With Great Managers, Comes Great Business

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World's Best BossWhen employees aren’t engaged it leads to decreased productivity, performance, and growth. And chances are some of the planners who work for you aren’t engaged.

But with great managers comes great employee engagement.

Findings from Gallup’s “State of the American Workplace,” report show that great managers engage employees, leading to increase in recruiting talented employees that are engaged and driving increased profitability and productivity.

Gallup surveyed 7,712 U.S. adult employees to find what qualities they found in managers that kept them engaged at work.

According to a recent article in the Harvard Business Review, less than one-third of Americans are engaged in their jobs at any given year, a statistic that has remained consistent for the past 15 years since Gallup first reported on U.S. workplace engagement.

According to Gallup, engaged employees are those who are involved and enthusiastic about their job and their place of work. Employees who weren’t engaged, on the other hand, “sleepwalk” through their days, Harvard Business Review reports.

Plus, when employees are not engaged or don’t know what their goals are, they tend to think they’re doing great while you’re not pleased.

“Firm owners don’t hold regularly scheduled reviews to look at performance because they are ‘too busy,’ so a lot of times the new planner can get off track and they’re thinking they’re doing really well and the firm is thinking, ‘Why is this person doing things this way,’” said Caleb Brown, CFP, in an April 2015 10 Questions article in the Journal of Financial Planning. “So basically, you’ve got people going in opposite directions.”

Establishing goals and performance metrics is one of the ways Gallup found engages employees and when employees feel engaged, they feel more comfortable, more motivated, and more likely to work hard and stay with your firm for the long haul.

What you can do to become a better leader:

  1. Communicate: Consistent communication is key. Gallup findings show that employees don’t care if it’s face-to-face, on the phone, or via email, the more they hear from you, the better engaged they are. Daily communication is better, the study finds.
  2. Establish Clear Goals: When employees know what their goals are, and know that their performance will be measured by those goals, that gives them a clear vision of their duties and thus a clear mission to tackle.
  3. Focus on Employee’s Strengths: When you’re constantly told what you’re doing wrong, it’s disheartening, right? Your employees will respond better if you focus on what they do right versus what they do wrong. Harvard Business Review reports that when managers help employees develop their strength, they are more than twice as likely to engage their team members.

To read more on how to recruit the right talent and keep them on the right track so they’re not disengaged, read our interview with Caleb Brown here, or listen to our PODCAST. Also, a FPA Webinar by Angela Herbers explores how to manage employees and increase productivity.

Ana2Ana Trujillo
Editorial Assistant
Journal of Financial Planning
Denver, Colo.

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