1.2 trillion in the U.S. and $7 trillion globally.
Organizations overlook established scientific findings. They appear to be swept away by performance management fads. Only 26% of employees say manager feedback helps them work better.
“If leaders were to prioritize one action, Gallup suggests they equip managers to become coaches.”
Only 1 in 3 managers strongly agree they had opportunities to learn and grow in the last year, despite billions being spent on manager development.
75% of full-time employees say the ability to check in on their mobile phones outside of working hours has proved to be a positive development.
61% of people think companies should be responsible for re-training their workers.
“Jobs of the future require creativity and the ability to learn quickly. Organizations need to get much better and fast at developing people.”
Only 3 in 10 U.S. workers strongly agree that there is someone at work who encourages their development.
When customer engagement increases, so do sales.
Engaged customers buy more frequently, spend more per transaction, and pay a higher margin.
WHAT SHOULD COMPANIES DO
1. Be very careful when you select people to manage others - only select on the qualities that make managers excellent
2. Train your managers and give regular 360 feedback to ensure they are on track
3. Train them in EQ in particular
4. Change your reward system so that your best engineer, salesperson or accountant doesn't have to become a people manager in order to achieve the same pay rate
5. If people can't manage - move them immediately
6. Get all first-year managers a coach
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