TOP 7 LEADERSHIP STYLES
Today, leadership matters more than ever, especially when dealing with millennials and Gen-Z employees. Past leadership styles may not resonate with today’s workforce, as this generation needs more than just job security, a steady paycheck, and benefits.
A good leader knows how to handle the team, align members to a unified goal, create a positive work culture, and, most importantly, inspire, motivate, and push the whole team toward a shared vision.
What is a Leadership Style?
Leadership style is how you lead and handle your team toward achieving your team’s needs while adhering to the right company culture. Figuring out the right leadership style based on the size and composition of the team, nature of work, and stage of the team’s development is crucial, or else people will leave the company to 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 enables 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. While it can be time-consuming, 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. They 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 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 a lack of job satisfaction.
5. Servant Leadership: Servant leaders 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 leaders are best for non-profits, 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. They adopt a hands-off approach, providing minimal direction and allowing team members to make decisions. Such leadership encourages independence, innovation, and high job satisfaction but can also result in a lack of direction and decreased productivity.
7. Charismatic Leadership: Charismatic leaders rely on their charm and persuasiveness to motivate their team. They often act as enthusiastic role models who can drive their team toward 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.