What is Your Leadership Style?
The Leadership Style of a manager significantly weighs on a firm’s performance.
A study conducted across half a million firms showed that the top 10% of high-performing firms had managers and founders that scored in the top 20% in leadership effectiveness. In contrast, the companies that scored in the bottom 10% had leaders score in the bottom 30% of leadership effectiveness.
Therefore, a company needs to evaluate its managers’ leadership effectiveness. For that, it is vital to understand the styles of Leadership. While there are several styles often discussed in this blog, we shall focus on two broad types that all leaders can we classified as Reactive Leadership & the Creative Leader.
What are Leadership Styles?
A leadership style refers to a leader’s approach when managing people/teams reporting to them.
Leadership styles determine how managers execute the path to achieving the company objectives while meeting stakeholder expectations and the team’s well-being.
A study by Daniel Coleman analyzed 3,000 managers, and they found that the Leadership style directly impacted 30% of the company’s profits.
Effective leaders inspire, delegate, empower and develop their direct reports.
Leaders fall into one of two categories based on their leadership style — Reactive or the Creative Leaders.
The mindset of reactive leaders is to preserve their position and maintain a tight grasp on their power, the business success in employee retention may suffer. On the other hand, the Creative leaders are more likely to support the development of those around them, improving engagement, communication, and collaboration, leading to higher retention and productivity, which, in turn, benefits the company’s bottom line.
To know what is the Right Leadership Style to Adopt, Read More on Reactive vs Creative Leadership.
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