Stressed at work? You boss needs enlightening
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This creates one of the most pressing
concerns for today's employers: "The challenge for
workplaces today is the attraction, retention and engagement
of skilled staff," he said. "It costs an employer 150 per
cent of an employee's salary to turn over their position.
When employees leave they take with them skills and
knowledge that are of great value to the employer.
Essentially they are taking the corporate memory with them."
This has created what he calls a "war
on talent", and to retain skilled staff Dr Cavanagh suggests
we need more enlightened "transformative" leadership.
His ideal manager is someone who can
take on multiple perspectives, seeing things from the point
of view of their employees, their organisation and the
market or consumer - while at the same time creating an
environment conducive to employee wellbeing.
"Managers need to have the ability to
see things from disparate perspectives to find adaptive and
viable solutions for all stakeholders," he said.
The $3 million project involves
working with industry partners including a leading law firm,
and it will be the largest body of research ever undertaken
on leadership and coaching.
"The project aims to develop leaders
capable of creating the sort of workplace environments which
enable people to flourish" said Dr Cavanagh.
This means more creative, innovative
and loyal employees with balanced, global views, and
hopefully more productive workplaces.
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