A company’s greatest weapon is not in the structure and the production capacities but the affluent and effective leadership and management. There is always a dire need for a core team that has experienced and street-smart employees and a leader who has his/her presence along with the flair of leading the team itself. Although the concept of leadership sounds easy, involving the handling and overseeing the tasks of the team/teams under them but there is much more to it than meets the eye.
People often feel getting a higher education gets them a managerial position but that is partly true as higher education makes one eligible for the designation but that does not make them suitable or the perfect candidate for the responsibility.
Leadership styles and traits are often not heard or talked about even them being a crucial prerequisite for a managerial position. Leadership is not limited to personal qualities and human behaviour but also many types of leadership styles make a lot more impact in the company, leadership and turn the productivity of the company as they are varied and provide a feasible type for the specific industry or as per the nature of the company’s profile and work.
Let’s go through some fantastic information about Leadership Styles:
1. Transformational leadership
The first leadership style is Transformational leadership which involves inspiring the staff through effective communications, collaboration, making this one of the most effective leadership styles. Transformational Leaders have Setting challenging targets, higher expectations requiring managers who are very attentive to details and have a very open-minded approach and thinking.
2. Democratic leadership
The next is Democratic leadership, also known as participative leadership. It is also highly effective in which leaders ask help and ask for collaboration from their subordinates. This leadership amounts to higher job satisfaction and company benefits from the creativity of all the individuals but the process of decision making is slower as more than one individual is involved.
3. Laissez-faire leadership
Laissez-faire leadership means ‘let it be’ and as the name suggests the leader allows the employees to make decisions as this style involves hands-off approach often criticized for the same as it marks a red mark on the definition of managers. This style is limited to jobs in the creative field as it requires experienced employees but active monitoring and effective communication from the leader’s end is a must to get the most from this leadership style.
4. Transactional leadership
Transactional leadership deals with establishing a clear chain of command, going ahead with a stick and carrot approach. Employees are clarified of what is expected from them, i.e. their performance, they are explained how to meet the expectations and deliver maximum performance and then rewards are allocated based on the targets or the objectives of the meeting.
5. Autocratic leadership
Autocratic leadership involves the complete control of the leader, where he/she rarely takes views and suggestions of the subordinates or employees. This style is not appreciated as it can cause a high turnover and habitual non presence of employees. Moreover, this style decreases coordination and also removes any flexibility in the line of work.
6. Strategic leadership
Strategic leadership requires a leader who is the highest authority in the company as he/she is not confined to one part of the company. The leader deals with a wider audience at all levels, carving a high-performance team and environment in the company. This style is not only effective but one of the most desirable styles of leadership.
No matter what style one picks or creates his/her style, the most intrinsic trait about being a leader is to understand that he/she is not the head but a team player. Team player is the most necessary skill to be a leader, also one needs to be mentally and emotionally prepared as being a leader involves higher responsibility and answerability. Thus, one needs to be sure if he/she wants to be a leader or not as everyone has their value and place in a company.