Insight: a leader’s best investment

I have lived with my wife for over 20 years. So we both have a pretty good read on each other.

In the same way the more time leaders spend with employees, the more they learn about them. Connection becomes easier. Our joint experience builds knowledge and awareness that enables us to bond. We can use the insight to help predict situations and ensure our conversations are on point. This increases our impact, helps us achieve more and builds our confidence as a communicator.

Insights as an investment

Benjamin Franklin said that “an investment in knowledge always pays the best interest.” That is why over US$47bn is spent on market research each year by companies. It enables them to connect and build relationships with their customers.

I wonder how much time and effort most leaders invest in learning about employees?

Time with your team is a leaders market research. The insights help to maximise your impact. They help you hit the mark in your communication and leadership. Time with your team enables you to inspire and unite others in your quest.

Benjamin Franklin was right. Investing time learning about employees helps us engage more easily.

My advice? Reach out and spend time with employees. Learn about your peeps. They want to want to know more about you too. I guarantee it.

Here are some insights into why the best companies invest in leader communication capability. Helping their leaders improve how they communicate has significant returns.

It costs 2.5 times their salary to replace an employee that leaves the team.

Managers that hold regular team meetings are 3 times more likely to have engaged employees in the team.

Work groups with high engagement have 22% higher profits, 21% higher productivity. 65% lower turnover and 10% higher customer ratings. 

Companies with high engagement earn 2.6 x higher per share levels than low engagement companies. 

Organisations in the bottom quartile of engagement scores experience 41% higher turnover.