A lot of skill and development is needed to manage a team effectively in the areas of art and science. Time and focused effort will make you a great leader but a few changes to the approach can make a huge difference. Several companies such as James River Capital have had researchers conduct studies to determine the most effective strategies for leadership and there are three changes that were revealed to improve the style of leadership.
Support, Don’t Lead Your Team
A critical shift in mentality is one of the strategies being implemented in companies when it comes to leadership. The shift from leading to supporting not only changes the way roles are viewed but changes the interactions with the team. Changing a single word can have a large impact.
Studies have shown that critical feedback from employees is withheld by approximately 85 percent of employees. People will not go to their employer with an issue if they believe they will get into trouble by doing so. There is no room for engagement, collaboration or innovation when communication is not transparent and open.
A feeling of safety is important when it comes to focusing on creating by leaders. People should feel safe going to superiors with improvements, challenges and problems. Showing appreciation when concerns and escalation happen is a way to encourage a safe environment. Everyone should have the opportunity to speak when the team meets.
All Opinions Matter
Supporting the team means that you remove obstacles that are holding them back. A list of everyone in attendance at meetings will allow you to check them off as they speak ensuring everyone had a chance to be heard. Attempt to engage the quieter members of the team without being pushy so they feel comfortable sharing. The team at James River Capital is putting this into practice to help grow the company and better serve its clients.
James River Capital
James River Capital is an investment advisory company offering a vast range of services in the financial industry. Founder and CEO Paul Saunders currently holds several positions and has an extensive financial background. Learn more: https://www.linkedin.com/company/james-river-capital-corp/