Poor leadership can impact an organization across the board. Romar Learning Solutions shares a few statistics on how poor leadership impacts employee satisfaction and revenue:
Poor leadership can cost an organization up to 7% of its annual revenue (Unicorn Labs)
Poor leadership often results in teams underperforming. When teams are underperforming, revenue decreases. Strong leaders understand the importance of motivating their teams to reach their full potential so they can meet/exceed performance expectations. Strong leaders recognize when their teams are floundering and need additional support; additional support may include hiring new talent, adjusting responsibilities or expectations, or offering new training opportunities. Strong leaders understand that achieving organizational success begins with nurturing team members and their skills.
Better leadership can improve customer satisfaction scores by 3-4% (Blanchard Company)
An organization’s leadership can greatly influence customer satisfaction. When customers are not satisfied with a product, service, or interaction, they may take their business elsewhere; an inability to retain customers results in lost revenue. Therefore, it’s important that an organization’s leaders prioritize customer service and building value-based relationships with their customers. Leaders who are relationship-oriented create teams that are relationship-oriented.
82% of workers would consider leaving a job due to poor leadership (Value Penguin)
Poor leadership is one of the biggest factors in low employee retention. Employees look to their managers for guidance in navigating day-to-day challenges and unprecedented events. They look to their managers for constructive feedback as they grow in their roles or praise for a job well done. When employees feel unsupported and undervalued, they’ll begin searching for other opportunities. Leaders must prioritize strengthening their relationships with their employees if they wish to see business growth.
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