1. Lead, don’t micro-manage: Leaders must focus on mobilising their organisations and the talent within them to adapt quickly to changing circumstances. This includes liberating managers to get things done. Micromanagement, holding onto power, leads to huge internal inefficiency, and is currently plaguing the workplace. Letting go and delegating isn’t easy, but is fundamental to maximise productivity and quality control.
2. Be an admirable role model: Business leaders need to set the tone from the top by being appropriate role models. By exhibiting high levels of trust and collaborating with their peers, leaders can create high performing teams delivering extra value to the bottom line.
3. Create a challenging and supportive environment: Leaders need to make sure the business is “doing the right things, not just doing things in the right way”. This includes regular performance reporting and open discussions both to track progress and support managers throughout the business. Encouraging success is as important as minimising risk.
4. Inspire and communicate to your workforce: Communication is the most critical success factor in any business, especially in those going through change. Inspiring all colleagues, leaders need to actively look for high potential and encourage personal growth and success. Mentoring is a great way to bring out potential faster. Companies who do this will reap the rewards rapidly.
5. Grow the next generation of leaders: It is vital to build up the capabilities of people managers across business and this will in return improve the company’s operating performance. Leadership to get the best out of all staff is a business winning strategy, with a huge commercial prize.