Worldwide, the cost of poor management and lost productivity from not engaged or actively disengaged employees is $8.8 trillion, or 9% of global GDP Changing how people are managed is perhaps the easiest way to boost productivity within organizations – Knowing where to begin is the KEY! Yet, the majority of managers receive little feedback or meaningful data on how effectively they manage their team. Less than half of U.S. employees (42%) report having the opportunity to formally provide feedback to their manager, and fewer than one in four (24%) have formally rated their manager’s performance. Managers are not getting much help from their peers either, with only about a third (36%) of managers saying they receive feedback from their peers as part of a formal feedback process. Many managers admit they have room to grow. Four in 10 acknowledge they have not yet achieved an advanced or expert level of proficiency when it comes to engaging their team or managing performance. While six in 10 managers say they are not advanced or expert at developing employees and helping them create career paths. Gallup conducted a study comparing how managers think they are currently leading their team versus how employees say they are being managed. The study used a nationally representative U.S. sample of 2,729 managers and 12,710 individual contributors. Each group assessed how they are managing their team or how they are being managed based on a list of 20 managerial responsibilities. Ratings of each managerial behavior were separated into four categories: • Strengths -- rated highest by both managers and employees. • Known Weaknesses -- rated lowest by both managers and employees. • Blind Spots -- managers rated high, but employees rated low. • Unrecognized Strengths -- employees rated high, but managers rated low. Axíes Group Balanced Organization™ cultural assessment was designed specifically to identify the cultural gaps of understanding between: Executives, Managers, and Producers. As leaders, understanding, and closing these gaps are essential in today hyper competitive and volatile environment to maintain profitability and market relevance. Contact us today for a demo and begin taking the journey to improve your organizations cultural wellness. *source: Gallup
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