Many people dream of becoming entrepreneurs, and often the biggest...
Letting technology do the heavy lifting for certain monotonous tasks...
Choosing the right accounting method can significantly impact...
Bootstrapping—financing growth through internal cash flow—is a hallmark...
February 4, 2022
If you are the kind of leader who does not like to delegate work, wants to be copied on emails, frequently asks for extremely detailed reports and feels that in order to get something right, you need to do it yourself, then you are a micromanager. And let’s be honest; no one likes to be micromanaged. It’s demotivating, demoralizing and frustrating. Micromanagement erodes your team’s morale and limits their growth potential by creating an atmosphere of mistrust. In addition, it interferes with your ability to concentrate on the most important things. If you are caught up in the little details of a number of tasks, you are not able to think of the big picture. According to research, costs of long-term micromanagement include: • Poor staff morale. • Higher turnover – micromanagement is one of the top 3 reasons employees resign. • Lower productivity. “Ultimately, micromanagement leads to decreased growth potential in a department,” the researchers write. “Managers who put too much emphasis on daily operational details can miss the broader picture and fail to plan for departmental expansion.”
Here are three ways you can stop micromanaging your employees:
A growing body of knowledge is emerging about how humans make decisions, perform at peak levels and work together effectively. Make use of it. Whether you follow neuroscience or psychology, investing in the development of individuals and teams, creating psychological safety, understanding how the brain responds to different stimuli, and treating people as fully adult adults have been proven to yield significant results.
– To be a leader, you need to be comfortable around people. If it is something that does not come naturally to you, start by asking your workers questions such as “What can I do to make your success easier?” or “What can we do to improve?” An open and honest conversation that assumes an abundance of insights and wisdom rather than a scarcity will build your skills and improve your overall team performance.
While obsessing over minute-by-minute measurements, it’s easy to lose sight of the larger mission. Let your employees know the importance of their work and how it improves people’s lives. The best way to ensure that your staff members are doing the right thing when no one is looking is to connect them deeply to the mission.
Our team is made up of seasoned professionals who bring years of industry experience to the table. You gain a trusted advisor who understands your business inside out.
Say goodbye to the hassles of hiring, training and managing in-house finance teams. You will never have to worry about unexpected leave of absence or retraining new employees.
Whether you’re a small business or a global powerhouse, our solutions scale with your needs. We eliminate inefficiencies, reduce costs and help you focus on growing your business.
Choosing the right accounting method can significantly impact how you track financial performance, manage taxes, and plan growth. Two common...
Bootstrapping—financing growth through internal cash flow—is a hallmark of many successful startups. But as businesses mature past their initial stage,...
In today’s business landscape, technology is more than a convenience—it’s a strategic asset that can supercharge growth. But as you...
The month-end close can feel like a perpetual scramble—collecting invoices, reconciling accounts, fixing last-minute errors. A drawn-out close not only...
Overhead costs—from utilities and rent to administrative staffing—can quietly swell until they erode profit margins and slow your ability to...
Growth triggers a tidal wave of financial complexity, multi-entity operations, new product lines, overseas expansion, or investor relations. If your...
Mergers and acquisitions (M&A) can dramatically alter a company’s trajectory—unlocking new markets, technologies, or customer bases. Yet, many deals stumble...
Working capital: The difference between your current assets and your current liabilities. It’s a key barometer of financial health. While...
Expanding your team and capabilities is critical to sustaining growth—but the question often arises: Should you build an in-house department...