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CNBC: Workplaces Can Do 1 Simple Thing to Help Employees Grow, Says Expert: ‘If You Could Do That For $1 Per Leader, You Should’
Originally found at CNBC
That’s the most 65% of businesses spend per year, per employee on leadership development, according to a survey of more than 700 HR leaders conducted by Forrester and HR Executive Magazine.
The importance of leadership spending drills down to a simple math problem, she explains. Without quality leadership, employees become disengaged at work, leading to retention issues. Hiring a new employee to replace an old one costs anywhere from an additional 50% to 200% of the role’s salary, Tynan says, based on Forrester’s analysis.
“The way I always frame this for people is in the context of risk, because that’s really what this number represents in a lot of ways,” she tells CNBC Make It.
Continue reading the original article at CNBC.
Read the original research in Academy of Management Journal.
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