You possess three primary assets that have contributed to your rise as a leader: your track record, your extensive industry knowledge, and your years of experience working with your clients.
This is the positive aspect.
The negative aspect? None of these three qualities will answer the question of how to become a great leader.
And this is a significant problem because organizations with top-notch leaders are 13 times more likely to surpass their rivals in key financial performance metrics, customer engagement, and customer satisfaction, as per a survey conducted by Development Dimensions International.
So, what will elevate you from a poor leader to a team hero? In my 25 years of coaching and instructing the world’s finest teams, I have identified five common flaws that all inadequate leaders share. Here are those flaws and how to avoid them:
1. Absence of Trust in Leadership
Successful leadership necessitates trust on all levels. Most leaders have not established what I refer to as “high trust” with their teams. Trust is the most valuable currency in business, and its importance is growing daily. Your top priority as a leader is to cultivate an atmosphere of utmost trust.
Starting with yourself, a ripple effect of trust extends to the farthest corners of your organization and its repercussions. Evaluate your business’s level of trust by posing these questions:
- Do you have faith in your team?
- Does your team have faith in you?
- Does your team have faith in each other?
- Do your customers have faith in your team?
- Does your team have faith in your customers?
- Do your customers’ customers have faith in you?
Regrettably, many leaders lack this aspect of trust-building in effective leadership. In fact, a survey conducted by Age Wave with Harris Interactive found that only 36 percent of employees believe their leaders act with honesty and integrity. Additionally, the 2017 Edelman Trust Barometer revealed that trust in CEOs has plummeted to an unprecedented low of 37 percent.
How can you determine if your team trusts you? They will have confidence in your business’s vision. Leadership involves instilling belief in your people in something before instructing them on what to do. This type of front-running leadership necessitates trust. Identify the gaps in your organization’s trust level and rectify them.
2. Authority Trumping Leadership Competence
One of the top attributes of successful leaders is genuine leadership prowess. Not industry knowledge or tenure, but actual competency in guiding people.
Most ineffectual leaders are “leading” from a standpoint of authority rather than competence. How can you determine if this applies to you? There are a couple of indications.
Firstly, poor leaders lack a mentor or a leadership development plan. By relying on a title to compel people to follow you, you heighten the risks of demoralizing individuals, derailing a project, thwarting an initiative, and ultimately harming the company. It’s time to dedicate time to learning how to become an outstanding leader.
Secondly, you might be hesitant to admit your shortcomings. Insecure leaders feign and masquerade, whereas confident leaders are open and vulnerable. We all have areas of weakness. Your vulnerabilities indicate someone else’s responsibility. The moment you veer away from your core competency, your effectiveness diminishes, and the entire organization suffers. When you disclose to your team your weakest points, these weaknesses will not be reflected in the organization any longer. Concentrating on your strengths and maintaining your position in that sweet spot is where the greatest impact occurs.
Companies with low levels of employee engagement experience a 33 percent yearly drop in operating income and an 11 percent annual reduction in growth, as per the 2007 Global Workforce Study.
You cannot always rely on your company to offer the necessary leadership development. In fact, 83 percent of organizations acknowledge the importance of nurturing leaders at all levels, yet only 5 percent have fully implemented development at every level. Formulate a personal leadership development plan for yourself, either solo or with the guidance of a mentor, to enhance your strengths and exhibit your best leadership qualities.
3. Insufficient Emotional Bond with Your Team
Often, I observe a dearth of emotional connection with teams being blamed on leadership style. If you lack a deep emotional connection with your followers, you are overlooking a crucial leadership trait.
Prompting anyone to take physical action necessitates an emotional connection. Connection influences adoption, utilization, and success outcomes. Disregarding it in favor of a detached or distant management style is unfeasible.
Your primary task as a leader is to make an impact. The impact you have on your team is crucial to their ability to perform at peak levels.
In a 2017 research study, Gallup found that 70 percent of the contrast between bad, good, and exceptional cultures can be ascribed to the knowledge, skills, and talent of the team leader.
Let’s not delude ourselves: Your influence on your team is either advancing your company or impeding its progress.
The initial step is understanding what inspires and motivates your team. What drives them to perform and what sustains their consistency? What motivates their actions? What is their why?
Foster a connection with your team. Scale back on promotions and heighten emotions. You can instruct people all day long on what needs to be done, but if you fail to connect it to their personal gains and the potential outcomes, their compliance will be short-lived.
4. Leadership Neglecting to Invest in People
Building a thriving team entails dedicating resources, time, and attention. Assisting others in achieving victory is the most crucial brand decision you can make.
At one of our executive leadership training sessions this year, I inquired of a roomful of top leaders if they had a plan in place to aid their personnel in attaining their long-term professional aspirations. Less than 3 percent of those present raised their hand.
Recall the initial trait we discussed? It’s trust. People only follow you if they trust that by doing so, they are likely to enjoy a brighter future. Invest in your team’s emotional, physical, intellectual, and professional well-being.
To accomplish this effectively, you must pinpoint the objectives of each individual. Clearly ascertain where someone wants to go, what their aspirations are, and why they are eager to achieve them. Once you grasp their driving forces, collaborate with them to formulate a personalized development plan.
If you fear losing talent by aiding them in realizing their career goals, you are mistaken. A study conducted by Career Builder revealed that 37 percent of employees depart due to poor leadership. Additionally, a survey by Globoforce found that 38 percent are actively seeking alternative employment.
Prevent the exodus by purposefully engaging in business planning and then focusing on yielding results. Regularly collaborate on best practices and envisage ongoing training as a way of life.
5. Leadership Failing to Commemorate Victories
Many of us fondly recall a time when a team leader recognized our achievements and made us feel valued. Whether it was your initial victory or your fiftieth, lousy leaders tend to overlook celebrating their teams’ successes.
This attribute of effective leadership is one of the most underestimated actions you can take to not only boost morale but also enhance performance. A 2015 Harvard Business Review survey revealed that 77 percent of employees would put in extra effort in exchange for greater recognition, and 39 percent feel unappreciated in their workplace.
Elevate your team’s self-worth. Amplify their confidence and watch their accomplishments soar. Whether you introduce a tradition of a “winning lane” or offer rewards for accomplishing milestones, make a habit of frequently and loudly showcasing your team’s victories.
Even if you are experiencing challenges in one or more of these areas, learning how to be an exceptional leader is attainable. Begin now by identifying the most urgent areas that require improvement.
