Welcome to The Ledger where we sum up the latest finance and accounting news and trends for you. On this week’s entry, we’re diving into the topic of hiring the right manager for your department. Read on to learn what the worst traits of a manager are, how to hire a manager for skill and not experience alone, how to retrain your leaders, and why you should promote your managers from within.
Before Hiring - How an Unbalanced Manager Can Impact His/Her Team
It’s easy to distinguish a good manager from a bad one. And while everyone has their bad days, a good manager knows how to balance several different elements at once. But what about a bad manager? Let’s take a look at a few toxic traits that can inhibit the morale of a team.
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Arrogance – this trait can kill the performance, motivation, and culture of a team.
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Selfishness – when a manager has an ego or personal agenda, it can quickly bring down the team.
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Insecurity – when a manager doubts their abilities, it can create a highly disruptive workplace.
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Micromanagement – this trait instills fear instead of respect.
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Lack Of Humanity And Respect – this trait hinders learning and creativity as well as increases employee burnout.
… and more. To explore all the traits of a bad manager, read the full article on Forbes.com.
Hiring a Manager For Potential And Not Just Job Experience
Imagine spending weeks trying to find the perfect candidate only to have them leave the job months later. The cycle is never ending and could be fueled by hiring the wrong way. In fact, according to a study by Leadership IQ, 46 percent of new hires will fail in less than 18 months. Most hiring managers focus on a candidate’s job history and nothing else – a tactic dubbed ‘plug and play’ hiring. So how can managers get it right the first time? By hiring for potential. Here are seven qualities to look for when finding that right candidate.
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Do they want to learn and grow in their career?
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Can they accept constructive feedback?
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Are they motivated to produce results?
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Are they open to new changes?
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Are they a team player?
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Do they mesh well with the company culture?
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Can they find ways to overcome challenges?
To learn more about how to make a successful hire, head over to AllBusiness.com.
How To Retrain Your Managers For The Better
A boss can be the deciding factor between an employee’s longevity or an employee’s departure. In recent CEO World survey found that 58 percent of workers would accept a lower salary if it meant working for a fantastic boss. And in a world full of uncertainty and chaos, you can’t afford to have a bad apple amongst your leadership. Moreover, the ‘Great Resignation’ is the result of toxic leadership (thanks to COVID). If you want to see your business succeed, you need to start from the beginning – retraining your leaders on what it means to be a great boss. Here are a few steps to take.
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Address the issue – communication is key.
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Make resources readily available – arm your leaders with the support they need.
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Set clear expectations and make sure your leaders follow through – make sure the goals are S.M.A.R.T goals.
To learn how to take the steps needed to reform underperforming managers, read the full article on CEOWorld.biz.
Why You Should Promote Managers Internally
Fostering a positive workplace culture stems from how well managers lead and delegate. But where do you find those unicorn managers? A Joblist survey showed that 56 percent of employees believed that promoting from within was better for morale. Moreover, Kevin Harrington, CEO of Joblist, said “Promoting managers from within the company is a great way to reward hard work and loyalty.” So what exactly makes a manager so… great?
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Listens to their team members
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Gives them meaningful feedback
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Doesn’t micromanage
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Fosters a positive work-life balance
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Is honest and trustworthy
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Has a positive attitude
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Supports their team members
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Has a clear vision for their team
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Displays strong leadership and decision-making skills
To explore – in-depth – how hiring a great manager from within is a sure-fire way to boost your company’s bottom line, read the full article on Forbes.com.
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