Ask enough people and you’ll find someone with a story about a horrible boss. Many entrepreneurs choose to start their own businesses specifically because they’ve experienced a supervisor who was simply not an effective leader.
As a business leader, employee job satisfaction can deeply impact your bottom line. It takes a lot of resources—both time and money—to hire new employees. A large turnover rate will negatively affect your profit margins.
As an entrepreneur, you'll benefit greatly if you strive to become the best, most inspiring manager you can be. A little effort will go a long way toward improving the overall performance of your business.
Here are four tips to help you be the boss everyone admires and respects.
1. Empower others.
Effective bosses share job responsibilities with their team. Delegate tasks and know when to let someone to take the lead on a project. Rather than seek control, empower others to grow and accomplish more. Support and encourage staff members to pursue continuing education. The additional training will help employees expand their knowledge and help them be more proficient, professional and productive.
2. Be positive and enthusiastic.
Some of the best bosses are those who are the most enthusiastic and confident about their businesses, careers and work.
It’s natural to have bad days, however, try to show gratitude to your team every day. Acknowledge their hard work and the successes you’ve already achieved. You’d be amazed at how a simple smile or compliment can transform a workplace.
3. Solicit and offer information.
A manager who never shares company information will eventually lose trust and respect. Though some information isn’t appropriate for employees to know, be open whenever possible. Your honesty will keep your employees informed and, in some case, feel more secure in their jobs.
Regularly ask your employees questions about their work. Find out what challenges they face every day. Solicit feedback on the processes and procedures of your business. Allow everyone to share ideas for workplace improvements.
Provide as much, if not more, positive feedback as negative feedback when you review an employee’s performance. Tell them what they do well and provide them with ideas for how they can be more productive in their work. Constructive criticism, when delivered effectively and diplomatically, helps employees grow.
4. Build trust through relationships.
Many bosses don’t invest time in professional relationships with their employees. Team members are treated more like resources than colleagues. Job dissatisfaction grows when you fail to show respect to your staff.
Though you don’t have to be the best of friends with everyone you employ, it’s important to build rapport. If your employees trust you, they’ll be more likely to go above and beyond in their work. Take the time to help your team members understand their strengths and weaknesses so they can develop strategies to meet the demands of their environment.
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This article originally appeared on Entrepreneur.com. Minor edits have been done by the Entrepreneur.com.ph editor.