“When companies do not reach the target, it is unpleasant. But there are mistakes that cost more than a quarter failure. And most often they are not related to numbers, but with people. The most expensive mistake is the loss of a key employee due to underestimation. When a person goes because his contribution was not recognized, the company loses not only the competence but also the confidence of the team. Photo: Pixabay others […]”, – WRITE: Businessua.com.ua
But there are mistakes that cost more than a quarter failure. And most often they are not related to numbers, but with people.
The most expensive mistake is the loss of a key employee due to underestimation. When a person goes because his contribution was not recognized, the company loses not only the competence but also the confidence of the team.
Photo: Pixabay Others begin to doubt: should you try if they do not notice the result?
Another critical mistake is the wrong appointment to a governing position. If a person is not ready, he does not just cope – he demotivates the team.
Productivity falls, conflicts increase, and fluidity becomes the norm. It is difficult to correct this error: you need to change the structure, review processes, restore the culture.
The opacity of decisions is another factor that beats the company is stronger than the underlying profit.
When employees do not understand why certain measures are being taken, they lose their landmarks. There is chaos, rumors, resistance. Even the most written strategies are towed if there is no trust.
Bugs in communication with clients can also be expensive. One incorrect tone in the letter, one unsuccessful promise – and reputation suffers. And the restoration of trust is a long and cost process.
But the most noticeable and devastating error is to ignore feedback. When the management does not hear those who work on the front line, it loses its connection with reality.
The solutions become detached and the strategy is formal. In the end, the company moves, but not there.
The failure of the plan can be explained by market, seasonality, external factors. But mistakes in management are internal failures. And if not noticed, they turn into chronic problems.
Smart companies study not only in numbers but also people. Because people are the main asset. And the most expensive loss.
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