Disengaged and poorly managed employees cost American businesses over $300 billion each year!
This shocking statistic was recently published by the Gallup organization, a leading research agency. They also estimate that 70% of employees are disengaged. Much of this is because business owners don’t know how to manage their employees.
As an entrepreneur, this could have a big impact on your business. Your employees may interface with your customers, manage your books, or produce your product; essentially, they’re the lifeblood of your company and your most valuable asset. And this is critically important for any size company—whether you have a staff of one, ten, or hundreds of employees, how well you manage them will play a big part in your company’s success.
Recognizing the problem
Disengaged employees lack commitment and don’t give their all on the job. Here are some signs: they may complain excessively; lack enthusiasm; are undependable; fail to take initiative; or engage in gossip and become disruptive.
How much could this be costing your business?
The impact on your business can be substantial. Teams with disengaged employees are significantly less productive. They have 40% more absenteeism, almost 50% more safety incidents, and produce significantly lower customer satisfaction.
Many entrepreneurs are aware of the problem and feel like managing their staff is a constant struggle. They find it hard to hire the right people, and they’re frustrated with problems that never seem to get better.
The solution—Improve your management skills
There’s a direct link between your skills as a manager and your employees’ engagement and productivity. That’s because a skilled manager can provide their employees with what they need most—clear direction, effective feedback, and a sense of purpose that motivates. Skilled managers also know how to identify the right person for the job and to make corrections when necessary.
Join us and learn how to manage your employees
On Tuesday, June 17th, I’ll be leading a special session at Impact HUB Boulder on this topic—How to Manage Your Employees: A Workshop for Entrepreneurs—that will teach the skills you need to manage employees and get results.
Topics will include:
- How to interview potential employees and select the right ones
- How to supervise employees day-to-day and ensure you’re getting results
- How much supervision you should give, and the right kind of supervision
- How to give feedback and correct problems
- How to keep your employees motivated and engaged
Who should attend—As I mentioned earlier, how well you manage your employees will have a critical impact on the success of any size company. This workshop is intended for entrepreneurs with staffs as small as one, or as large as 100 or more.
Click here to register today.
About the author:
Gerry Valentine is president of Vision Executive Coaching, where he helps entrepreneurs, business leaders, and companies succeed. In addition to being an entrepreneur himself, Gerry has 30+ years of leadership experience in companies ranging from Fortune 100s, like American Express and Pfizer Inc., to small and mid-size business. He has also been an advisor to start-ups, small business and non-profit organizations for many years. Gerry holds an MBA from New York University and a BS from Cornell University.