Marketing TOP 7 LEADERSHIP STYLES Leadership styles like Autocratic, Democratic, Transformational, and Servant impact team success. Choosing the right one depends on team needs, goals, and company culture. Ankitaa Mendhekar Dec 11, 2024 19:50 IST Today leadership matters more than before, especially when dealing with millennials and Gen-Z’s. Thus, past leadership styles won’t resonate most with today's employees cause this generation of workforce needs more than just job security, a steady paycheck, and benefits. A good leader will know how to handle the team, align members to a unified goal, create a good work culture, and most importantly inspire, motivate, and push the whole team to a shared vision. What’s a Leadership Style? Leadership style is how you lead and handle your team toward achieving your team’s needs while abiding by the right company culture. Figuring out the right leadership style as per the size and composition of the team, nature of work, and stage of the team’s development is very important, or else people will hop out of the company and find opportunities elsewhere. Time to choose your best-suited style: 1. Autocratic Leadership Autocratic leaders exercise absolute power and make solo decisions, without inviting much input from team members. They also expect compliance without questioning or ideas. Though such leadership exerts quick decision-making with inexperienced teammates, it may lead to high employee turnover and less creativity or room for innovation. 2. Democratic Leadership Democratic leaders encourage team input and consensus, value collaboration and collective decision-making, foster creativity and innovation, and boost team morale and engagement. It can be time-consuming, but it’s best for creative industries, teams of experts, and workplaces where collaboration is key to success. 3. Transformational Leadership Leaders who inspire and motivate their teams through a shared vision are ‘Transformational leaders’, the ones who focus on innovation and growth, and push their team to achieve higher levels of performance. This kind of leadership encourages employee motivation and engagement and also promotes personal and professional growth. 4. Transactional Leadership Transactional leadership focuses on structured tasks and rewards while establishing clear goals. It generally follows a system of rewards and punishments to manage employee performance. Though it's effective for achieving short-term goals, it tends to limit the scope for creativity and can lead to lack of job satisfaction. 5. Servant Leadership Servant leaders are those who prioritize the needs of their team members and focus more on their personal development and well-being. Such leadership builds high levels of trust and loyalty and promotes a positive work environment. These are best for non-profitable, educational institutions, and organizations that value employee development. 6. Laissez-Faire Leadership Laissez-faire leaders are best for teams with highly skilled and motivated professionals, creative fields, and research and development environments as they adopt a hands-off approach wherein, they provide minimal direction and allow team players to make decisions. Such leadership encourages independence, innovation, and high job satisfaction. It can also result in a lack of direction and decreased productivity. 7. Charismatic Leadership Charismatic leaders trust their charm and persuasiveness to motivate their team. They often act as enthusiastic role models who have the potential to drive their team towards a common goal. Such leaders are best for startups and target-oriented sales teams. Let’s Conclude: With the right leadership style, you can incorporate the best approach that suits different situations and become a more effective and inspiring leader. Remember leadership style depends on various factors like the nature of your team, the challenges and roadblocks, and your personal strengths. Read the Next Article