Today's business world can be sink or swim, meaning it's imperative for leaders to pave the way to success for their companies. Though a great leader can come in many different shapes and forms, there are a number of qualities that you, as the boss, should strive to embody if you are to help your business perform well.
To learn some insight into becoming an inspiring and prosperous leader, as well as ways you can drive success in your business going forward, we spoke to Strategic Pay Manager Northern Consulting Michelle Gapes.
Leadership qualities and success
A good leader is the most important component of a smooth-running, profitable company. Without a capable captain at the helm, the business will lack direction, structure and culture, leading to employee dissatisfaction and unsustainable success.
"Without having the people behind you on the journey, you won't be able to achieve your overall objectives and strategies - you won't even meet your financial goals in most cases," Michelle explained.
What, then, are some examples of good qualities a leader can possess that will help him or her lead the company in the right direction?
It's important that leaders are confident in their abilities to make decisions that are in the best interest of the company. Exuding confidence, even if things aren't great, will boost morale on your team and inspire them to keep on keeping on. With that said, over-confidence can be detrimental; make sure to ask for help when you need it, rather than blindly surging ahead.
"A clear vision helps to shape and develop the structure and culture of an organisation. I think this is a leader's primary responsibility - setting what the expectations are and why this is the place to work," Michelle said.
"Once people understand that, they'll feel confident that they're able to help shape success and contribute in a valuable way to their role, team and ultimately the organisation."
Communication is a vital element of any size business.
If a leader lacks the communication skills to convey the strategy or goal of the business, performance will drop and even the most mundane bits of the day-to-day will grind to a halt. It's also a good idea to communicate important information to your team; employees like to know what's going on in the business, even if it's not the best news.
"I think as a leader, your ability to listen to other people is important. You won't necessarily have all the answers, and being able to listen to other's views and take them on board is critical," Michelle said.
When trying to motivate employees, leaders must prove that they are committed to the success of the business. You can achieve this by working with and not 'above' your employees, maintaining a positive attitude in the face of adversity and sticking to your promises.
Michelle noted that commitment is important in the remuneration arena as business leaders who are paying their team the right amount of money can command greater respect and build a culture of understanding and fairness.
How to communicate remuneration with confidence
Building a business starts with the employees, and ensuring they have the correct remuneration and reward balance is the beginning of this process.
"Across these 10-15 minute presentations, we help leaders work with their staff for a better understanding of their remuneration, how it should be set, what the bands look like and what they are trying to achieve."
For more information, take a look at our various courses, including Strategic Pay Academy, where you will learn how to structure, operate and execute the day-to-day activities of your business. Get in touch today!