AI is too expensive — for now: According to a new analysis from MIT, right now only 23% of jobs could be replaced by Artificial Intelligence in a cost-effective way (Fortune).
VR/AR headsets set to disrupt the workplace: The release of Apple's Vision Pro will push virtual and augmented reality headsets into the mainstream for business uses (Quartz).
Is workplace loyalty a thing of the past? Trends like quiet quitting, job-hopping, and overemployment (juggling multiple full-time jobs) reveal changing norms among today's employees (Business Insider).
Unhappy employees cost U.S. companies an estimated $1.9 trillion in lost productivity last year, according to research from Gallup (Bloomberg).
The disruption of the past few years has reduced satisfaction in the workplace, with more employees saying they don’t clearly know what’s expected of them.
The Real Cause of Employee Turnover — It's Not What You Think
As we move into 2024, many companies will be keeping an eye on employee turnover, one of the key measures of how well an organization is supporting its workforce. Managing turnover involves addressing the root causes, implementing retention strategies, and fostering a positive work environment to encourage employee loyalty and longevity.
Organizations grappling with unusually high quit rates might assume that issues around salary, burnout, or a lack of career advancement opportunities are to blame. This makes sense, given that these topics have been heavily covered in news outlets and on social media. And of course, these issues can absolutely play a part in ushering workers out the door.
However, the real cause of employee turnover at your organization might not be burnout or a desire to see if the grass is really greener on the other side. Some employees are likely leaving due to another reason: a poor experience or relationship with their manager.
New research from isolved reveals that over a third of employees (35%) don't like their supervisor's management style. Another study found that 57% of people have quit because of their boss, and another 37% have considered doing so.
In the realm of organizational success, effective management is a linchpin that can propel a team to new heights. The role of a manager is multifaceted, requiring a diverse skill set and a keen understanding of interpersonal dynamics.
However, many managers could be struggling to provide support for their team members because they themselves are overworked. Their own fatigue might be impairing their job effectiveness, which in turn could affect team performance and the achievement of organizational goals.
What’s more, overworked managers may themselves become part of the turnover problem. If managers are consistently stressed and overwhelmed, they could seek opportunities elsewhere, leading to turnover at the leadership level.
In today’s article, I’ll explore the top 10 traits that distinguish effective managers and contribute to their ability to lead teams toward success. All of these capabilities can be developed through manager training programs and by providing the right support systems (e.g., mentors or peer support).
However, an important first step is for your company to ensure that managers have the bandwidth to take on these added responsibilities. Consider conducting a workload assessment to confirm that managers are able to maintain a healthy work-life balance. Remember that managers play a crucial role in setting the tone for their teams — if they are overworked and stressed, it will almost certainly have a trickle-down effect on their teams.
With those building blocks in place, you’ll be well-situated to help your managers enhance their skills and progress in their roles. Let’s take a look.
The top traits of an effective manager encompass a multifaceted set of skills and behaviors. Leadership, communication, adaptability, decision-making, empathy, delegation, strategic thinking, motivation, time management, accountability, and team building collectively define a manager's effectiveness. Continuous refinement and development of these traits are essential for managers on their journey of growth and improvement. As the business landscape evolves, the role of an effective manager remains instrumental in steering teams toward success and organizational excellence.
Thanks for reading — be sure to join the conversation on LinkedIn and let me know your thoughts on this topic!
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