4 Management Secrets That Make Your Business Succeed

4 Management Secrets That Make Your Business Succeed

One of the essential factors when it comes to business success is quality management. So having the right person with the right skills set and experience on a managing position can literally make or break a company. According to Gallop, managers account for at least 70% of the variance in employee engagement scores across business units. Yet, companies tend to fail to choose the right candidate with the right talent for the manager job 82% of the time. And this, in return, leads to poor results and a visible lack of success.

Successful managers have their own tips and tricks to help propel a company forward even from it’s beginning and this article features some of them. So if you want to learn more on how to improve your management skills, continue reading.

Creating a productive work environment

This is the first, and probably the most important step. Building and fostering intrapersonal relationships with the people you work with is essential for creating a productive environment. Employees need to see their manager as trustworthy, caring, knowledgeable and decisive, someone they can rely on and get guidance from. In addition, they need them to help them understand their company and policies better so that they can engage more. Otherwise, the company hierarchy will crumble.

The importance of good employee management skills becomes even more evident if you look at the following numbers, in two large-scale studies in 2012 only 30% of U.S. employees were engaged at work, and just 13% worldwide. So a manager needs to be the one to motivate the employees, help them reach their full potential and provide them with all the necessary support so that they can up their performance thus improving the overall success of the company.

Having all the data

A good manager collects all the available data before making any type of decision. For any company operating on a global level, it is vital that the gathered information covers all the areas where the company has its interest. So if a company, for example, is based in Hong Kong, and at the same time has operations in the US and Europe, a manager needs to get data from all three locations in order to make an executive decision regarding any given subject.

Not only that, a manager also needs to know the current state of the company, so it would be a wise decision to opt for ESG reporting in Hong Kong in order to be able to estimate the future financial performance of the company, and to see where adjustments can be made as to improve the current state and attract more investors. Gathering data and knowing how to use the information you are provided with constitutes a large portion of a manager’s job description.

Following through

Good decision making and the ability to follow through are essential traits of a great manager. Any decision that you make needs to be backed by data and research so that there is little to no probability of failure. Next, it is essential that you as manager follow through on what you have said or decided. Giving up or failing will not reflect well on the company nor on you as a manager. And following through is only possible if you have a clear vision and execution plan.

Of course, you can adjust it a bit along the way but the goal should remain the same. This type of management helps build trust not only among your employees but with your clients as well. Seeing that your company delivers on what it has offered is a great way of building long-term partnerships with other companies and clients.

Investing in personal growth

In order for a manager to demand certain skills and knowledge from their employees, they also need to improve their own and to invest in their own education and skill improvement. One of the biggest dangers for managers is stagnancy, to get stuck in your ways and unwilling to bend and adapt to new and different working conditions that are dictated by the industry.

According to Liz Elting, co-CEO of business language services firm TransPerfect, “The biggest threat to a successful business is becoming static and losing a desire for innovation,”. This is something that is very true for both the business and the managers. And that is why investing in personal growth and knowledge-gain is so essential.

The lack of effort is usually blamed on the lack of time, but with the right organization there can always be a free slot for learning new things and engaging in new endeavors, all that is needed is a bit of willpower. Finally, a good manager understands that if they don’t work on getting better and keeping up with current trends both they themselves and their company are at risk of being run over by time and innovation leading the business industry.

So there you have it, the four essential management secrets to help you get your business to the top and help it stay there.

Bio:

Victor T. Miller, a Sydney-based business and marketing specialist who has expanded businesses over 5 years. I am a person who loves to inform people about the latest news in the marketing industry also as sharing tips and advice based on my professional experience and knowledge.

Victor Miller

Victor T. Miller, a Sydney-based business and marketing specialist and a regular contributor on Bizzmark blog. I am a person who loves to inform people about the latest news in the marketing industry also as sharing tips and advice based on my professional experience and knowledge.

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