Profit is the ultimate aim of any business. But the way you achieve those profits vary from business to business and boss to boss. Some believe in extracting as much work as possible from the resources while others like to take things easy, moving slowly towards success.
According to a recent study by Baylor University researchers found that profit-obsessed bosses could turn out to be harmful to their business as they lose the respect of their employees when they are completely focused on only making money.
The study, “The Influence of Supervisor Bottom-Line Mentality and Employee Bottom-Line Mentality on Leader-Member Exchange and Subsequent Employee Performance,” was published in the journal Human Relations. It surveyed 866 people, 50% of it were the supervisors and the rest were the employees. The researchers measured the relationship between them on the basis of factors like Bottom Line Mentality (BLM) of supervisors, employees, task performance, and the ratings employees gave their relationships with their supervisors.
The statements from the employees like “My supervisor treats the bottom line as more important than anything else,” or “My supervisor cares more about profits than his/her employees’ well-being.” were recorded and scaled.
Based on the response collected, the researches concluded that bosses who are extremely money minded end up being rude and disrespectful towards their employees which leads to loss of profits long term.
“Supervisors who focus only on profits to the exclusion of caring about other important outcomes, such as employee well-being or environmental or ethical concerns, turn out to be detrimental to employees,” said lead researcher Matthew Quade, Ph.D., assistant professor of management in Baylor University’s Hankamer School of Business, said in a statement.
“This results in relationships that are marked by distrust, dissatisfaction and lack of affection for the supervisor. And ultimately, that leads to employees who are less likely to complete tasks at a high level and less likely to go above and beyond the call of duty,” he added.
Hence, prove, the way to massive profits is a healthy and friendly working environment rather than a rude and robotic one!