Great managers are turbochargers for team and business performance. So, when good managers leave an organization, the impact is significant. Not only are the direct costs of hiring replacements expensive, but there are also costs associated with lost productivity while new managers are coming up to speed, as well as the lost revenue while a position is vacant.
In a growth economy where unemployment is low and employees tend to job-hop, high-performing managers—who can keep the organization running—are even more crucial. Designing initiatives to retain managers is paramount.
