According to Bloomberg Businessweek, a recent survey of CFOs finds that 90% expect growth in their organizations, however there seems to be difficulty in finding and retaining the talent to make it happen.
The research suggests that effective mangers are the link to drive employee productivity.
It has been found that:
Effective managers can increase retention level of direct reports by 40% and performance levels by 25%.
Managers spend on average 21% of their time developing direct reports, however only 42% of managers are effective at employee development.
Due to restructuring and layoffs driving the economic downturn managers have, on average, 61% greater span of control.
With aggressive top-line growth targets, these overstretched managers are expected to do more with less, leaving even less time to develop their employees.
This de-prioritization of employee development is a key driver in the erosion of productivity that totals nearly 12% of potential employee output.