I recently read an interesting post on Harvard Business Review's blog, called How Damaging Is a Bad Boss, Exactly? Having witnessed the ill effects of poor leadership in businesses throughout my career, I believe that is a significant determining factor in a business' overall success (or lack of same).
Bad bosses cost the company in so many ways:
- Loss of good employees - the better the employee, the less tolerant he/she will be of a bad boss
- Cost of replacing and training - for every good employee you lose, there are valuable resources used to try to make up for that loss
- Bad morale - your service will certainly suffer with a bad boss, as customers will bear the brunt of your employees' unhappiness
- Loss of productivity - your business' production will certainly underachieve, if not suffer, due to lack of motivation
It is incumbent upon senior management to recognize bad bosses early and to replace them with good ones quickly. If not a company will have nothing but trouble going forward.
If a good employee is honest at an exit interview he/she will tell why they are leaving. Management should investigate immediately, and act quickly and decisively!
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