James River Capital Corp was founded back in 1986 under the name KP Futures Management Corp in Richmond, Virginia. The firm originally served as Kidder, Peabody & Co’s alternative investment department, but eventually became an independent firm back in 1995 when the two senior officers in the department, Kevin Brandt and Paul Saunders, bought the business from Kidder when the firm was acquired by Paine Webber. As of 2018, the firm had under its management in James River products more than $570 million. Learn more: https://www.levo.com/paul-saunders
Recently, the firm shared on its blog an article which points out to 3 changes that one should make in order to improve their leadership style. Leadership is a science as well as an art, and it takes skill and development in order for one to lead and manage their team effectively. Despite the fact that it takes effort and time in order to become a great leader, there are changes that one can make to their approach, which can prove to make a big difference. Researchers for a number of companies have conducted studies in order to figure out what the most effective strategies of leadership look like. Their research came up with 3 simple changes which can improve one’s leadership style: supporting the team and not leading them, encouraging and welcoming escalation, and the fact that everyone’s opinion matters.
The leaders at Facebook use the strategy which starts with making a critical mentality shift. Instead of leading their teams, the managers at Facebook choose to support them instead. This simple change can alter how one views their role as a leader and also change their approach when it comes to interacting with their team.
Studies made recently showed that approximately 85% of employees are withholding critical feedback from their bosses. Usually, if workers feel like they would get in trouble if they come to the leader with an issue, they would not do it. As a result, without having a transparent and open communication, there will be no room for collaboration, engagement with employees, and innovation. Google discovered through research the concept of “psychological safety”, something that leader should focus on creating. What the concept means is that the way the leader operates ensures that employees feel safe when coming to the manager with challenges, improvements, or problems. One can create psychological by making sure everyone gets to speak during meeting and by encouraging escalation.
The last of the three suggestions is for the leader to remove the obstacle of employees holding themselves back. There are a few methods that the leader can employ order to ensure their team members get to speak up, such as trying to engage the quieter members of the team and ask for their input. Follow James River Capital on LinkedIn