Executive Network Advice Library

What Does it Take to be a Modern-Day Leader?

Today, as organisations prepare for growth the evidence from our round tables suggests an extraordinary opportunity for senior finance professionals to provide genuine leadership to this process.

Most of us can attribute at least some of our current success to guidance provided by an outstanding teacher, mentor or boss. And it probably isn’t too difficult to point to those individuals who were less-than-inspirational. What are the leadership skills that separate those who bring out the best in us from those who don’t? Here’s our advice for effectively managing employees.

1. Strike a positive tone. Anyone can be a leader, but a good leader creates an environment that makes people want to succeed. If you're asking people to do more with fewer resources - as many companies are these days - you need to make motivating employees a priority. A positive attitude is contagious. So, rather than groaning about additional demands placed on your staff, energise them by presenting the situation as simply another challenge to conquer - one that will ultimately lead to renewed respect and recognition for your department.

2. Play to your teams strengths, and thank them. Inspirational managers understand too that people respond to challenges in different ways. They instinctively know how to play to individual strengths, enabling everyone to make meaningful contributions. How can you coax someone to peak performance? Be lavish with praise when he or she does something well, showing that you value the extra effort and innovative ideas. And don't wait until the end of a gruelling project to thank your staff for a job well done. Encouragement at regular intervals along the way will keep employee motivation levels high.

3. Emphasise ethics.  An organisation's leaders are the keepers of its intangible assets such as ethics, trust and values. Therefore, they bear responsibility for setting the proper tone and establishing the company’s defining values and behaviours. Your staff will look to you to understand how ethical considerations figure into their day-to-day activities. You can provide guidance by discussing specific examples of dilemmas or scenarios you've encountered in your position, as well as situations they may face in carrying out their own responsibilities.

4. Be an advocate for your people. One of the most effective ways to demonstrate leadership and earn support from those you lead is to stand up for them. Do this by promoting their viewpoints, shielding them from the negative effects of office politics and defending them when they're unfairly criticised. Your actions will convey that you value and respect your employees, and the goodwill that results will enhance the work environment.

5. Make sure your words and actions are in sync. "Actions speak louder than words." It's a familiar adage, but one that rings especially true in a leadership context. Employees respect leaders who practice what they preach. Because employees look to higher-ups to ascertain what constitutes acceptable business conduct, it's essential for managers to exhibit the behaviours they want others to adopt. If you want your staff to honour deadlines and commitments, you must do so as well. If you continually promote the need for greater productivity, employees should also see a change in your work habits.

6. Be consistent. It's difficult for workers to perform at high levels if they don't know what position their boss will take on an issue from one week to the next. For instance, you wouldn't want to encourage employees to take ownership of one project, only to criticise them for taking initiative on a similar one. Instead, show employees a predictable pattern of behaviour that provides a steady point of reference from which to work. This gives them latitude to use their best judgment and to move projects forward without having to consult their supervisor at every turn.

7. Base decisions on values. Strategic business decisions should reflect your organisation's values and mission. Managers will find it easier to make choices and stick with them when they have a touchstone of this nature to guide them. In addition, employees will be better able to make independent decisions if they can clearly see how the organisation's core values correlate with business decisions.

8. Keep learning and growing professionally. Strong leaders continually pursue improvement for themselves and those they supervise. As mentors, they work with others to develop the competencies they need to succeed. And as individuals committed to personal and professional growth, they welcome feedback from those they lead about how they can be more effective. When leaders show that they're committed to self-improvement, they send a powerful message that staff members should also pursue development opportunities that enable them to increase their value as financial professionals.

9. Needing to lead. Especially in periods of economic uncertainty when many employees are feeling the effects of heavier workloads and increased stress, managers must be acutely aware of the importance of being good role models. Keep in mind that your actions - whether positive or negative - will always have greater resonance than your words. Therefore, it's in your best interest to set an example that you would be glad to have those you lead emulate.

10. Avoid the most common pitfalls. Download our guide, 30 Most Common Mistakes Managers Make and learn how to avoid these pitfalls.

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