TODAY’S NEWS. TOMORROW’S INSIGHTS.A daily newsletter from McKinsey & Company
Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities
Leadership programs that work. Companies pour billions of dollars into leadership development initiatives each year. While such programs can boost the effectiveness of leaders by fostering personal growth, many fall short of delivering meaningful results. Providing leaders with ample opportunity for self-reflection is one aspect of a more effective program. Time for reflection can help workers cultivate a clear sense of purpose, which often leads to greater engagement and effectiveness. [HBR]
Meaningful appreciation. Year-end staff parties, milestone gifts, company-branded swag: organizational leaders understand that appreciating employees is crucial to engaging them, fostering a positive workplace, and inspiring loyalty. But according to a new global survey of more than 36,000 workers, roughly four in ten said that the thanks they receive in the workplace comes across as an empty gesture. Delivering verbal appreciation during regular meetings and giving kudos in front of leaders could help create a culture of appreciation. [Fortune]
How effective leaders behave. Leaders enable groups of people to work together to accomplish what each couldn’t do individually. According to McKinsey analysis of academic literature and a survey of 189,000 people in 81 organizations around the world, four types of behavior account for 89% of leadership effectiveness. These are being supportive, operating with a strong orientation on results, seeking different perspectives, and solving problems effectively, explain McKinsey senior partner Ramesh Srinivasan and colleagues.
Beyond command and control. In the past, leadership emphasized providing technical expertise and direction in a traditional industrial economy command-and-control organization. While traditional management was once revolutionary, it doesn’t guarantee happy or loyal workers. It’s more effective for leaders to operate in service of the people whom they lead. This often means focusing on how to make team members’ lives easier. See five key shifts that today’s leaders are making to enhance both team performance and satisfaction.
— Edited by Belinda Yu, editor, Atlanta
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