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Why Bad Managers Cost Companies More Than They Realize

Ever had a chat with someone who quit their job because of a terrible boss? I recently did and it was enlightening. This person mentioned something crucial: the lack of feedback. They never knew if they were doing well in their boss's eyes because they never got any reviews or recognition for their work.

Here's the deal: People need feedback to thrive at work. When bosses don't give it, folks find a new job that will give feedback. And when they leave, it costs companies big time—like, lots of money. In fact, it's estimated that poor management costs U.S. companies up to $550 billion annually[1].

Employee turnover isn't cheap. It costs money to find, hire, and train new people. Plus, when someone leaves, you're losing all they knew about the job and the company.

But here's an interesting stat: for every dollar you spend on training managers, you get four dollars back [2]. That's not a bad ROI.

Training managers isn't just about making them better bosses; it's about creating a work environment where people get the support and feedback they need to do their best.

So, companies, listen up! Training your managers isn't just a nice-to-have—it's a must. When managers know how to give feedback, recognize good work, and support their team, it makes everyone happier and more productive.

In the end, it's simple: better bosses mean happier employees and a more successful company. It's an investment worth making, not just in dollars, but in the overall health of the business.

SueQ Co., offers practical, hands on manager training. Sign up now for our Enhancing Feedback Skills for Managers! We have a class still available November 9th at 10:00am ET! You can sign up here!



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