This is sad when you look at the bottom line and stupid when you do nothing about. The responsibilities and demands are more difficult. It should go without saying that those businesses that do a good job selecting, training and developing their managers will enjoy higher productivity and lower turnover. The two go hand in hand. Soft skills reign supreme and are critical for success.
Most businesses do a miserable job selecting and training their managers.
Many management development programs focus entirely on technical aspects of the job and not people skills. Some managers are tyrants and make life miserable for those they are supposed to lead. It is people skills that make the difference. I am sympathetic to the plight of people who get selected to become new managers. These are good people.