Reaching the level of CEO indicates that you are a very accomplished individual with some of the most desirable qualities sought after in today’s job market. You are likely an overachiever who possesses know-how above and beyond many, with an ambitious spirit and will to succeed. You may, however, be missing out on a key piece of knowledge that could make you an even better CEO, as well as improve your workforce and increase your company’s bottom line. That knowledge is an understanding and use of psychology.
Investing in People
As the CEO, you are responsible for the actions of your employees and the overall performance of your organization. Surprisingly, many business leaders spend an inordinately small amount of time on developing their workforce in comparison with its importance.
Employees are the lifeblood of any business. It makes sense to invest time in understanding what makes them tick. Take this time to meet with employees—discuss their goals and skills, as well as their expectations for the company. This gives both you and them a chance to see the other’s side of things, fostering a sense of open communication and trust.
Employing a Strategic Philosophy
It’s understood that a CEO has a number of pressing responsibilities. You may be thinking you don’t have time to sit down individually with each of your employees to discover what motivates them. That’s okay. You don’t have to. However, you surely can set aside some time to meet with your executives or your board members to develop a strategy to achieve a new strategic approach to employee relations based on appealing to their psychological motivations.
Knowing When to Cut Your Losses
While it is true that employees are a company’s greatest asset and are, therefore, worth significant investment, it’s also a fact that a bad apple or two can inflict tremendous damage. That’s where a more traditional hard-nosed CEO approach may come into play. It’s important to know when a worker is simply too resistant to change to even respond to psychological appeals. In such cases, it’s usually best to let that one go.
Using psychology to guide your employee relations is an investment that can provide a dramatic return for your business and make you a better CEO. Consider enrolling in an online psychology program to learn more about the discipline and how to apply its methods to your own field. Both you and your employees will benefit from an environment of mutual understanding and strategic, measured sacrifice.