5 Productive Leadership Styles
Being a leader is not a walk in the park. Strong leadership is what can take your business to new heights or what can make it sink deep into failure. It is something worth taking a look at more closely.
Your leadership style may be the same most of the time. But it can also vary, depending on your business, or the project you're working on, or the task at hand. Although in insurance, you might not have projects per se, you will always have goals to work toward, which are inherently considered projects. Some projects might require a stronger, autocratic style, while others can benefit from a free-rein type of leadership. Not every method is beneficial, though. Here are some of the most effective.
Coaching Leadership
If your team takes care of business on their own, but feel the freedom to approach and consult you when things get tough, the coaching leadership style is what you need. When help is needed, you essentially fill in the role of a coach, helping your team jump over the hurdle and get things done.
Teamwork Leadership
One of the great things about teamwork leadership is that when you create a team and promote a teamwork culture, the team members begin to work together cohesively. They'll learn to take advantage of each other's strengths, learn from each other's mistakes, and use their creativity to come up with suitable solutions. This style is best used when looking for process optimization or when working on a project that requires a quick turnaround. What you find works for one project could be replicated in others.
Participatory Leadership
Participatory leadership is about learning to coordinate the efforts and contributions of different groups to meet a particular goal or task. The leader will take time to explain to their team about what they do and how it fits into the bigger picture. Team members have the freedom to contribute to the decision-making process.
Free-Rein Leadership
With new staff, you are required to oversee their work regularly. However, once your staff has reached a certain point of maturity, where they do things on their own and have the motivation to do it right, the free-rein leadership style will suit you well.
Autocratic Leadership
This style is completely the opposite of free-rein leadership. When your staff isn't ready to take ownership of their tasks, and still need plenty of guidance to complete them successfully, the manager will be the one in charge of providing specific direction at all times, making all the decisions. Autocratic leadership also comes in handy when you're working on projects that have a very tight schedule with many people involved.
As the owner of an independent insurance agency, what leadership style do you think fits you the best?