Effective leadership is more critical than ever in today’s rapidly changing business landscape. Companies that invest in leadership development programs are more likely to achieve long-term success by cultivating a culture of innovation, growth, and engagement. Individuals and organizations can achieve tremendous success by understanding the importance of leadership and developing the necessary leadership skills.
Leadership has a significant impact on the development and success of a company in several ways:
Strategic vision
Leaders are responsible for setting the strategic direction of the company. They must anticipate trends and changes in the market and adjust the company’s strategy accordingly. A strong leader can help a company stay competitive and adapt to changing circumstances.
Organizational culture
Leaders play a key role in shaping the culture of a company. They set the tone for acceptable behavior and prioritized values. When leaders focus on transparency, communication, and a positive work environment, it can create a culture that fosters collaboration and innovation.
Financial performance
Effective leadership can have a direct impact on a company’s financial performance. When leaders prioritize efficiency, innovation, and growth, it can increase revenue, profitability, and shareholder value.
Employee engagement
Influential leaders can engage and encourage employees, increasing job satisfaction, productivity, and retention. When employees are invested in their work and feel supported by the management, they are likely to perform at their best and contribute to the company’s success.
The global analytics and advice company Gallup published the State of the Global Workplace: 2022 Report. This research showed that employees’ engagement and well-being remain stable but could be better. Accordingly to the survey results, only 21% of employees are engaged at work, and 33% thrived in their overall well-being. Gallup summarises that low engagement costs the global economy $7.8 trillion. In other words, it is 11% of the GDP globally.
When it comes to job dissatisfaction, the employees name reasons, such as not finding their work meaningful for the company, not thinking their lives are going well, or not feeling hopeful about their future.
Knowing these reasons can equip leaders to make intentional decisions on improving their employees’ life and engaging them in work.
We have prepared for you a six-question quiz. Answer it, and you will find out what team leader type you are.
1. The paramount quality of a leader is the ability:
a) to inspire and motivate
b) to communicate and negotiate
c) to transfer knowledge and think outside the box
2. Are leaders born or made?
a) Both options are possible
b) Being a good leader is an innate quality
c) One can develop leadership skills
3. How do you feel about conflicts in the team?
a) I try to avoid any conflicts
b) I can initiate a conflict to sort out the issue
c) I consider this a necessary condition for the team’s growth
4. How do you usually make difficult decisions?
a) I solve problems by discussing them with the team
b) I make decisions on my own and take full responsibility
c) I invite the team to come up with three options and choose the most effective one
5. In your opinion, is feedback important to employees?
a) I prefer positive feedback; it is crucial to notice when a job is well-done
b) Yes, to talk about what needs to get fixed
c) Any feedback is the key to healthy team relationships
6. How often do you show empathy at work?
a) I always show it and grow it within the team
b) Not frequently, because this quality has no place in business
c) I do it sometimes to understand my teammates better
Now, let’s look at your results.
🔹 If option A prevails in your answers, then the Mastermind features are closest to you. You know how to set strategic goals and involve the team in achieving them. You are good at inspiring and showing empathy. You see the strengths of the employee and know how to highlight them. You know how important feedback is for employees and share it regularly and with pleasure.
🔹If you choose answer B in most cases, you are an excellent Manager who knows how to get the desired result promptly. You can negotiate, be purposeful, not fear conflicts, and manage roles within the team. You always have a plan of action for different cases and take responsibility for the entire team.
🔹If option C is more appealing to you, then you strive to be a Mentor in the team. You are open-minded, share everything you know, and you can listen to and hear everyone. You are an example for your team and are ready to lead. At the same time, the last word always remains with the team because you do not seek to decide something for them but give them the right to choose.
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Becoming a stronger leader
If you’re looking to improve your leadership skills, it’s crucial to understand your strengths and weaknesses as a leader and work on developing your competencies. Here is some advice that may help you strengthen your leadership style and become more confident and effective in this role.
Mastermind Leadership:
- Continue to focus on inspiring and showing empathy to your team, but also work on being more approachable and open to employee feedback.
- Consider implementing more collaborative decision-making processes to involve the team in strategic planning and goal-setting.
- Use your strengths to mentor and develop other potential leaders within the team so that they can also contribute to the team’s success.
Managerial Leadership:
- While being goal-oriented and efficient is essential, focus on building solid relationships with employees and creating a positive team culture.
- Work on your communication skills to clearly articulate expectations and provide feedback.
- Consider delegating more responsibility to individual team members, so they can develop their skills and get a sense of ownership over their work.
Mentor Leadership:
- Continue to be an example for the team and work on sharing your knowledge and expertise with others.
- While it is important to listen to and consider the opinions of others, also recognize that sometimes it may be necessary to make decisions for the good of the team or the organization.
- Focus on creating a continuous learning and development culture, which can help empower employees and build a stronger team.
Combining Methods for flexible leadership
If you didn’t find the predominant answer, then your type of leadership is combined. So you can show different qualities depending on the situation, which makes your team management style more flexible.
Some experts conclude that the leader’s ability to combine approaches depending on the situation is the core factor in successful communication with each team member.
Flexibility is a quality that good leaders strive to develop and constantly practice. According to research by The Ken Blanchard Companies,
- 54% of leaders typically use only one leadership style;
- 25% apply two leadership styles;
- 21% combine three and more leadership styles.
To increase the flexibility of your leadership, look at your management style from a different angle.
1. Realize that a one-size-fits-all approach needs to be revised. Adapt your management style to the employee’s needs according to their competencies and task familiarity.
2. List goals and objectives and schedule meetings to determine their current implementation level and engagement with the process.
3. Agree on the most appropriate leadership and interaction style: the employee needs support, direction, feedback, or – even better – a combination of methods. Conduct brief reviews every three months to determine progress and the need for adjustments.
Leadership culture in our company
Constantly moving forward, Glorium provides employees with a variety of development opportunities. We pay great attention to the culture of leadership and prioritize nurturing leaders within teams. We encourage and implement employee requests for education and training to improve hard and soft skills.
Also, each team member has a mentor and people partner to receive comprehensive support and assistance. Our corporate culture aims to create a motivating and friendly environment for teamwork and communication.
Explore our benefits for your growth and get to know our company better.
