One of the biggest challenges leadership, learning, and talent development professionals face when they propose a new initiative is convincing their CEO of the financial impact of the proposed initiative.
Without a clear sense of the positive financial impact, it’s easy for a leader to dismiss a new proposal as being too disruptive, too expensive, or too time consuming.
An analysis of more than 200 organizations by The Ken Blanchard Companies found that every year of delay in improving leadership skills costs the typical organization an amount equal to 7 percent of their total annual sales. This represents millions of dollars each year—because poor leadership behaviors not only increase the loss of high potential employees, they also lower the employee work passion and productivity of the people who remain with the company.
Research originally conducted by Leigh Branham, a leading authority on turnover and retention and author of
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