Succession planning is at the top of the priority list as organizations contemplate the sheer numbers of employees who will be heading for retirement in upcoming years. The importance cannot be understated. Yet, we have probably all heard that we are bad at succession planning, and that most of our attempts to do it fall short of expectations and/or fail to meet the needs of the organization. But just how bad is it and what impact does this have on our organization’s ability to serve our customers, guests or patients?
Studies show that more than half of workers would choose a great manager over a 10% pay increase. Studies also show that as many as 50% of managers and leaders are ineffective at their jobs. Maybe that’s why so many people would literally leave money on the table to get a better boss.
When companies settle for ineffective managers, they’re leaving money on the table too. Disengagement and turnover are expensive. Actively disengaged employees cost organizations $3,400 for every $10,000 in salary. What’s the leading source of disengagement and turnover? Poor management. If half the managers in an organization are ineffective, that money thrown away on disengagement adds up fast!
Our March 1, 2018 episode is podcast number 51 of our 52-week series. In conversation with moderators, Kim Shirk and Kyle Bruss, Larry Sternberg reviews some of his personal favorite lessons learned from the book, Managing to Make a Difference, which he co-authored with Dr. Kim Turnage.
Kyle begins the conversation by asking why the book begins with a focus on relationships. It’s through relationships, Larry say, that people influence each other. So if you want to make a difference in someone’s life you must cultivate the right kind of relationship with each of your people. He explains why he disagrees with the oft given advice to avoid getting close to your people. And he emphasizes the importance of accepting people as they are – and to stop asking them to change. Listen in to find out how this one piece of advice can literally change your life.
In this week's episode we discuss the final chapter of our book, “Managing to Make a Difference.” It’s about gratitude. In this chapter we encourage readers to think about the people who made a significant, positive and lasting difference in their lives and to answer the following question: “What did each of these people do that made such a big difference?” This act of self-reflection provides important insights and guidance about how to make a positive difference in the lives of the people you care about.
Are you interested in finding a mentor? In this week’s episode, Larry Sternberg shares several easy, practical tips that will increase the odds that you’ll meet the mentor who’s right for you. Tune in to find what they are.
Once you find a mentor, you want to ensure that your mentor finds the relationship worthwhile, and set yourself up to get the most of the experience. Based on his personal interviews with numerous highly successful people, Larry shares lessons learned from them about how to be a good mentee. Very few experts focus this. Want to learn more? Tune in.