I hope you had a wonderful weekend! It’s National Avocado Day! To honor the avocado, why not have some guacamole for breakfast?

LRPC’s Monday Morning Minute for this week, “The Difference Between Managers And Leaders” (presented below) comes to you courtesy of Ilya Pozin. As an independent, objective Registered Investment Advisory firm, Lawton Retirement Plan Consultants, LLC has access to research from many sources. Be assured that I will share enlightening, useful information with you each week.

We all need inspiration every now and then. Each month I like to share some words that I feel are uplifting. One of the interesting comments that the author shares below is that “…every leader may not be a manager, but every manager should be a leader.” Read on below to learn more.

Have a wonderful week!

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The Difference Between Managers And Leaders

 

By Ilya Pozin

It’s time to face the music as a manager: You don’t always have all of the right answers. Your “it’s my way or the highway” approach to management isn’t going to encourage anyone to help you in your problem-solving endeavors.

Managers and leaders are often referred to synonymously, but only leaders allow their employees to solve problems with their own insight. The truth of the matter is this: Every leader may not be a manager, but every manager should be a leader. It’s easy to see that leadership and management aren’t the same things, but a manager who lacks effective leadership traits will drive a business into the ground faster than you can count to 10.

Change doesn’t happen overnight when it comes to transforming managers into leaders. It takes time and energy to improve the way you manage and utilize more leadership characteristics on a daily basis.

Here are some tips to help you make the necessary improvements:

1. Managers give answers, leaders ask questions

There’s nothing certain to turn your employees against you faster than shouting orders at them. Why not spare yourself the impending resentment and simply ask your employees this: “What would you do?” or “What do you think of this idea?” Allowing people to participate in the decision-making process will not only transform what could have been an order into something more easily swallowed–it also inspires creativity, motivation, and autonomy.

2. Managers criticize mistakes, leaders call attention to mistakes indirectly

It may seem more efficient to point out your employees’ mistakes directly, but this will only leave them feeling embarrassed and frustrated. You should really be giving them the chance to learn and grow through your critiques. Instead, give your employees the chance to address their mistakes.

For example, say a project was sent to a client and you receive back a disgruntled message. Calmly ask your employee about the client’s concern and whether they feel what was provided was on par. This will give them a chance to provide their input, while also improving for the future.

3. Managers forget to praise, leaders reward even the smallest improvement

Praise pays off when it comes to increasing the overall success of your company. Finding time to recognize your employees for even the smallest accomplishment will only increase their interest in what they do. If you’re interested in ensuring your employees take pride in all that they do, regular feedback and recognition are certain to do the trick. Everyone wants to be genuinely appreciated for their efforts.

4. Managers focus on the bad, leaders emphasize the good

This really comes down to seeing the cup half empty or half full. If you’re only willing to point out the flaws of a project or an employee, you’re not giving them much interest in learning or improving. Instead, create a sandwich effect. Start with some form of praise, follow with the criticism, and end with praise.

5. Managers want credit, leaders credit their teams

Managers who lack leadership abilities are always first to take credit. But effective leaders understand the importance of crediting their teams for the big wins. This pays off in the long run by creating a workplace with a more positive company culture and employees who are driven toward more successes as a team.

True leadership isn’t attained through force, but rather by influence. Put these techniques in place to improve the way your employees perform.

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About LRPC’s Monday Morning Minute

Lawton Retirement Plan Consultants, LLC (LRPC) Monday Morning Minute is crafted to provide decision-makers with important information about the economy, investments and corporate retirement plans in a format that allows a reader to consume the information in less than 60 seconds. As an independent, objective investment adviser, LRPC has access to many sources of research and shares the best and most relevant information with its readers each week.

About Lawton Retirement Plan Consultants, LLC

Lawton Retirement Plan Consultants, LLC is a Milwaukee, Wisconsin-based independent, objective Registered Investment Adviser (RIA) providing investment advisory, fiduciary compliance, employee education, provider management and plan design services to retirement plan sponsors. The firm currently has contracts in place to provide consulting services on more than $400 million in plan assets. For more information, please contact Robert C. Lawton at (414) 828-4015 or bob@lawtonrpc.com or visit the firm’s website at http://www.lawtonrpc.com. Lawton Retirement Plan Consultants, LLC is a Wisconsin Registered Investment Adviser.

Important Disclosures

This information was developed as a general guide to educate plan sponsors and is not intended as authoritative guidance, tax, legal or investment advice. Each plan has unique requirements and you should consult your attorney or tax adviser for guidance on your specific situation. In no way does Lawton Retirement Plan Consultants, LLC assure that, by using the information provided, plan sponsor will be in compliance with ERISA regulations. Investors should carefully consider investment objectives, risks, charges and expenses. The statements in this publication are the opinions and beliefs of the commentator expressed when the commentary was made and are not intended to represent that person’s opinions and beliefs at any other time. The commentary does not necessarily reflect the opinion of Lawton Retirement Plan Consultants, LLC and should not be construed as recommendations or investment advice. Lawton Retirement Plan Consultants, LLC offers no tax, legal or accounting advice and any advice contained herein is not specific to any individual, entity or retirement plan, but rather general in nature and, therefore, should not be relied upon for specific investment situations. Lawton Retirement Plan Consultants, LLC is a Wisconsin Registered Investment Adviser and accepts clients outside of Wisconsin based upon applicable state registration regulations and the “de minimus” exception.