These 5 Leadership Mistakes Are Costing You Millions

Let me ask you a few questions

Do you worry about the long-term growth of your tech agency?
Are you concerned about the impact of poor leadership and hierarchical management on your team?
Do you feel like your employees are stuck in a rut and not able to reach their full potential?

If so, you’re not alone.

In today’s blog, I’m taking an example of a major tech agency with a reputation for being fresher-oriented and not a great place to work for long-term employees.

TODAY’s MENU
– Problem: Poor leadership and hierarchical management are stifling your company’s growth and could lead to its downfall.

– Consequences for your business If you don’t address these problems immediately, you could lose your best employees, your customers, and your market share.

– How you can fix these issues: Invest in your employees and create a positive work environment to attract and retain top talent, boost employee productivity and engagement, and improve your bottom line.

⚠️ PROBLEMS AND THEIR NEGATIVE IMPACT

Let’s take an example from a Glassdoor Box review:

Leaders unknowingly steer the ship towards turbulent waters, and associates feel stifled in their careers.

However, I have seen many leaders who are often out of touch with the work that their team is doing, and they make decisions without consulting their employees. This can lead to frustration and resentment among employees.

This issue might be giving you sleepless nights, but don’t worry—we’ve got your back. Let’s uncover a few ways to conquer this challenge:

❌ Problem 1: Poor leadership and hierarchical management

Several leaders are often out of touch with the work that their team is doing, and they make decisions without consulting their employees. This can lead to frustration and resentment among employees.

❌ Problem 2: Poor appraisal process and lack of promotion

Some company’s appraisal process is seen as unfair and biased, and employees often feel like they’re not being rewarded for their hard work. This can lead to a lack of motivation and engagement among employees.

❌ Problem 3: Stringent WFO policy and micromanagement

In several projects, there is a notable trend of associates deciding to leave their positions. This can be attributed to the company’s stringent policy regarding Working From Office (WFO), which may deter employees who value the flexibility of working from home. Moreover, managers have gained a reputation for closely micromanaging their teams, which can contribute to a less-than-ideal work atmosphere.

❌ Problem 4: HR Team is manager-friendly rather than employee-concerning

The HR team is often perceived as prioritizing the interests of managers over those of employees, which can pose challenges for employees seeking issue resolution and support.

❌ Problem 5: A lot of freshers are hired to get the work done, and eventually experienced people find it difficult to thrive over time.

Some company’s hiring strategies often focus on recruiting a significant number of freshers, resulting in a shortage of experienced professionals within teams. This situation can hinder experienced employees from receiving the support required for career growth.

Now, it’s time to find your North Star.

🤔 QUIZ

Question: Which of the following is NOT a negative impact of poor employee experience on tech agencies?

(A) Reduced employee productivity and engagement
(B) Increased employee turnover
(C) Damage to company culture
(D) Improved customer satisfaction

👉 Stay tuned for the answer at the end of the newsletter

💡SOLUTIONS TO FIX THESE PROBLEMS

✅ SOLUTION 1: Hire Skilled Leaders

Focus on creating a positive work environment: Make sure that your employees feel valued and respected. Create a culture of open communication and collaboration.
Invest in your employees’ development: Provide your employees with opportunities to learn and grow. This will help them to stay motivated and engaged in their jobs.
Offer competitive salaries and benefits: Make sure that your employees are being compensated fairly for their work. Offer benefits that are important to your employees, such as flexible work arrangements and health insurance.
Create a culture of transparency and fairness: Make sure that your employees understand your company’s policies and procedures. Create a fair and transparent appraisal process.
Give your employees a voice: Listen to your employees’ feedback and concerns. Take their input into account when making decisions.

✅ SOLUTION 2: Give appraisal to the right people

Create a fair and transparent appraisal process: Make sure that your employees understand the criteria that will be used to evaluate their performance. Be clear about the expectations for each role. Provide employees with regular feedback on their performance.
Reward employees for their hard work: Recognize and reward employees for their contributions to the company. This could include financial rewards, promotions, or other forms of recognition.

✅ SOLUTION 3: Be flexible with your work schedules

Offer flexible work arrangements: Allow your employees to work from home or from other remote locations. This can help improve employee morale and productivity.
Empower your employees: Give your employees the autonomy to make decisions and to take ownership of their work. This will help to create a more positive and productive work environment.
Trust your employees: Avoid micromanaging your employees. Instead, provide them with clear expectations and give them the freedom to do their jobs.

✅ SOLUTION 4: Streamline your HR department

Create a culture of employee advocacy: Make sure that your HR team is focused on supporting the needs of your employees. Create a process for employees to resolve issues or get the support they need.
Be transparent with your employees: Be open and honest with your employees about the company’s policies and procedures. This will help to build trust and confidence between employees and the HR team.

✅ SOLUTION 5: Make a balance between freshers and experienced employees.

Invest in your experienced employees: Provide your experienced employees

🎯 CONCLUSION

Creating a positive employee experience is essential for the success of any tech agency. By following the tips above, you can create a workplace where employees feel valued, respected, and supported.

This will lead to increased employee productivity and engagement, reduced employee turnover, and improved customer satisfaction.