HOW LEADERS GET MORE OUT OF THEIR TEAM THAN MANAGERS

HOW LEADERS GET MORE OUT OF THEIR TEAM THAN MANAGERS

BY MARTY MCCARTHY, CPA, CCIFP, MANAGING PARTNER | MCCARTHY & COMPANY, PC

For any business to not only survive but also grow and remain profitable, its team must master crucial skills in management and leadership: skills that will differentiate an organization when economic and interpersonal crises occur. Such circumstances will produce the most innovative and influential leaders from within.

In Leadership or Management. Which is more Important? Brigette Hyacinth (LinkedIn. June 30, 2017) describes being a leader as a role and a manager as a job. Managers excel in figuring out the best way to control their team to complete tasks. Leaders, on the other hand, inspire people to do the tasks. Managers rely on control; leaders rely on trust. Leaders command respect. Managers demand it.

Hyacinth claims that leaders help organizations and people to grow while managers work to make processes more efficient and effective. In addition, leaders breed loyalty, dedication, and accountability because they inspire, motivate, and influence their teams.

Leadership requires the ability to influence a group toward the achievement of goals. Management focuses on the bottom line. A leader is interested in followers—the people who will deliver the process that leads to the bottom line.

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LEADERS ENCOURAGE LEARNING

One of the most important components of motivation is the process by which people learn. When people learn to achieve a specific goal, they experience positive reinforcement. They can see the steps leading up to the achievement, which makes the process more rewarding. Motivation is an important tool in business because it improves performance, promotes selfdiscipline, and enhances a person's self-esteem.

Effective leaders demonstrate curiosity and a desire to learn— their eagerness to learn signals to their team that they are not omniscient, are open to new ideas, and okay with making changes.

LEADERSHIP DRIVES HIGH PERFORMANCE.

High-performing teams consist of employees with complementary skills who collaborate and promote a culture of innovation. Leadership is essential to achieving these objectives.

Gallup found in its 2022 report, “State of the Global Workplace,” that at least 70% of the variance in team engagement is explained by the quality of the manager or leader. Team leaders influence workers to apply their strengths to perform exceptionally, give team members recognition for great work, and hold ongoing conversations to coach their employees. Leaders inspire employees to make their best and highest contribution to the company.

To shift a team to a high-performance status, leaders must be able to set clear objectives and achieve them while allowing their team to reach their individual goals.

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LEADERSHIP ENCOURAGES INNOVATION

To drive innovation, leaders must create an environment where new ideas can thrive and flourish. This means providing resources, encouragement, and an environment that welcomes risk-taking. Leaders should be willing to tolerate failure as a necessary part of innovation. Innovation does not happen overnight, so leaders must be patient and daring in pursuing new ideas.

An innovative leader understands how to step back from the initiative and let others present their insights. Innovation is about getting the best out of people. So, when a team member comes up with an idea, the leader should acknowledge it and reward them for their contribution.

Leaders can set financial and behavioral goals for staff members to encourage innovation. Some examples include setting a target for the potential revenue of new ideas and requiring that a certain percentage of revenue be derived from them. Others may want to encourage staff to innovate by rewarding them with increased responsibilities and promotions. This way, they can create a culture of creativity within the organization. However, a leader's approach must consider the organization's current policies and strategies.

LEADERS TAKE AND CONTROL RISKS.

Good leaders understand that risks are associated with certain choices and will embrace different opinions and perspectives. This allows them to make more informed and wise decisions. Innovation comes from taking chances, failing, and eventually finding success. A leader takes risks because they recognize that failure can be an opportunity. A manager, on the other hand, works to avoid risk and control problems.

It is difficult to assess the outcome of an innovative project in the short term, and there is no certainty that it will succeed. Nevertheless, a highly innovative leader must be willing to coach his team members through the process and remove the fear of failure. Creative teams learn from their mistakes and use them as their greatest strength. If failure is feared in an organization, people will no longer be willing to take risks and introduce fresh ideas.

You must win your employees’ hearts and minds if you want buy-in and commitment. Leaders inspire employees to want to come to work early on Monday morning. Managers need to be better coaches and listeners so their team won’t want to leave precisely at 5:00pm. Leaders get more out of their people because they trust them to do their jobs.

Disclaimer: This article is for informational purposes only and doesn’t constitute professional advice.

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