Far too many managers believe that a cutthroat pressure-cooker culture gets results. They think that the harder they crack that whip, the better people will perform.
Cutthroat business culture is so prevalent that it’s a cliché in our society, being the inspiration for countless TV shows and movies. The sad thing is that people relate to it on the screen because they’ve seen it firsthand.
But just because everybody seems to be doing it doesn’t mean it works; it just makes it easier to stick your head in the sand and ignore the consequences, and, make no mistake about it, the costs associated with treating people poorly are real.
High-pressure cutthroat organizations spend 50% more on healthcare for their employees than organizations with a more positive, supportive environment because 80% of workplace accidents are attributed to stress, as are 80% of doctor visits.
Cutthroat organizations are actually less productive because they experience significantly lower levels of employee engagement. Organizations with high numbers of disengaged employees have 40% lower earnings per share, are 18% less productive, and have 50% higher turnover.
If you’re working in a cutthroat environment, it’s probably negatively affecting your health, and the impact might be big enough that you should seriously consider doing something about it. If you aren’t yet motivated to take action, consider how the following hallmarks of cutthroat environments suck the life out of people.
1. They overwork people.
Nothing burns good employees out quite like overworking them. It’s so tempting to work your best people hard that managers frequently fall into this trap. Overworking good employees is often perplexing to them; it makes them feel as if they’re being punished for a great performance. Overworking employees is also counterproductive. New research from Stanford shows that productivity per hour declines sharply when the workweek exceeds 50 hours, and productivity drops off so much after 55 hours that employers don’t get anything out of the extra work.
2. There’s no empathy.
Empathy matters. Does your boss really see you as a person and care how you’re doing, or is he only focused on how much work you churn out? More than half of people who leave their jobs do so because of their relationships with their bosses. Smart companies make certain that their managers know how to balance being professional with being human. These are the bosses who empathize with those going through hard times, yet still challenge people. Bosses who fail to really care will always have high turnover rates. It’s impossible to work for someone for eight-plus hours a day when they aren’t personally involved and don’t care about anything other than your production yield.
3. They don’t recognize contributions or reward good work.
It’s easy to underestimate the power of a pat on the back, especially when it comes to top performers who are intrinsically motivated. Everyone likes kudos, none more so than those who work hard and give their all. Managers need to communicate with their people to find out what makes them feel good (for some, it’s a raise; for others, it’s public recognition) and then to reward them for a job well done. With top performers, this will happen often if you’re doing it right.
Read the full article on LinkedIn