In an interview with the New York Times, Kronos Incorporated CEO Aron Ain shared his belief that "the single largest component of a business that adds to shareholder value is great management, and the single largest destroyer of shareholder value is bad management." That's certainly not a far-fetched idea, considering we believe there's truth to the adage people leave managers, not companies. Great managers inspire strong performance and productivity while maintaining strong employee retention, so how can companies use management to their advantage? First it requires knowing what makes great managers.
What makes a great manager?
We're not copping out when we say great management differs from organization to organization, but it's true. There are some basic principles that do tend to perform well across industries though. Studies have shown that employees feel more engaged when their managers are invested in them.
To that end, good managers tend to focus on employee development and growth, setting clear goals and demonstrating personal interest in their employees' success. Figuring out the best approach to stronger management for your specific organization may require some deeper soul searching—both in observation for unseemly concentrations of employee turnover and in giving employees a voice in critiquing the effectiveness of their managers.
How can companies foster good leadership?
Kronos demonstrates this attention to maintaining great management well with their Management Effectiveness Index analysis, part of which involves collecting feedback from employees about their managers twice per year (WSJ paywall). And that's probably something to take serious note of, given they're consistently ranked as a best workplace in employee evaluated surveys. Kronos recently shared 5 Tips to Improve Manager Effectiveness at Your Company and presented on the topic at the Great Place to Work for All Summit.
Just as great employees are developed, great managers should be too—so evaluating and focusing on individual managers opportunities for growth can build stronger engagement between them and their employees.
How can workforce management solutions help managers?
Quite simply, a well designed workforce management system should help alleviate the burdens of many day-to-day administrative tasks, allowing managers to focus less on menial duties and more on engaging their employees. It should allow them to be constructive in building strong, developmental relationships with their teams—while staying organized. For example, the latest wave of mobile and AI capabilities offered by Kronos help managers automate basic operations (to their own specified configuration) and provide immediate, on-the-go access for any task requiring personal input. No more shouldering the blame for things like time-off requests getting lost in the email shuffle.
If you'd like to learn more about how you can use workforce management tools to improve how your managers oversee your employees, we'd like to help. Get in touch so our team can learn more about your specific goals and needs, and we'll work closely with you to devise a solution for you!