Yikes. A recent infographic from Corporate Executive Board explored “The Hidden Cost of a Failed Manager,” and warning: It’s a lot.
The company found that just one failed sales manager can cost a company up to $4 million dollars by reducing productivity, taking a toll on customer experience, and stunting team engagement, in addition to salary and training and recruiting fees.
But there are only a few bad eggs, right? Nope. Even more depressing is the sheer amount of weak managers in the workforce. According to the data, only 25% of employees think their companies have the right leaders in place for success.
These numbers are pretty bleak, but on the bright side, CEB also provides advice for how to improve the situation. If you can swallow the $4 million price tag, check out the other stats, and then give some serious thought to your sales manager training regimen.