Ever wonder what a simple workplace conflict costs an organization in dollars? How about a more commonly messy one? Let’s do the math.
According to research conducted by the Mediation Training Institue, a simple feud between two department managers for three short months – a relatively MINOR, and not atypical, conflict scenario – can have almost $300,000 in hidden costs:
Even if you disagree with some of these estimates, you’re still looking at more than ONE MILLION DOLLARS in hidden costs and inefficiencies, per year, PER CONFLICT! That’s $1,000,000/year/conflict.
Stop and think about what that means for a moment.
An enormous amount of management time, often estimated at 25 to 40 percent, is spent addressing employee conflict. That’s one to two days every week.
More on Improving Your Conflict Competence.
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If you think a brief conversation about your leadership development needs – or those of others in your organization – could be useful, call or connect to coordinate calendars.
If you think a brief conversation about your leadership development needs – or those of others in your organization – could be useful, call or connect to coordinate calendars.
"Improve your skills. Find your voice. Build your reputation. Make good things happen sooner."
- Barry Zweibel, MCC-Master Certified Coach and Mentor