Three of the most damaging myths of management
There are many damaging myths in management regarding how to treat employees. Here are a few of the worst, and how to avoid them.
“Everyone is expendable.” In most of the United States, we can hire and fire at will. This has given rise to the myth that all employees are expendable. In reality, no one is replaceable. Conservative estimates put the cost of replacing an employee at 1.5 times their salary – other claim it can cost up to three times. This is not so outlandish when you take into account screening, interviews, scheduling, training, and integration time. If you clocked every hour spent on the acquisition of a new employee, the cost would be significant. Every employee who leaves, regardless of level or circumstance, costs your company real money. Put the necessary time into screening, hiring, and training to minimize turnover and attrition in your department.
“Hiring inexperienced people will allow me to mold them.” Many managers hire inexperienced, often less intelligent people claiming they can be “molded.” While a less experienced employee with high intelligence and potential can be a great choice, poor managers consistently hire lower performers to minimize potential competition. They downplay the skills of their star employees and create closer relationships with the weaker ones. Good managers hire highly skilled, intelligent people and utilize them fully – even if that means the employee can potentially outshine them. There’s a saying in HR, “B managers hire C managers.” This means that mediocre managers only promote those less qualified than themselves. Consider ways you can improve the quality of your hires. Then honestly deal with any feelings of insecurity or competitiveness that your star employees may trigger in you.
“Mentoring is a waste of resources and time.” It’s hard to believe that experienced managers can hold this belief, but many do. The majority of those promoted into management excelled in areas other than effectively leading and interacting with people. I recently spoke with a seasoned executive, who said in his entire career he never received real mentoring or leadership training. More employees leave jobs based on poor management than any other reason. Not only is it important for you to mentor your employees, you should actively seek mentorship from those leaders you admire and respect. Learning the art of leadership is a lifelong process.