BLG Leadership Insights Features

The Dollar Value of Leaders

Next time your boss gets mad at you, show him or her this chart.

According to the research presented–it takes an employer about $5,500 to replace one $8 dollar-an-hour employee. If you’re lucky enough to make more than $8 an hour–imagine what it would cost your company to replace you.

If I knew this a few years ago I would have been a far worse retail employee.

Anytime my manager would demand I that I put my cellphone away, I’d bring up the $5,500.

Anytime I’d be caught taking a long 15 minute break, I’d bring up the $5,500.

And if I happened to arrive late–I’d cough, $5,500.

I wonder how far that would have got me. Probably exactly where I am now. Sitting in an office, remincing about the good old days in retail where lunch breaks were one hour long, by law.

The graphic wants to warn small business and HR departments that firing and hiring aren’t cheap processes. Time and money goes into finding and training new people as well as making sure the person on the way out has all his paperwork in order.

But that’s obvious. However, seeing a dollar amount attached to the process makes the obvious startling.

The chart also revels something else, but not directly. It shows small buiness owners and HR departments the value of good leadership.

Good leaders create retention. People like good bosses that communicate goals, push movement, and create some space for creativivity. If people are happy, they tend to stick around.

Now we can look at the chart a different way.

Every talented leader creates value–$5,500 dollars or more of it–every time they rally a team together, get things done, and make people feel good about themselves.

Again, this might be obvious, but it’s helpful to see, in real dollars, how much money a good leader can save a company.

BLG Leadership Insights Leadership On the Edge

10 Must-Read Social Media & Leadership Stories From July 5-9

1. 11 ‘tragic’ behaviors leaders should probably certainty unlearn.

2. Here’s your que to breath a sigh of relief: Maybe you don’t need a social media strategy.

3. Leadership and life evaluation from Bill Murry’s unique perspective.

4. Learning some compelling HR pointers from a soccer club in the Netherlands.

5. Key steps leaders can take to avoid becoming irrelevant.

6. Interesting examples of good, bad, and ugly corporate social media strategies.

7. 4 solid lessons from entrepreneurs who made it in college.

8. The story behind 15 great companies and how they named themselves.

9. America’s distant relationship with soccer and the World Cup.

10. The odd time-line of a brand’s legacy: The Popsicle.

BLG Leadership Insights Leadership On the Edge

10 Must-Read Social Media & Leadership Stories From June 1-4

1. Breaking bad news to the boss or a colleague can be hard. Thankfully (and with humor) Nicole De Flanco gives us 5 easy steps to follow.

2. A great (and easy to follow) guide to Heisenberg’s Uncertainty Principle and how it relates to management.

3. Leaders have to control their ego in order to lead effectively. Here are 10 ‘red flag’ warning signs that narcissism might be looming.

4. Social media recruiting: looking for work and networking on Facebook just got easier with Simply Hired.

5. Great ways cloud computing can help small businesses (cheaply and easily).

6. WikiLeaks fights for transparency. A great example of a visionary leader under pressure.

7. Using social media to bridge the Baby Boomer / Gen Y generation gap.

8. Location can shape the quality of a person’s work. This post explains four reasons location can be a big factor for leaders and teams.

9. Great resource: The Top 50 HR Blogs to Watch.

10. Doing business in China is a challenge. We’d do well to learn form how different corporate leaders deal with the hurdles.

Picture Link: Heisenberg

BLG Leadership Insights

Gary Bettman and Rob Manfred Cornell Club Talk [Video]

The ILR Workplace Colloquium Series is held at The Cornell Club in New York City. Periodically we bring together practitioners, Cornell alumni, policymakers, and academics for an evening of good food, presentations, and open discussions on workplace topics.

A few months ago we had the pleasure of hosting Gary Bettman, NHL Commissioner, and Rob Manfred, VP HR for MLB. They jointly discussed labor relations in sports. The talk was called, “Human Resource Practices and Industrial Relations in Professional Sports.” The discussion and the following question and answer session was fantastic. Even those who weren’t especially sports fans or knowledgeable about labor relations in sports management found the conversation entertaining and educational.

If you’re sorry that you missed it. Don’t worry. It’s on our IWS Colloquium Website for all to see. Please find it here.

I hope you enjoy it as much as I did.

Picture Credit: mhaithaca