Why building better bosses is key to success in uncertain times

Recruiting may have cooled off a bit heading into the second half of 2022, but make no mistake: the workplace revolution is far from over.

This "revolution" is driven by the Great Resignation, which Vistage more aptly calls the Great Upgrading, as workers at all levels seek to increase their job responsibilities, incomes and, perhaps -be the most above all, the experience.

In this period of increased economic uncertainty and anticipated turbulence, hiring remains a major challenge for companies. Sixty-five percent of small and medium-sized business CEOs say hiring challenges impact their ability to operate at full capacity, according to a recent study by Vistage. The shining light is that business leaders who focus on retention, in addition to hiring efforts, are prepared to future-proof their organization to weather any storms to come.

The power of the boss

Bosses, those leaders who manage workers, have the most direct impact on an employee's day-to-day experience and, therefore, on their retention. They define roles, set goals, support expectations, evaluate performance, and foster career trajectories in a company. They are also a vector of corporate culture, responsible for setting the tone of the organization, communicating workplace standards and keeping tabs on employee satisfaction.

As the old euphemism goes, "People don't leave companies, they leave bosses." Today's bosses are under more pressure than ever to understand the changing desires of their employees in the workplace and help bring them to fruition.

And yet, very few organizations have actually invested in the development of bosses. Most managers are promoted in their roles to be good workers, without receiving the training they need to become effective managers. Therefore, they learn through failure and mistakes. When CEOs are trying to drive retention and create an engaging employee experience, they better focus on their frontline leadership team.

The increasingly difficult role of the boss

No one has been more transformed by the workplace revolution than the boss. The “MF95” model (Monday-Friday 9am-5pm) of yesterday is long gone when employees looked to their managers for more than budgets and monthly quotas. Today, employees are looking for leaders who can make the connection between the contribution of their daily tasks to the team, the company and the rest of the world, as well as coaches who can help them develop their skills.< /p>

In addition to the expanded work responsibilities of bosses, they are now expected to also manage employees who work from home or are fully remote and/or alternate hours. This requires a total reinvention of processes, from embracing new ways to track performance (as opposed to who is spending the most time at their desk) to figuring out ways to replicate the same culture for remote, hybrid, and at the office.

In many cases, bosses are even required to determine and maintain the right mix of in-person and home-based activities for individual contributors. For example, junior staff may see more benefit from being in the office three times a week, where they can learn from mentors and get a better sense of the culture. It's the job of bosses to find the right fit for each member of their team and ensure it fits into the larger mandates of their organization.

Build a better boss

CEOs and business leaders must empower their frontline managers and bosses with entirely new capabilities to spread company culture and amplify productivity in the hybrid/digital workplace of 'today. While a CEO can name the culture, it's the boss's responsibility to bring it to the forefront. Likewise, while a CEO can prove...