London (UK), September 2011 - "It will be too expensive." "Far too disruptive!" "We don't have the time." These are probably the top three excuses training professionals come up against when trying to make the case against learning and development programmes. But the answer to all of them is "Well, how much time and money will you waste, and how much disruption will you experience by doing nothing?"
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Failing to invest in leadership development costs companies millions each year. It has a negative impact on employee retention, customer satisfaction, and employee productivity. A free online "Cost of Doing Nothing" calculator hosted by The Ken Blanchard Companies can quantify the cost for individual organisations and identify the difference best-practice leadership can make.
Blanchard's calculator takes into account the costs of covering vacant positions, finding replacement employees, and getting new hires up to speed. Organisations that have already used the calculator have found they are losing an amount equivalent to seven percent of total annual sales by not optimising leadership practice, and that they can avoid between 9% and 32% of voluntary staff turnover through leadership-skills training.
