How to be a better leader and reap the rewards
Unless you’re a one-person operation, you need to consider one thing that many CEOs don’t think about nearly often enough that can make or break your business.
How are you leadership skills?
Being a good leader means more than waving the company flag and patting people on the back with a “good job” at the end of the day. Great leadership has tangible results that calculate to dollars and success for your business.
Some benefits of great leadership within a company
- Reduced employee turnover, which means less dollars and time wasted training new employees
- Greater productivity – You get more out of engaged employees for the same amount of money
- Employee buy-in – Great leadership creates loyalty that can save your sinking ship in tough times, when extra inspiration to succeed needs to kick in at all levels of your organization
- Lower rates of theft and loss
- Fewer sick days for employees
- More synchronization and fewer redundancies in company communications/workflow
- Better reputation – People talk. Though employees know better than to tell clients about poor leadership, they are very willing to expound upon the virtues of a well-run company they believe in.
What makes a good leader?
Great leaders have the ability to keep their team motivated, focused and productive in their day-to-day work. They know how to bring out their employees’ best qualities and use them for their strengths, all while encouraging progress toward becoming even better.
How to become a better leader
Great leaders are made, not born. So if you’re worried your leadership skills may not be up to snuff, don’t panic. Here are some things you can do to improve your leadership and reap the rewards.
1. Get in the trenches
Your employees will appreciate your willingness to lend a hand at their lower-level positions, and you’ll gain more respect for what they do and why they are important to your organization in the process. Nothing inspires a team more than seeing the CEO taking out the trash.
2. Hire people that are better than you. Then brag about it.
Humility is a great tool both personally and professionally. It’s one of the best ways to get people “on your side.” And, as a bonus, you’ve got a lot of brilliant, capable people working for you, which is always good for business.
3. Admit when you screw up
One of the worst traits of a poor leader is the inability to admit fault. If you make a mistake, admit it and frame it as one of Thomas Edison’s 10,000 ways not to make a lightbulb. Seeing you give yourself the latitude to make a mistake will de-stress your workforce and increase productivity. Fear of failure is a total creativity killer.
4. Be quick with compliments and slow with criticism
It sounds like coddling, but it’s not. It’s common human decency for common humans. Encouragement builds the motivation people need to do their best every day. If you must criticize, condemn the behavior, not the person.
5. Don’t micromanage
You hire your employees to do their jobs. Let them. Employees that are micromanaged feel resentful and unappreciated by the lack of autonomy. Plus, you’re wasting money. If you’re going to do someone else’s job, just fire them and do it yourself.
6. Share the love
Whether it’s landing a big account or hitting a sales goal, personally thank your team members when your company hits a milestone. Even better, specifically let them know how their contribution helped attain the goal.
7. Get to know your employees
You may think your employees work for your company, but they see it as working for you. Cultivating a personal relationship with your employees can be as simple as remembering their kid’s names or knowing they like to windsurf. Make the effort to get to know them, and you’ll see their loyalty to your brand increase.
8. Set the right example
Never forget that you set the example for every other person in your company. If you complain constantly, pawn your responsibilities off on others, or act as if certain tasks are beneath you, so will they. Exude confidence, positivity and focus, and they will too.
9. Give your employees the tools they need to grow
Keep your employees engaged and energized by providing them constant opportunities to grow. Not everyone wants to climb the corporate ladder, but every single person on your team will get burnt out doing the same thing the same way for years on end.
10. Earn their trust
Whatever you lose in life, trust is the most impossible thing to regain. If your employees don’t trust you, you’re going to have a hard time getting them to do anything else. Act ethically and with integrity at all times, and call out your employees who do not. Dishonorable behavior spreads like a virus and can bring your whole company down, so never exemplify it, and nip any that you see from others in the bud fast.
About Capital Solutions Bancorp
Capital Solutions Bancorp provides working capital funding to businesses just like yours every day. If your company needs working capital to grow, or if you’d like to have a backup plan in place for unexpected expenses, call Capital Solutions Bancorp today at 800-499-6179 or visit us online at www.capitalsolutionsbancorp.com.