Managers are critical. In fact, according to McKinsey, “relationships with management are the top factor in employees’ job satisfaction, which in turn is the second most important determinant of employees’ overall well-being.” That is second only to mental health. It makes sense then that managers are a huge contributing factor of turnover. LinkedIn research found that 75% of people quit their job to “get away from their manager at some point in their career.”
While turnover has always been burdensome to companies – with the average cost to replace lost employees often exceeding $5,000 – it’s become even more so as of late. Not only is it expensive and time consuming to hire and train new employees, but competition for talent is fiercer than ever before. It truly is a job seeker’s market and companies are fighting neck and neck for every feasible applicant they receive.
That said, managers with strong leadership skills will be even more essential to employee retention, especially considering workforce professional development and career growth is non-negotiable for today’s millennial and Gen Z workforces. Unfortunately, this coaching function has become an afterthought at many companies as many managers struggle to find the time amidst their own growing set of responsibilities.
Effective, targeted coaching is also nearly impossible without insight into employee performance. As a result, many managers are applying blanket coaching and development strategies for employees when neither is one size fits all. While it’s important that managers consistently make time to build relationships with and develop their employees, organizations must meet them halfway and provide the tools needed to offer personalized coaching where and when it’s needed.
Microlearning – quick, scenario-based questions delivered to learners in the flow of work that build proficiency and long-term knowledge retention – is typically associated with the learning and training function. However, modern solutions are also built to help managers succeed. Qstream’s microlearning solution funnels the data collected by the assessments into a dashboard built just for frontline managers, giving them access to all the analytics they need to build personalized, meaningful coaching and development plans. Managers can see engagement, proficiency and completion rates – with the ability to drill down by topic and question at the team and individual level. This level of data has led to about 10,000 coaching scenarios per month across Qstream’s customer base.
Equipped with a real-time snapshot of team performance, leaders can make the most of their time spent coaching and developing employees. Conversely, managers can use the data insights to provide praise and reward top performers, which is a huge selling point for the modern workforce. In a survey conducted by Great Place To Work, 37% of respondents said that more personal recognition would encourage them to produce better work more often.
In addition to offering meaningful development and recognition to direct reports, managers can play a critical role in correcting knowledge gaps that might put the business at risk. This is especially important in compliance-driven industries like healthcare and financial services. Here’s what Cate Miller, Director, Talent Development at Cherry Bekaert has to say…
“Qstream has provided a way to track true compliance and ensure the critical information learned during these courses is retained over time and applied directly on the job. The heat map and reports in Qstream have been extremely valuable and not only show us completion rates but expose knowledge gaps that could put the business at risk. This enables us to coach our teams on the best practices for safely and securely handling client data so we can provide top-notch customer service.”
As workforces become more distributed, these insights can help managers and employees who might not work in an office together stay connected virtually. They can easily use the data to guide their one on ones to ensure performance goals are met and employees are on the path of success.
Want to learn more on how microlearning’s powerful analytics can be used to refine learning programs, coach employees and drive business success? Get your copy of our guide, Data Data Data!: Why Analytics are the Key to Better Learning.