0:01
Hi, good morning. This is John Heinrich. Thought I’d offer a few comments on being a good boss. I was talking to my daughter-in-law, who works with a gal who she considers to be a good boss, and she’s ultimately probably going to do a course for us. But I thought I’d offer my comments from, oh, God knows how many years of experience.
0:24
The reason you wanna be a good boss is that employees are very expensive. It costs about $15,000 to recruit one, including the cost of firing the old ones, onboarding, and everything else. So that’s question number one. Number two. It is related to number one in the sense that you wanna try to drive turnover down to somewhere around 10% to avoid the expense in item number one.
0:56
So those are two good thoughts, and why you ought to be a good boss. And well, there’s really a third reason, and that is. That was when we conducted our survey before the second iteration of the business school. Probably the number one reason that people cited for quitting was bad supervision, which is right in the boss genre.
1:22
So you don’t want to cost your company money because that’s not the way to get promoted on the bottom line. So, three things to keep in mind: costs of turnover, reducing turnover, and not the cost. And see number one, don’t cost your company money because it won’t get you promoted. Thanks for listening, and we will look forward to seeing you in some of our courses.