{"id":2615,"date":"2023-12-04T07:05:00","date_gmt":"2023-12-04T05:05:00","guid":{"rendered":"https:\/\/medicalmanage.gr\/poor-leadership-is-expensive-2\/"},"modified":"2023-12-21T12:20:28","modified_gmt":"2023-12-21T10:20:28","slug":"poor-leadership-is-expensive-2","status":"publish","type":"post","link":"https:\/\/medicalmanage.gr\/en\/poor-leadership-is-expensive-2\/","title":{"rendered":"Poor Leadership Is Expensive"},"content":{"rendered":"<p class=\"article_css\"><strong>How Expensive is Poor Leadership?<\/strong><\/p>\n<p class=\"article_css\"><strong>More than you think&#8230;<\/strong><\/p>\n<p class=\"article_css\">Retaining talented employees should be a major focus for physicians these days.<\/p><div id=\"medic-1022662692\" class=\"medic-mesa-sto-article medic-entity-placement\" style=\"margin-left: auto;margin-right: auto;text-align: center;\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3269445924940809\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- medical en mesa sto arthro -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-3269445924940809\"\r\n     data-ad-slot=\"8662865328\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p class=\"article_css\">You have heard over the years, that &#8220;anyone is replaceable.&#8221; When I was a young graduate fresh out college, I believed it myself.<\/p>\n<p class=\"article_css\">There were over 25 pharmacists in my graduating class and I was competing for jobs like they were.<\/p>\n<p class=\"article_css\">We had very similar skills and backgrounds and I knew I had to separate myself from them so an employer would hire me and not them.<\/p>\n<p class=\"article_css\">Even a couple years after college, I still believed that I could be replaced at any moment by fresh new talent.<\/p>\n<p class=\"article_css\">It has been drilled into our heads over the years that we are replaceable and we have to conduct ourselves in a way that borders on humiliation.<\/p>\n<p class=\"article_css\">I took my first leadership role over a year ago after working for a few physicians that really did not value the contributions of their people.<\/p>\n<p class=\"article_css\">Overtime and chaos was name of their games. Fortunately, those experiences allowed me to create my own leadership philosophy that centers on the fact that my people are not replaceable.<\/p>\n<p class=\"article_css\">\n<p class=\"article_css\">Employee turnover is very expensive. I recently was invited to speak at a Management Conference on motivation in order to retain good talent.<\/p>\n<p class=\"article_css\">My emphasis was on the importance of creating a pleasant work environment where leaders and employees respect each other.<\/p>\n<p class=\"article_css\"><strong>People will generally stay with a company if they are treated fairly, are given legitimate challenges, and feel their contributions are recognized.<\/strong><\/p>\n<p class=\"article_css\">The best way to illustrate the cost of poor leadership is give an example of what it takes today to hire a mid-level physician.<\/p>\n<p class=\"article_css\">First, the physiciant&#8217;s resume would cost the company around $5,000 provided it is coming from a recruiter.<\/p>\n<p class=\"article_css\">Today, many professionals move around the country, so the company would offer a full relocation package that would include moving of household items, vehicles, and pets. This would cost around $8,000.<\/p>\n<p class=\"article_css\">Then the employer would cover travel expenses including airfare, temporary housing, rental cars, and maybe thirty days of living expenses during the transition. I will be modest here and say that would cost around $5,000.<\/p>\n<p class=\"article_css\">Many employers also cover closing costs on both selling and buying of a home that could run as high as $8,000 total.<\/p>\n<p class=\"article_css\">Finally the physician may be offered a starting bonus of $2,000.<\/p>\n<p class=\"article_css\"><strong>So, before the employer even starts paying the pharmacist his or her salary and before the new employee steps in the door they have already paid out around $28,000.<\/strong><\/p>\n<p class=\"article_css\">This is a very large investment and I have seen many people in these positions quit after ten months to a year from poor leadership in a hostile work environment.<\/p>\n<p class=\"article_css\">Now the company has to do this routine all over again.<\/p>\n<p class=\"article_css\">Good leadership is the key to retaining good employees and bad managers will only drive them away.<\/p>\n<p class=\"article_css\">As a leader, you cannot afford high turnover.<\/p>\n<p class=\"article_css\">You invest time and money into enhancing your people to be better employees.<\/p>\n<p class=\"article_css\">It becomes expensive to keep hiring people and training them to be productive and successful employees.<\/p>\n<p class=\"article_css\">You have to realize that employees leave companies for a variety of other reasons.<\/p>\n<p class=\"article_css\"><strong>However, you can still do your part to make their work life a pleasant and productive one.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>How Expensive is Poor Leadership? More than you think&#8230; Retaining talented employees should be a major focus for physicians these days. You&hellip;<\/p>\n","protected":false},"author":2,"featured_media":2614,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[103],"tags":[],"ppma_author":[274],"class_list":["post-2615","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-management"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.10 - aioseo.com -->\n\t<meta name=\"description\" content=\"How Expensive is Poor Leadership? More than you think... Retaining talented employees should be a major focus for physicians these days. You have heard over the years, that &quot;anyone is replaceable.&quot; When I was a young graduate fresh out college, I believed it myself. 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