Managers matter. They have a huge impact on the bottom line and employee engagement.
Engaged employees are up to 202% more productive because they use discretionary effort to go above and beyond their normal job requirements without being asked to do so.
Only 24% of staff are engaged in their work, 76% are disengaged. According to research from Gallup, managers account for up to 70% of this variation in engagement. And 50% of employees quit their job to “get away from their manager”.
The Talent Gap
Organisations are ﬁnding it increasingly tough to identify and attract quality leadership talent. Linked In examined the extent of this problem in Australia and New Zealand and found whilst the majority of organisations struggle to ﬁll leadership roles, turnover of these roles is less of a concern.
A deﬁcit of soft skills is seen as the most common quality lacking in leadership candidates and organisations are looking at their own internal future leadership candidates to build those soft skills.
Linked In’s Key Findings
- 69% of ANZ HR decision-makers say that it’s difﬁcult to ﬁll leadership positions
- 63% are pessimistic about the hiring outlook for leaders over the next ﬁve years
- The number one reason organisations ﬁnd it hard to recruit leaders is the candidate’s lack of soft skills and leadership competencies. The difﬁculty reﬂects the complexity of modern leadership roles.
- A majority see inadequate leadership is having a negative impact on employee engagement and collaboration. Of particular concern, 40% say there has been a large detrimental reduction in innovation in their organisation.
- Organisations need to shift their thinking on leadership – how to ﬁnd, develop, and inspire leaders. Succession planning is the most commonly adopted and successful strategy, however, more than 35% of organisations have no leadership pipeline or development plan
The Ideal Leader
Research from Gallup, Deloitte and Google’s Project Oxygen found that great leaders have these eight qualities:
- They’re a good coach
- They empower their team and don’t micromanage
- They express interest in their team members’ success and personal well-being
- They’re productive and results-oriented
- They’re a good communicator
- They help with career development
- They have a clear vision and strategy for the team
- They have key technical skills that help them advise the team
Organisations need to help emerging leaders master their strengths so they are free to take action with confidence, clarity and impact. To take the mystery out of managing people and help them bring out the best in their teams.
Effective leaders help their people create a collaborative culture that is relaxed, resilient and productive.