Here’s how to identity your best strategy.
When thinking about different leadership approaches, the first thing to do it distinguish between a newer business that is expecting high growth because of new technology and markets, or an older businesses where the growth is equal to GDP, explains Emotional Intelligence courses chief executive, coach and lead presenter Chris Golis.
“For the first type, you need a democratic style and typically the leader has to be technically adept. For slow growth businesses where the processes are well understood, an authoritarian, paternalistic style is often the most successful, despite what the HR experts say,” says Golis.
“However, in either case, the leader must be seen as fair, trustworthy and willing to put the business above him or herself at all times.”
Understand yourself to hire the correct personalities
Before the hiring process, you need to understand your own core emotions, says Golis, in addition to being aware of the latest recruitment trends that might benefit your business.
“We tend to like those who are like ourselves and hire accordingly. This reduces the diversity in the business, which is dangerous, particularly in an environment of constant change,” says Golis.
“Instead, hire people who complement your strengths and look at the world differently. Having a profiling system such as the Humm-Wadsworth model is a great tool for achieving this goal.”
Encourage and motivate by example
By being the example of discipline and greater drive, a leader sets the standard and in doing so encourages others to raise the bar.
“The only thing more contagious than enthusiasm is the lack of it,” says Golis. “Leaders need to have energy, which means being the first to arrive at the office and being the last to leave.”
That being said you can lead by example with actions that might be seen as unrelated to the business, such communicating openly with staff or acting with humility.
Cash control is absolutely critical
The most useful tools for a leader to posses can be whittled down to two: a miner’s light that is worn on your head to help you look for new opportunities; and the taximeter that counts every dollar spent by the business, says Golis.
Keep your staff on the same page
“Best practice is to have regular weekly meetings where you review the week and set objectives for the next week. Then every quarter have a review of your three strategic objectives,” says Golis.
“Secondly, develop readily understandable KPIs for your business, which you can graph for all the team to see. For example, at Neverfail [a global software company that provides disaster recovery and data protection solutions to financial, legal and government organisations] it was the number of coolers installed weekly, at Facebook it was the number of members [as shown in the film The Social Network].”
These weekly updates can become one of several useful tools for reinforcing motivation, he says.