Employees are often promoted into management roles because they have demonstrated stellar technical skills and success in meeting goals.
But when those promotions don’t include leadership development, managers may continue focusing on the hard skills and output that led to their success rather than adopting a vision for moving their organisation forward and inspiring buy-in from employees.
Understanding the difference between management and leadership is key to taking a workplace from good to great and cultivating new generations of leaders to keep the momentum going, says Prashanth Puthran, FCMA, CGMA, a finance leader in the pharmaceutical industry.
“I would define leadership as the ability to inspire and guide others toward a common vision, while management is the process of coordinating work activities to hit specific targets,” he said.
“Effective management is important for the smooth operation of any organisation, whilst leadership sets the direction and inspires others to follow.”
Puthran and other leadership experts outlined for FM strategies and approaches that can help managers develop the skills they need to become effective leaders.
Develop a leadership mindset
When you embrace your role as a leader, there is no limit to what you can do to create a strong, positive culture within an organisation, says London-based Anne-Marie Balfe, talent leader for EY’s financial services business across Europe, the Middle East, India, and Africa.
“It’s important to have a common vision and sense of purpose, to put strong governance in place that leads to clear accountability, and to encourage leadership skills in people whatever their level in the organisation,” she said. “And to encourage individuals at all levels to develop their own leadership skills.”
Strong leaders possess a growth mindset, built on the belief everyone can do better and be better, Balfe said.
“Leaders support and inspire others to be their best, and they do this by setting examples,” she said. “If leaders continuously challenge themselves to grow and meet the demands of change and increasing complexity, it will have a ripple effect on those around them.”
And for managers who aspire to leadership, Puthran advises starting by adopting the qualities they value in a leader.
“Hone soft skills like self-awareness, emotional intelligence, empathy, good listening, and effective communication, and then explore ways to instil those qualities in others,” he said.
Hold your team to task
Oftentimes, managers are more comfortable when they feel they are in control, and it can be hard to let go and delegate accountability to your team, says Mark Fritz, managing director at Procedor Limited, a leadership consultancy in London.
Controlling managers who take responsibility for their team’s misjudgements rather than give them the freedom to make mistakes and accept responsibility can be acting in a counterproductive way.
Micromanaging employees will also hamper their professional growth and erode their self-confidence.
“If you tightly manage everything, your team is neither improving nor working up to their full potential,” Fritz said. “Holding them accountable helps them learn from their mistakes in a safe space and keeps them from making the same mistakes in the future.”
Fritz suggests that rather than providing answers and solutions to problems, leaders should ask questions that guide their team to finding their own solutions, then give them credit for their successes. Being open to ideas from others will also build team members’ confidence and give them the courage to make their own decisions without the need for guidance.
“Over time, they will begin to view you as a leader and seek out your advice,” he said.
Build trusting relationships
Credibility and trust make up the foundation upon which strong and productive relationships are built, Puthran said, adding that when a team trusts you, they will be keen to follow your lead.
Trusting relationships are forged on authenticity and transparency.
“Authentic leaders who hold themselves to high standards and demonstrate the values and behaviours they wish to see in others are more likely to earn their team’s trust and respect,” he said.
Taking time to get to know everyone on a personal level, showing genuine concern for their wellbeing, and building rapport through mutual respect and understanding also goes a long way toward developing trusting relationships.
“Sharing who you are and what you stand for inspires people to believe in you and understand where you are coming from,” Puthran said. “And that motivates your team to bring their authentic selves to the workplace, too.”
Never stop honing your leadership skills
Leadership development is an ongoing process, Puthran said. “Always seek out education and training opportunities, don’t stop soliciting feedback, and remain open to new ideas and approaches.”
Remember, growth doesn’t stop when you’ve mastered the essential skillsets, and while there are numerous high-quality leadership skills courses available, to become a great leader, you need to combine knowledge with experience, Balfe said.
She advises aspiring leaders to keep an open mind and to embrace opportunities.
“Leverage your network and carve out time for professional development, both to improve your technical expertise and also to develop your leadership skills and mindset,” she said.
“There is a huge amount of value to be found in coaching, mentoring, requesting honest feedback, and truly stretching yourself,” Balfe added.
Teri Saylor is a freelance writer based in the US. To comment on this article or to suggest an idea for another article, contact Oliver Rowe at Oliver.Rowe@aicpa-cima.com.
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