Master Management: A blog series of ideas discovering better Management principles!
The Only Formula You Need to Master Management
Many people joke about having a parenting handbook to take on the challenges of raising children. One of the best-selling books of all time has been about a book to help people find their purpose.
People are looking for a formula that will help them handle the delicate balance of life, and we have discovered the formula that will help you become a great manager in any industry — and a great leader in all parts of your life.
The heart of being a manager lies in one simple formula:
The combination of Effective Management: of self + people + results = Management synergy a win-win for organisation and employees!
Over the course of this blog series, you’ll learn how to adequately and efficiently work with each variable to build and lead a dynamic team.
Breaking it Down: Understand the Managerial Formula
Improving managerial skills is becoming a growing focus for many businesses as a result in the past few years, companies have increased spending on corporate training, with leadership development a top priority.
One report showed that 35 percent of the $130 billion spent worldwide and $70 billion spent in the U.S. was dedicated to management and leadership.
As companies grow, they are more likely to dedicate funds toward improving one of the most challenging variables in the formula: leaders and people.
Efficient management of Self
Learning to manage yourself is the most important thing you can do as a manager and the starting point of any good manager hence some have called self-management a “fundamental requirement for empowering both people and organisational success in the knowledge economy.”
Self-management on both a personal and professional level is vital for becoming a great manager. By learning how to manage yourself, you become better at managing the resources on your team.
If you want to become a great manager, there is one important skill that you should start to develop: appreciation
A study by the Harvard Business Review found that in a long-term care setting, employees who “perceive greater affection and caring from their colleagues perform better.”
Managers who want to see their teams perform better should start from the top, creating an emotional culture that puts people first.
For them to do so, it’s important to develop a set of personal rules and guidelines that you’ll follow. These guidelines help you to connect with team members on an emotional level while still maintaining a managerial leadership role.
Start by thinking about how you would like for a manager to treat you? Most people don’t want to be led by someone who is forceful, yells, or easily angered. Do you like to work for micro-managers, disorganised or unreliable leaders, or a boss who pushes and drives employees by using fear, punishment, or manipulation tactics? More than likely, the answer is no.
None of those traits helps to develop a positive emotional environment for employees. Managing yourself to create that environment and work culture requires rules and guidelines that put people first.
- Training others to become good managers
- Helping employees develop excellent work and life skills
- Encouraging growth and positive accomplishment
- Treating people fairly
- Starting with self-analyzation and introspection that generates a change in your work habits and personal behaviour.
*The next master management post will go into detail regarding managing yourself, sign-up to receive it straight to your inbox.
Effective Management of People
Creating a positive, people-first environment is just one of the many pieces of training companies paid for to help turn good managers into great managers — in growing numbers.
In 2015, companies spent an average of $1,252 per employee on direct learning programs; the financial investment was “accompanied by learners receiving more learning hours and efficient distribution of content and offerings across workforces.”
These expenses are more than just sending managers for advanced training, but also managers sending employees for advanced training.
On any team, you’ll find introverts and extroverts, planners and procrastinators, worriers and people who are even-keeled in any situation. Also, people’s moods and motivation can shift on a daily, or even hourly, basis.
Recognising and accommodating these challenges is one of the biggest components of a manager’s day, especially when handling delicate and challenging situations.
- Discussing performance issues with employees. Many managers have had sleepless nights when it comes to figuring out how to work with employees who aren’t working out.
- Having to terminate an employee. Not every position is the best fit for every person, and a great manager can discern when something isn’t working out for both the employee and the company. This comes with letting go of employees who aren’t following protocol or a company that has to go through layoffs.
- Hiring employees. Getting the right employee in the position from the get-go is one of the best ways a great manager will put together a stellar team. A good manager keeps the team operating; a great manager can gauge a person’s personality and work style to find someone who fits seamlessly in with the existing team and department.
- Mediating between team members or, even worse, between your team and your boss. As a manager, you’re responsible for ensuring your team collaborates and works well with each other. A great manager can help to identify and address both personal or professional conflicts as well as approaching any issues that might come from higher-ups with wisdom and respect.
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Effective Management of Results
While managing results seems like it might be a challenge, it’s one that a great manager should be ready to take on. As managers learn to manage themselves and their teams better, they find that they have better control and management over the results produced by their teams.
Good results don’t just come from the work being done by the team; they originate from the efficient use of all of the resources available to your team.
It all boils down to one rule for success: take care of yourself, and your team and your team will take care of the results.
- Time management helps you to appropriately and efficiently schedule work. Companies that overwork their employees are more likely to experience employee burnout, frustration, anger, and irritation. As a result, the work that’s completed isn’t always up to par. Clients might return incorrectly assembled pieces, request reworks, or even pull accounts when they aren’t happy with the results. When managers take care of their employees, though, they find that they are happier, more creative, and more likely to pour more of themselves into producing quality work.
- Resource management is key when it comes to upgrading and purchasing computers, machines, software, and other pieces that are necessary for getting the job done. A manager who cares about the quality of the work produced will also care about the tools the employees have at their disposal. Employees who don’t have the equipment they need for their job will experience the same frustration and burnout as employees who are overworked and feeling stress.
- Information management is the third part of the equation in managing results. This means understanding the basics of business: marketing, strategic plans, and proper financing and budget allocations. You’ll set your team up for success with proper marketing by appropriately determining the place, price, and promotion strategy for your products. A great manager includes the opinions of team members when thinking about the long-term goals of the team and the ways the team will accomplish the goals, and a manager includes employee care and resources in the budget.
The Outcome: Win-Win Synergy for the Organization and the Employees
Good team synergy comes from creating and cultivating a team where each member complements the others. Not only do they work with each other, but they work for each other.
In chemistry, synergy is a collective transmutation where the whole is much greater than the sum of its parts.
You may have one employee who is an introverted, plan-ahead visionary and another who is an intelligent, spontaneous procrastinator.
Individually, you may have difficulties with each of their work styles, but when they work together, you find that the results are far better than you would have expected from either of them.
Good synergy is created when a manager knows how to manage him- or herself well and responsibly, provide an environment that supports and nurtures employees, and understands how to best use all of the resources at the team’s disposal.
This positive force becomes a dynamic, productive team that has shared values, work ethics, and the ability to share recognition and growth.
Clients get better products or services, the company or organisation gains positive referrals and growth, and the dynamic team grows, expands and shifts, with employees taking what they’ve learned to become great managers — all because of what they’ve learned from watching you.
A great manager can be a valuable asset to a company, to the team under the manager’s leadership, and to the community and culture as a whole. By learning how to manage yourself, your employees, and your resources, you will be the common denominator and force behind a resilient, dynamic team.
What are some of your thoughts on this? I would love to hear from you in the comment box below!
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Some highlighted topics to look forward to on your journey to master management:
Think about it. It starts with Managing yourself better.
The Art of Managing people.
How to make decision making your friend.
Creative Problem solving is the new super power!
Less talk more listening: Communication and negotiation.
Is leadership a talent or skill?
Planning your way to success!
The lost skill of Focus.
The Delegation puzzle!
Change is constant!
