Like the example of the tree in the picture above, they represent a significant value to your organisation. So how do you calculate that value?
One way is to consider the cost of having the wrong ones.
Research by recruitment firm Futurestep in 2010 found that hiring the wrong frontline leader costs at least $60,000.
This calculation comes from a report that is now a few years old so I imagine that figure has increased. If you compare it to the cost of more effective recruitment, induction and development it is indeed wasted money.
As a consultant I am often called in to help fix issues that could have been avoided if frontline leaders were given a higher value and afforded a better start to their careers.
Just as a gardener invests time, money and energy into a plant early in its life, organisations need to invest more in hiring and developing the right people to lead their frontline.
This issue is one that I explore in my ebook “12 mistakes organisations make when developing leaders” (which you can download for free by clicking here). It is often the result of what I call the “just in time philosophy” and the “fresh stock attitude”.
So how much are these mistakes costing your organisation? Are you using false economy by wasting money here when you could be spending far less to invest in strategic planning and running more effective development programs for frontline leaders?
Karen Schmidt from Let’s Grow! is the frontline leadership expert who helps organisations grow their frontline leaders so they performer better, which improves team productivity, giving senior leaders peace of mind. To learn about her Practical Leadership model visit www.letsgrow.com.au. To book her to speak at your next event visit www.karenschmidt.com.au.
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