Managers are more important than ever, as employee dissatisfaction becomes one of the first hurdles in today’s race for talent.
According to a McKinsey study, whose main conclusions are set out below, one of the main factors cited by employees as a reason for leaving in the midst of the so-called Great Attrition was that they did not feel valued by their boss and this mostly caused employee dissatisfaction.
You can see the significance for companies of this concept in the following link to the post to the management consulting firm McKinsey.
Great attrition, high attrition and high attraction.
In the midst of the ‘Great Desertion’, where professionals around the world are willing to change jobs, companies and even industries, there are those who speak of the ‘Great Attrition’.
This concept refers to the prevailing professional weariness and frustration. But this term, as reported in the newspaper Expansion, must be converted into the ‘Great Attraction’, and the key is whether your company is able to convince you not to leave with something more than a pay rise.
For all these reasons, the continuous measurement of employee engagement, synthesized in the eNPS indicator (which you can analyze in the following post) and the constant evaluation of employee dissatisfaction through platforms such as Allswers, becomes a critical element.
In today’s business world, measuring and managing the employee experience has never been more important.
Employee dissatisfaction and its impact on business results.
According to a study by McKinsey, people who work in organizations with good employee-management relationships report much greater satisfaction with their jobs. Among those who say that relationships with managers are “very good,” 74% say they are very or completely satisfied in their jobs, compared to only 15% of those who say relationships are “very bad.”
Countless studies also show the empirical relationship between employee satisfaction and business outcomes, such as customer loyalty and profitability.
One large-scale study found that business units with employee engagement in the top quartile achieved operating profit margins between 1 and 4 percentage points higher than those in the bottom quartile.
But being a good boss is not simple; only 10% of people naturally have all the traits needed to be a good manager. Many of the incentives to be a leader are also misaligned; research suggests that some leaders may even achieve their positions by being self-centered, narcissistic and manipulative.
In contrast, the fundamental elements of good employee-manager relationships are the same as in any other human relationship: mutual trust, encouragement, empathy and good communication.