A recent white paper from the Ken Blanchard Companies illustrates a lack of leadership investment is costing companies an average of 7% of annual sales. Blanchard reports that the leadership impact on the bottom line is primarily a result of leadership impacting these three areas;
Employee Productivity, most organizations are operating with a 5% to 10% productivity drag that better leadership practices could eliminate.
Customer Satisfaction, better leadership can generate a 3 to 4% improvement in customer satisfaction scores and a corresponding 1.5% increase in revenue growth.
Employee Retention, at least 9% and possibly as much as 32% of an organization’s voluntary turnover can be avoided through better leadership skills.
Read the whole report here.