Good leaders impact your bottom line!

When you have hired and/or promoted the right people in your team to a leadership role they will make
a difference to your bottom line. The key is making sure you have the people in the right positions.
Often when interviewing people we ask “Why do you want to be a leader/manager?” The answers vary
and many are motivated by career advancement, not the actual role itself.

If you ask them to “Describe the type of leader they are?” this question often gets you a more defined answer. Career advancement gives people the opportunity for more money, benefits, vacation, bonus’ you get the picture. The funny thing many want these benefits that come with the role of being a leader but not the actual responsibility.

Ask “Are you ready to be accountable for the actions, behaviours, and results of other people?” that is
the real question behind leading/managing. The impact of great leaders in organizations is proven to
have great results:

Improved employee moral = better work environment where people want to work
Productivity of the team increases = more revenues within the same hours
Less sick time = reduced stress on benefits costs and the people on the team
Happier customers = both internal and external
More productive meetings = saves time and money
All lead to more revenue with lower costs!

And that the average hiring mistake can cost you up to 5 times the hire’s base salary? That is money no one wants to waste. These costs are not always apparent and easy to track; just a few:

Loss of productive while the position is vacant
Loss of customers
Training costs
Costs to recruit (advertising, time to interview, outsource etc…)

So remember to access the real reason the people you are hiring or promoting to a leadership/
management role and be sure they are ready to take on the great responsibility that comes with all the
benefits of the role. You will have a happier more productive team all around. These individuals are
working often with the front line employees that deal daily with the customer. The customer is the one
that pays everyone’s paycheque!

Many companies make the claim that people are their most important asset, but unless the employees
are made to feel important, empowered and lead properly they’ll never believe it!
“The speed, skill, and attitude of the leader really does determine the rate of the pack.”

Want to read more?

Share This