CFOs are a respected member of the upper-management teams at corporations. They are responsible for not only the duties of a CFO, but also to serve as a leader within the company. Many are responsible for hiring and working with members of their own team.
Often times, typical traits of leadership are overemphasized in the corporate world today. Respect, confidence, knowledge, public speaking, and similar traits are viewed as vital skills which make for a good leader – or not. It’s not often that generosity is viewed as a quality of a great leader. But Erika Andersen, nationally known leadership coach, knows how important this trait is and felt compelled to share some information about the topic with Fast Company.
Generosity Really Helps? Yes.
Generosity doesn’t just mean providing material value to your employees and co-workers. Sure, everyone appreciates a raise, extra vacation time or other incentives and rewards for working hard, but employees also want to feel involved. When an employee feels out of the loop, this can affect morale and confidence a great deal, as much or more so than material generosity can. At the worst, it makes a person feel unimportant.
In the tough times many companies are facing, it can be hard to be generous. But it’s still just as important. It’s important to include employees and co-workers, supplying them with as much information as possible when it comes to planning, strategy, and the future of the company. The simple act of informing creates a more inclusive atmosphere within the company and encourages openness and collaboration.
A leader who is generous with information, power, and well-deserved compliments empowers workers. The atmosphere created helps motivate them to do more for the company and for each other. Generosity is one of the most important ways to set an example as a leader in any organization.
Steps to Become a Generous Leader
According to Erika Andersen, there are five primary steps to what a generous leader does:
1. Assume positive intent.
2. Share power and authority.
3. Share what they know.
4. Freely give credit, praise, and reward.
5. Provide the resources necessary to succeed.
Maybe it’s a good idea for you to start implementing these methods of generosity to get the most out of your team.