Being a leader comes with great responsibility.
Not only are you accountable for the success of your division or organization, but your team is also constantly reliant on you for feedback, coaching, and guiding personal development.
While juggling these priorities, it’s not always easy for a manager to know the exact right thing to say to employees on the team. To further complicate matters, we all have bad management habits that have compounded over time, and they can be difficult to shed.
Building a New Lexicon
Today’s infographic comes to us from Headway Capital, and it highlights 11 things that leaders should never say to their teams.
More importantly, it breaks down the negative implications of each instance, while also providing suggestions on how we can evolve our managerial skills to ensure that we are approaching each situation far more proactively.
Life as a leader is busy, and it has many competing priorities.
However, to grow the type of company culture that pays long-term dividends, it’s worth it to try and better develop the way you give feedback to team members.
Using the list of items in the infographic, we can generally categorize these mistakes in a few distinct categories.
1. Gut Reactions
The quick dismissal of someone’s effort (“That’s not important”) or the temptation to play the busy card (“I don’t have time to talk right now”) can send the message that an employee’s time or thoughts are not valued.
Instead, small adjustments can be made to encourage better outcomes. For example, you could make it clear that while you may be busy in the moment, that a time can be scheduled at a later date to discuss the issue in detail.
2. Business Truisms
Likewise, spouting overused, quasi-motivational business phrases (“Failure is not an option”) or using dictative language (“We’ve already tried that before”) can stifle innovation at a company.
It’s better to instead ask questions, such as “What is our backup plan if this idea doesn’t work?” or “What other options do you see?”, to expand the range of opportunities that can be pursued.
3. Generic Feedback
Finally, although phrases like “Keep doing what you’re doing” or “Nice job today” seem to be positive and engaging, they actually are ineffective from a development perspective.
Employees need specific feedback to grow, so all that has to happen here is to mention a specific task or project along with the feedback. Team members can then internalize precisely what made a project or task a success, and apply it to other areas in the workplace.
The New Rules of Leadership: 5 Forces Shaping Expectations of CEOs
This infographic delves into five major forces reshaping our world and the new rules of leadership that CEOs should follow as a result.
It’s common knowledge that CEOs assume a long list of roles and responsibilities.
But in today’s world, more and more people rely on them to go beyond their day-to-day responsibilities and advocate for broader social change. In fact, a number of external forces are changing how leaders are now expected to behave.
How can leaders juggle these evolving expectations while successfully leading their companies into the future?
The New Rules of Leadership
This infographic from bestselling author Vince Molinaro explores five drivers reshaping our world that leaders must pay attention to in order to bring about real change.
How is the World Being Reshaped?
Leaders need to constantly stay one step ahead of the transformative forces that impact businesses on a broader scale.
Below we outline five key drivers that are changing what it means to be a leader in today’s world:
1. Transformative Technologies
Over the last number of decades, several technologies have emerged that could either accelerate the disruption of companies, or provide them with new opportunities for growth. According to KPMG, 72% of CEOs believe the next three years will be more critical for their industry than the previous 50 years.
For example, artificial intelligence (AI), can now provide companies with insights into what motivates their employees and how they can help them succeed. IBM’s AI predictive attrition program can even predict when employees are about to quit—saving them roughly $300 million in retention costs.
Leaders must accept that the future will be mediated by technology, and how they respond could determine whether or not their organization survives entirely.
2. Geopolitical Instability
Geopolitical risks—such as trade disputes or civil unrest—can have a catastrophic impact on a business’s bottom line, no matter its industry. Although 52% of CEOs believe the geopolitical landscape is having a significant impact on their companies, only a small portion say they have taken active steps to address these risks.
By being more sensitive to the world around them, leaders can anticipate and potentially mitigate these risks. Extensive research into geopolitical trends and leveraging the appropriate experts could support a geopolitical risk strategy, and alleviate some of the potential repercussions.
3. Revolutionizing the Working Environment
As the future of work looms, leaders are being presented with the opportunity to reimagine the inner workings of their company. But right now, they are fighting against a wide spectrum of predictions around what they should expect, with estimations surrounding the automation risk of jobs ranging from 5% to 61% as a prime example.
While physical, repetitive, or basic cognitive tasks carry a higher risk of automation, the critical work that remains will require human interaction, creativity, and judgment.
Leaders should avoid getting caught up in the hype regarding the future of work, and simply focus on helping their employees navigate the next decade.
By creating an inspiring work environment and investing in retraining and reskilling, leaders can nurture employee well-being and create a sense of connectedness and resilience in the workplace.
4. Delivering Diversity
Diversity and inclusion can serve as a path to engaging employees, and leaders are being asked to step up and deliver like never before. A staggering 77% of people feel that CEOs are responsible for leading change on important social issues like racial inequality.
But while delivering diversity, equity, and inclusion seems to be growing in importance, many companies are struggling to understand the weight of this issue.
An example of this is Noah’s Ark Paradox, which describes the belief that hiring “two of every kind” creates a diverse work environment. In reality, this creates a false sense of inclusion because the voices of these people may never actually be heard.
Modern day leaders must create a place of belonging where everyone—regardless of gender, race, sexual orientation, ability, or age—is listened to.
5. Repurposing Corporations
The drivers listed above ladder up to the fact that society is looking to businesses to help solve important issues, and leaders are the ones being held accountable.
With 84% of people expecting CEOs to inform conversations and policy debates on one or more pressing issues, from job automation to the impact of globalization, CEOs have the potential to transform their organization by galvanizing employees on the topics that matter to them.
For a long time, the purpose of corporations was purely to create value for shareholders. Now, leaders are obligated to follow a set of five commitments:
- Deliver value to customers
- Invest in employees
- Deal fairly and ethically with suppliers
- Support communities
- Generate long-term value for shareholders
Ultimately, these five commitments build currency for trust, which is critical for sustained growth and building a productive and satisfied workforce.
Lead the Future
If leaders understand the context they operate in, they can identify opportunities that could fuel their organization’s growth, or alternatively, help them pivot in the face of impending threats.
But organizations must invest in the development of their leaders so that they can see the bigger picture—and many are failing to do so.
By recognizing the new rules of leadership, CEOs and managers can successfully lead their organizations, and the world, into a new and uncertain future.
29 Psychological Tricks To Make You Buy More
This graphic looks at 29 different psychological tricks that marketers use to try and influence consumer behavior.
29 Psychological Tricks To Make You Buy More
Ever suffered from buyer’s remorse? You’re not alone.
According to a recent survey, only 5% of people have never felt guilty about buying something. That means the majority of us, at some point in our lives, have regretted a purchase.
But consumers aren’t necessarily only to blame for impulse buys. After all, we’re constantly bombarded with advertisements and marketing tactics specifically tailored to try and get us to spend more money.
Today’s graphic by TitleMax explains 29 different psychological tactics that marketers try to get consumers to buy more.
Tricks are for Marketers
While this list isn’t exhaustive, it provides some key examples of the ways that marketers are attempting to influence your subconscious mind.
We noticed some high-level trends among the 29 tactics, which we compiled into four overarching sections:
- Visual Pricing Tricks
These tricks aim to intentionally minimize the appearance of the price, so it’s more palatable to consumers. For instance, a store will price something at $9.99 instead of $10.00, or label a product as “buy-one-get-one” rather than 50% off.
- Intentional Language Tricks
It’s not what you say, but how you say it. Making products seem costly to manufacture, offering exclusivity, and using words associated with small amounts fall under this category. These tricks use semantics to position a product in an appealing way.
- Brick-and-Mortar Tricks
A store’s layout is less arbitrary than you may realize. Having a bright and colorful entrance, playing calm and slow music, and putting the essential items at the back of the store are a few tactics that fall into this section. These tricks use displays and product placement to influence consumer behavior.
- Urgency Tricks
A false sense of urgency and phase-out discounts are included in this category. If a consumer believes they might miss out on a deal, they’re more likely to buy.
The Theories in Practice
While most retailers are guilty of using at least a few of these tactics, several big companies are notorious for their use of psychological tricks to boost sales.
For instance, Ikea is well known for its confusing, maze-like layout. This is no accident, as an Ikea store’s architecture is designed specifically to maximize product exposure—it’s mastered what’s called the Gruen effect, a term named after architect Victor Gruen, whose elaborate displays were proven to convert browsers into buyers.
Another example is Walmart’s rollback pricing, which uses visual contrast to make the sale price more appealing. It’s clearly served the company well—in 2019, Walmart made $524 billion in revenue, making it the world’s largest retailer.
Costco uses a few tactics on the list, but one it’s notorious for is putting fresh produce in the back of the store. That means customers need to pass through the electronics, clothing, and household goods sections before they can get to the necessities.
While the above tactics are in a gray area, other tricks are flat out dishonest. Makeup brand Sunday Riley was caught writing fake Sephora reviews to boost sales. Employees were encouraged to write outstanding reviews for the company, and the CEO even provided instructions on how to avoid getting caught.
The Influencer Era
As consumers become aware of certain marketing tactics, retailers are forced to switch up their game in order to remain effective.
A relatively recent phenomenon is influencer marketing, which is when brands partner with vloggers or influencers to endorse a product. And these partnerships tend to work—a recent survey revealed that 40% of people have purchased something based on an influencer’s recommendation.
But how long will influencer marketing—or any of these tactics—stay effective? Some of the more subtle pricing tactics might stay relevant for longer, but it’s unlikely that all of these tricks will stand the test of time.
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