Extraordinary leaders, extraordinary returns22 Mar 2016
Leadership is sometimes seen as a homogenous quality, however there are a variety of different leadership types. Being able to hone your own style can be as easy as finding quality leadership training courses in locations like Melbourne.
Yet, being a great leader is not only achievable but can also have a much bigger impact on your organisation than if you settled with good leadership skills.
Returns improve as leadership improves
Research by Zenger Folkman has shown that extraordinary leaders will be able to return a profit in greater volume than a run-of-the-mill leader.
The research, derived from a large mortgage company, showed that leaders who were ranked in the top decile (90th to 99th) by their employees, peers and managers created two times as much revenue as those in the 11th to 89th percentiles.
The research emphasises the point that the difference between really great leaders and the rest of the pack is immense.
How to bridge the gap between a good leader and a great leader
According to neuroscientist and former intelligence officer Eric Haseltine PhD, the difference between a good leader and a great leader is not the size or volume of results but the way you achieve them.
In a 2015 article published by Psychology Today, Mr Haseltine gives the example of two different leaders. The first transformed a company that was on the brink of collapse, accomplishing three main changes:
- Saved a sinking ship
- Reorientated the company towards a profitable future
- Reorganised the management culture from the inside out
The second CEO is characterised by his constant search for improvement. He would pace the floor of his sparsely furnished office developing the ideas he jotted down while walking around one of his stores. The ideas aimed to drive up sales, revenue and productivity, and helped the company become one of the largest in the world.
So what’s the difference? The first CEO was Lou Gerstner of IBM and while the transformation he implemented led to amazing results, he did so after a change was needed for survival. On the other hand, the second CEO – Sam Walton of Walmart – continuously transformed the company, well before there was any need to do so.
Extraordinary leaders are never satisfied with the status quo, they constantly seek to improve and innovate on what already exists. But to accomplish this, managers and leaders need to be able to spot opportunities for improvement.
If you would like to learn more about the skills needed to become a great leader, make sure you talk to an experienced leadership training provider today.