We’ve all heard the old business conundrum before…
CFO asks CEO: “What happens if we invest in developing our people and they leave us?”
CEO to CFO: “What happens if we don’t and they stay?”
Your business is successful because of the collective energy and efforts of the people working with and for you. If you want to make your business better, invest in your people.* According to a Gallup study, a staggering 87% of employees worldwide are not engaged: meaning small and large businesses alike cannot afford to overlook supervisory training and development for a number of reasons.
So why is investing in your middle management's training so crucial to your success?
Training your supervisors can...
1. Save You Money Spent on Litigation
When you give an employee supervisory authority within your company, they are likely acting on your behalf and the company could be be held liable for their actions. With the rising cost of litigation and the increased average judgment, a company simply cannot afford to have an uneducated supervisor making judgment calls on its behalf. In addition, a strong training program may reduce and/or eliminate punitive damage awards in the event of litigation.
2. Protect Your Employees - And Make Them Happy!
The basics of sound management - clear objective setting, employment law basics, fair hiring practices, coaching and progressive discipline - aren't something everyone instinctively knows how to do. When supervisors are properly trained in things like HR and leadership, their direct reports are less likely to have their rights infringed upon and more likely to be happy in their work environment (and more productive!).
3. Proactively Stop Misconduct Before It Gets Out of Hand
Supervisors are your eyes and ears. Your company's middle management hears and sees things that upper management cannot; therefore, they have the ability to nip poor behavior in the bud before it take on a life of its own. Front line supervisors can also raise the red flag to senior leadership or human resources when something they see is not right. They cannot do this, however, if they haven't been properly educated on what right looks like.
4. Reduce Employee Turnover
It's a well-known fact that employees do not leave companies; they leave supervisors. The cost of turnover can range from 16% for lower-level positions to 213% for higher-level positions of an employee's annual salary.** If a company could reduce their employee turnover by simply educating their supervisors how to be better leaders, the investment would be money well spent.
5. Give Your Supervisors Job Security
Good supervisors don't just happen. It takes intentional effort by the company to provide the proper education and resources. As Richard Branson once said, “Train people well enough so they can leave, treat them well enough so they don't want to.” Your middle managers of today will become your leaders of tomorrow. If your company is just going out and hiring leaders instead of developing your own, you have to ask: Why?***
You don't have to look far and wide for supervisory training. In fact, our Consulting division is offering a quarterly Supervisory Boot Camp to help bring managers up to speed on employment law and leadership practices. Our intensive two-day, 8-hour course is designed to give supervisors the essential knowledge and confidence to lead others. Participants will be educated on employment laws and learn what compliance with those laws look like from a practical standpoint. This training will also cover how to promote a harassment-free work environment, tips on interviewing and hiring, coaching employees to success and the proper use of progressive discipline.
**Huffington Post, "High Turnover Costs Way More Than You Think"
***Forbes Magazine, “10 Reasons Why Companies Should Invest more in Management Training”