James River Capital, a Virginia-based investment firm, shared on their blog a post listing 3 simple tips that can help leaders improve their approach when it comes to their leadership style. In order to lead and to manage the team effectively, the leader needs to posses great skill and it takes development to be able to pull it off. While it takes time to develop certain skills in order to become a great leader, there are simple changes that can make a big difference. Researchers conducted extensive studies trying to figure out what the most effective leadership strategies look like. Based on their studies, they outlined 3 simple changes that can help improve one’s leadership style. The 3 tips are supporting your team instead of leading it, encouraging as well as welcoming escalation, and the fact that everyone’s opinion matters. Learn more: https://www.cbinsights.com/investor/james-river-capital
One strategy that gets employed by the leaders at Facebook is supporting the team and not leading them. The simple one-word shift from “lead” to “support” can alter the way the leader sees their role and change their approach when it comes to interacting with their team. Despite the fact that it is a small change, it can make a critical mentality shift and have a big impact.
The second tip is encouraging as well as welcoming escalations. Studies that were conducted recently showed that around 85% of employees tend to withhold critical feedback from their leaders. Generally, if the employees feel like there is a risk of getting in trouble by going to leader with an issue, they would chose not to do it. Not having open and transparent communication will result in little room for collaboration, innovation, and engagement between leader and workers. Google discovered through their research the concept titled “psychological safety”, which is something leaders should focus on creating. The leader should ensure that people feel safe coming to them with problems, improvements, and/or challenges. In order to create psychological safety the leader should welcome and encourage escalation (and showing appreciation when it occurs), and make sure that during team meetings everyone gets to speak.
Following the idea that everyone should get the chance to speak in a team meeting, the leader should try to remove any obstacle, such as the obstacle of team members holding themselves back. During meetings, the leader should take notice when same people get to talk consistently, and to try to engage the members who tend to be quieter and ask for their input.
About James River Capital
The investment firm was founded in 1986 under the name KP Futures Management Corp, and was initially the alternative investment department of Kidder, Peabody & Co. James River became independent in 1995 when Paul Saunders and Kevin Brandt, the 2 senior officers of the department, purchased the business.
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