27. Jan, 2019

7 Ways Poor Leaders are Costing Your Company Money

Most of the times organisations do not recognise how poor leaders affect their company. It is not tangible but they actually cost a lot of money.

See below 7 ways!

1. They don’t set clear goals with their people.


About 70 percent of people want to have goal-setting conversations
often or all the time, but only 36 percent actually do. When
managers aren’t skilled in setting goals that are specific, trackable,
relevant, attainable, and motivating, the result is multiple priorities,
unclear action steps, and poor line of sight on how work contributes
to larger objectives.
“All good performance begins with clear goals,” is a favorite
saying of best-selling business author Ken Blanchard. Blanchard’s
recommendation? Identify 3 to 5 key goals for each employee and
make sure they are written down. Goals that are written down are 18
percent more likely to be achieved. Writing down the goal also makes
it easier to review

2. They don’t align goals to team, departmental, and organizational objectives.


Only 14 percent of organizations report that their employees have
a good understanding of their company’s strategy and direction.
When people don’t know where their company is going, they can
end up working on projects that are out of step with organizational
objectives.
Make sure all team members are working on the highest-priority
tasks. Ask managers to check in and review priorities with
their people. Make sure the work is meaningful, on target, and
contributing to overall organizational goals

3. They don’t check in on progress.


More than 73 percent of people want to have goal-review
conversations often or all the time, but only 47 percent
actually do. And 26 percent say they rarely or never
discuss current goals and tasks.
What gets measured, gets managed.
Research conducted by Gail Matthews, professor of
psychology at Dominican University in California, found
that people who write down their goals, share them with
someone else, and have regular weekly check-ins are 30
percent more likely to achieve those goals than people
who do not.

4. They don’t provide feedback.


Research shows that 67 percent of people want to have performancefeedback
conversations often or all the time, but only 29 percent actually
do. And 36 percent say they rarely or never receive performance feedback.
Without feedback, people don’t have a way to make course corrections or
to know how they are doing until it’s late in the process. No one feels good
when work has to be redone because of a lack of feedback along the way.
According to executive coach Joanne Maynard, a few key attributes of good feedback are
• Focus on observable behaviors, not personality traits.
Feedback should be clear and directive and should focus on
concrete actions.
• Keep a positive end goal in mind. Paint a positive picture of
the desired outcome that gives people a vision to work toward.
• Offer to be an accountability partner. Change is hard. Offer to
provide appropriate direction and support as needed.

5. They don’t adjust their style based on the needs of the employee.


Nearly 54 percent of managers use the same style of
leadership for all people in all situations regardless of
whether a direct report is new to a task or already an
expert. Half the time, this results in a manager either
oversupervising or undersupervising.
The best managers tailor their management style to the
needs of their employees. For example, if an employee
is new to a task, a successful manager will use a highly
directive style with clearly set goals and deadlines. If an
employee is struggling with a task, the manager will use
equal measures of direction and support. If the employee is
an expert at a task, a manager will use a delegating style on
the current assignment and focus instead on coming up with
new challenges and future growth projects.

 

6. They don’t listen.


When The Ken Blanchard Companies asked 1,400 people the
question “What is the biggest mistake leaders make when
working with others?” 41 percent of respondents identified
inappropriate communication or poor listening.
Here’s a three-step model designed to help managers slow
down and focus on what people are sharing.
• Explore—ask open-ended questions such as, “Can you tell
me more about that?” or “How do you think that will go?” or
“What does that really mean?”
• Acknowledge—respond with comments such as, “You must
be feeling …” or “So, if I’m hearing you correctly, what you’re
saying is ….”
• Respond—now that you have a good understanding of the
direct report’s point of view, you can carefully move forward
with a possible response.

7. They don’t change (without training and support).


A majority of new managers—60 percent—underperform or fail
in their first assignments. Worse yet, as Harvard researcher Linda
Hill has found, managerial habits developed by new managers
often continue to hobble them for the rest of their careers. With
two million people stepping into their first managerial position each
year, it’s critical to get people the training they need.
Unfortunately, research by Zenger Folkman shows that most
managers don’t receive formal training until they are ten years
into their career!

 Does it sound familiar?

 

Good vibes.

Nieves- Personal, Corporate & Executive Coach

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