According to Gallup, bad managers cost businesses billions each year, and account for at least 70% of variances in employee engagement scores. Having a highly successful business manager is crucial to the overall success of a company. The problem, however, is that not everyone knows what type of habits effective managers have. By being able to identify what those habits are, businesses can take action to find the right people to fill the position, and managers can boost their productivity and increase their efficiency.
“There is always room for improvement, no matter how great of a manager you are,” explains Leon Goren, president and chief executive officer of PEO Leadership. “The good news is that making those improvements can often be simple. It’s just a matter of taking the steps to make it happen, to incorporate new habits that will lead to better outcomes.”
When managers take action to create effective habits, they see positive results in the overall success of their business. Here are some of the habits of highly successful business managers and how to nurture them:
1. Delegation skills. Highly successful leaders know how to delegate, rather than trying to do everything on their own. It’s imperative to learn to trust the people on your team. If this is an issue for you, start by delegating small tasks and building on them. It’s also important that you have the right people in the right jobs.
2. Building a strong team. When hiring for your team, don’t just look at the candidate’s past experience and qualifications. Make sure that they are a good fit for your team and your overall corporate culture. Do they share the same values? Will they fit into your team’s unique dynamics? Do they understand what the expectations are? When you have the most qualified people – from both a fit and skills perspective, you will not only feel comfortable delegating tasks to them, you will also know they are working toward reaching your company goals. The right employees know how to work efficiently, are engaged, and exponentially help the company succeed.
3. Commitment to learning. The best managers never stop learning and understand that they will never know it all. They are committed to their development, they collaborate and bounce ideas off others, and they have mentors and join peer advisory boards to help them create robust and innovative solutions. These leaders continue to learn from others by discussing their challenges and opportunities and leveraging the knowledge and experience of their peers to help them grow. Joining a community like PEO Leadership, through their Senior Leadership Group, is a great investment in your personal, professional, and organizational growth.
4. Moving past fear. Being afraid to act can stifle management, which holds companies back. Highly successful leaders look to the future and are not afraid to take calculated risks. If this is something you are not comfortable with, consider engaging a leadership coach or joining a peer advisory board. Sharing your challenges and opportunities and getting feedback from multiple perspectives on your intended tactics, will enable you to apply the strategic advice to your plans and implement robust solutions. Having a mentor or successful peers review your plans will give you the confidence you need to carry them out.
5. Listening to others. Learn to actively listen to others. This is a skill that many people lack, even though it can be crucial to business success. Listen to your team, colleagues, mentors, etc. Listening doesn’t mean you have to heed their advice; nonetheless, hearing their thoughts, getting multiple perspectives and being an active listener, will help make you a more effective leader.
“It may seem overwhelming for someone to start laying the foundation to create numerous new habits all at once,” says Goren. “The best way to start is by selecting one thing to work on at a time. Once you have a good handle on it, move on to the next habit you’d like to incorporate. Before you know it, you will have many of these down, and it will be smooth sailing.”
PEO Leadership offers an executive leadership community that represents over 100 business leaders, successful entrepreneurs, and top executives. Its services include peer advisory boards, executive advisors/coaches, community connections, strategic business advice, an annual world-class leadership conference, and thought leadership events including PEO Leadership’s “The Way Forward” live webcast and podcast. The company is owned by Leon Goren, who has over 25 years of leadership experience.
PEO Leadership offers leadership advisory services in six categories, including for Presidents/C-suite executives of large national and multinational organizations, entrepreneurs of large national and multinational companies, global executives, small business entrepreneurs, senior executives, and businesses in transition.
About PEO Leadership
PEO Leadership is a Canadian peer-to-peer leadership advisory firm that has been the destination for business leaders to regularly meet and discuss important issues, solve problems and explore new opportunities since 1991. The organization provides a safe and highly confidential environment, with PEO Executive Advisors, who facilitate stimulating and astute dialogue to leverage the collective experience, creativity, intellect and wisdom of the Peer Advisory Board and the PEO Leadership Community at large. They support, cultivate and accelerate business leaders’ leadership excellence to achieve great impact through the organizations they lead, the communities they serve and the lives they live. Current members include Umbra, Miele, Crayola, ThinkOn and Nestle.