Three Winning Management Styles

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A study by Gallop found that 82% of organizations believe they’d chosen the wrong manager. A large portion of readers will have been at the mercy of a manager wrongly selected for the role. Another study that looked at U.S employees found that 89% of them think the relationship they have with their manager directly impacts their quality of life. Interestingly in the same study, only 24% of employees said they loved their company.

 

But it’s not necessarily the company they’re out of love with; it’s the people managing them. Different management styles get different results, but the end goal should be to foster excellent working relationships and overall employee happiness. Below, we’ll look at three of the best.

The Visionary Manager

The visionary manager might also like to be called a motivator, transformative, or charismatic. The visionary manager is the fun manager that will stop at nothing to bring their vision to life. You wouldn’t typically see this type of manager involved in the day-to-day management of employees – they’ll be working on the behind-the-scenes processes to elevate the entire business but also focusing on alignment and engagement between employees and their vision.

 

A positive to this management style is it gets everyone on the same page and working towards one goal. The negative of this management style is a lack of focus on details and the potential for a one-sided viewpoint.

The Transactional Manager

The transactional management style is perhaps one of the best because it focuses on reward, and it’s simple logic that you’re more inclined to work harder if you know there’s an additional reward at the end. Almost 97% of U.S organizations have a reward program in place, but only 37% believe they cater to all employees. To resolve that, brands like Incentive Smart have created inclusive employee engagement programs that cater to all – https://www.incentivesmart.com/employee-engagement.

 

A rewards program not only fosters productivity and a positive working environment, 88% of

employees believe they will work harder and for longer for a company that rewards them correctly. A high staff turnover is costly – replacing an employee can cost one-half to two times more than the employee’s annual salary, and a simple rewards program can prevent that.

The Pacesetting Manager

The pacesetter has the potential to be a great manager but also one that expects too much. A pacesetting manager is the pack leader that provides instructions and sets the pace for the rest of the team. Providing that pace isn’t unreasonable; it can be a highly effective management style that shows strong leadership and guidance. Getting it wrong with unrealistic goals and working pace – could lead to a lack of productivity and resentment.

 

This management style works well if you have a strong team and typically works the best with one big project with short-term goals. The Harvard Business School published a report that said businesses should avoid the use of stretch goals. Short-term goals are better for productivity. When considering a disengaged employee costs a company $3,400 in lost productivity for every $10,000 in salary, it’s worth considering a pacesetting management style with short-term goals to focus on.

 

These three management styles are winning management styles when implemented correctly. Circling back to 87% of managers not being the right choice for the role, it often depends on the person using them and how they interact with employees. Each management style needs to be tailored towards the needs of the company and the employees.