Forget the great resignation: The great leadership debt is what will impact businesses
Too many of our leaders are avoiding confrontation and direct communication with staff, causing a massive leadership vacuum in Australian businesses, writes Travis Thomas, leadership expert and Managing Director of Team Buffalo.
This ‘leadership debt’ isn’t a small problem – it’s restricting Australian business and hampering the next generation of leaders.
The most common problem? Failing to address problems within the business as they arise, avoiding direct and difficult conversations. Whenever the conflict or tough conversation is avoided, it creates a ‘leadership debt’.
What is a leadership debt?
Every avoided conversation, every problem left to simmer makes a small withdrawal on the effectiveness of your leadership and the respect you’re afforded as a leader.
Much like a credit card, the more withdrawals you make, the more the debt grows -and the more interest it accrues – until it becomes unmanageable and your effectiveness as a leader is unsalvageable.
It’s not just leaders that have to cope with that debt – companies inherit it too.
The impact of leadership debt
Poor leadership will ultimately lead to low employee morale. It not only slows productivity but also increases the companies rate of staff turnover and ultimately comes at a cost to the business.
In a time of record-low unemployment, it has never been easier for disengaged employees to leave workplaces where things never change.
Five qualities that demonstrate strong leadership in business include:
Consistent communication
Ad-hoc dialogues and mixed messages makes staff uneasy and creates an uncertain environment. While it’s the most important skill for leaders to have, it’s also by far the most common weakness.
Spot fires are better than bushfires
Too many leaders in Australia avoid confrontation or hope issues will go away. Having the courage to air, tackle and resolve your concerns is of huge benefit to everyone and demands respect.
Avoid sugar coating, jargon and corporate-speak
Have the difficult conversation and don’t use euphemisms, jargon or corporate-speak to soften the blow if you have difficult news to convey.
Have empathy
Leaders in the post-pandemic work environment need to consider how their team’s needs may have changed, particularly over the last two years. As work and personal lives have merged, there’s a new dialogue of childcare, school pick-ups and marital issues taking place in the hybrid office and leaders need to embrace this reality.
Prioritise flexibility
Rolling out incentive schemes like flexible working arrangements, better resources for remote working and career progression plans will improve morale and do more to retain a skilled workforce than a salary increase.
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