Focused on the skill that impacts business the most - Relationship-Building
Let's face it. The best leaders all do one thing exceptionally well. It may elude you at first glance, but watching them in action - especially in really difficult situations - it becomes crystal clear.
They are brilliant relationship-builders!
According to research by the Economist the greatest challenges to running a successful global company over the next three years are:
o Understanding customers in multiple markets
o Managing teams effectively across borders
o Finding high-quality people in multiple territories
These challenges are shared by leaders in companies regardless of location, reach or size.
40% of those who are responsible for tackling these challenges are turning over in their jobs within the first 18 months (Manchester Associates and Center for Creative Leadership), costing organizations upwards of $3 Mil per executive.
To be successful in maneuvering through and above those challenges, leaders today need to be well-practiced in the one skill that can help them gain market share and remain competitive in the global or domestic marketplace: the skill to build partnerships with peers, supervisors, direct reports, customers and vendors. Guess what though? According to the Center for Creative Leadership, 82% of respondents to a survey on critical leadership skills said failure in this skill is one of the primary reasons that executives fail in their jobs! Furthermore, studies by Lominger found that of the five best predictors of promotion for managers and executives, three of them were the same reasons for getting fired!
Boss and peer relationships,
Comfort around higher management,
Approachability
So what does this all mean?
Well, now more than ever, leaders must be able to demonstrate empathy, clarity of communication and fair decision-making in order to build, sustain and inspire morale and productivity in the workplace. Practicing such skill not only has demonstrated impact on people’s performance on the job, but changes the life of the leader, and those surrounding him/her in their personal life, as well.
World and regional events continue to illustrate clearly how the contagion of emotions affects the decision-making abilities of so many. In buying decisions, employee retention, executive development, Board member selection, and team performance, relationship-building and interpersonal skills are critical for effectively managing the elements that can cause breakdowns and loss of profitability and competitiveness to occur.
If you are looking for a solution that would not only be cost-effective, but offer high value in terms of competitive positioning, market share, gross margins and return on investment, consider talking with us or reviewing some of our services.
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