Why Leadership Style is Important?
Oct 01, 2024
Today I want to talk to you about why leadership style is so critical in developing high-performing teams and a key to dramatically increasing your business's bottom line productivity.
I want to firstly point out that this isn't just some coach on the internet saying you should care. According to a recent Gallop poll, the leadership style of the individual manager accounts for up to 70% of the difference in employee motivation and productivity. That's huge!
Have any of you ever worked for a manager where you didn't quite give it your all or had a direct report that didn’t quite give you their all? Can you just imagine what your team being 70% more productive would look like? That could mean what is taking a 5-day work week to accomplish gets done in only 3.5 days. How much would your team appreciate potentially getting an extra day with their families or an extra day to work on hitting a bonus?
I'm not sure about you, but if I could work for that boss or hire that employee, I would.
The 5 Main Leadership Styles
There are five main leadership styles, and you will naturally fall into one of them. But we need you to work efficiently and better understand all styles so that you can meet the needs of your team members and have them reach their full potential. Let's quickly cover what these styles are:
Leadership Style 1: Transformational Leader
Think of this as a DJ. A transformational leader is like a DJ spinning uplifting tunes about the future, getting the crowd or the team pumped up and united behind a higher purpose.
Leadership Style 2: Transactional Leader
This leader is like a sports coach, setting clear rules, giving high fives and penalties depending on how well players perform. They reward good work and bench the slackers.
Leadership Style 3: Servant Leader
This leader acts like a butler, attending to teammates' basic needs and assisting their development. They put others first and derive satisfaction from helping teammates meet and excel in their goals.
Leadership Style 4: Democratic Leader
This leader gathers input like a kindergarten teacher before class decisions. They build consensus through discussion and majority votes, getting everyone on board.
Leadership Style 5: Laissez-Faire Leader
This leader is like a cool parent, giving teammates the freedom to choose their own adventure, offering little guidance beyond funding and transportation.
3 Reasons to Consider Your Team's Needs
Reason 1
You can't convince others to work harder until you figure out how and why you work harder. You can't lead others until you understand yourself.
Reason 2
It helps you get the most out of your strengths and limitations, leveraging your strengths for maximum effect and to achieve the highest level of team performance.
Reason 3
Leadership isn’t one size fits all. It's about matching and being flexible to meet the styles of your team members.
How Does Leadership Style Affect Your Bottom Line?
Effective leaders increase team productivity and morale while decreasing turnover and burnout. You can develop high-performing teams that attract and retain top talent. Remember the words of Marcus Buckingham: “People leave bosses, not companies.”
To uncover your leadership style, check out this video on how to best find out which natural style of leadership is yours.
I'll see you there!
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