Poor leadership costs £6 billion
Jan 19 2007
Business in the UK is suffering from the poor leadership skills of Britain’s bosses, costing more than £6 billion a year, says a new study. The survey claims that business leaders fail across the board at setting clear objectives, motivating staff and weeding out poor performers.
The study, commissioned by chartered psychologists Ros Taylor Ltd, asked over 1,500 people from different-sized organisations throughout the UK about leadership in the workplace. Of the respondents, 77 per cent say their boss was not interested in them, 90 per cent say their boss does nothing about poor performers and 79 per cent claim their boss does not set clear objectives. Worryingly, 89 percent say their boss lacks innovation and is unreceptive to new ideas.
‘That’s only 15 per cent of people we asked who thought their boss was any good and eight per cent who thought they were inspirational,’ said Ros Taylor, managing director of RTL. ‘I wish I could say I was shocked – but the truth is it’s slightly better than I expected. The fact is that while businesses are quite rightly paying attention to their cost base – squeezing every last ounce of value out of the food chain – they are not so cleverly overlooking a very real business and financial asset: Leadership.’
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