A telecommunications company recently calculated the cost in replacing an operator. After considering the exit interview, administrative activities, replacement and training costs of education, and coaching, the cost exceeded $6K. In addition, there were indirect costs associated with employee turnover including increased workloads and strains as coworkers pick up the slack until new employees are hired and trained.
Your Board: Dynamic, Difficult or Detrimental?
A board can make or break a CEO just as weak internal management can take the CEO down “into the weeds” by having to perform the functions of his/her direct reports. Our experience is that in most organizations the CEO must lead the board AND internal management to understand and effectively fulfill their respective roles and responsibilities. However, an effective board adds real value to strategic leadership and frees the CEO to do his/her job with optimal effectiveness.