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4349 The World without Bankruptcy Laws

Bankruptcy is one of the natural states which a company may find itself in. Entrepreneurship is primarily about taking risks. When companies take risks, some of them succeed, whereas others fail. Hence failure is a natural part of the business. However, many critics of bankruptcy laws believe that there isn’t a need for an elaborate […]

4348 The Wirecard and Infosys Scandals are a Lesson on How NOT to Treat Whistleblowers

What is the Wirecard Scandal all about and Why it is a Wakeup Call for Whistleblowers Anyone who has been following financial and business news over the last couple of years would have heard about Wirecard, the embattled German payments firm that had to file for bankruptcy after serious and humungous frauds were uncovered leading […]

4347 Why the Digital Age Demands Decision Makers to be Like Elite Marines and Zen Monks

How Modern Decision Makers Have to Confront Present Shock and Information Overload We live in times when Information Overload is getting the better of cognitive abilities to absorb and process the needed data and information to make informed decisions. In addition, the Digital Age has also engendered the Present Shock of Virality and Instant Gratification […]

4346 Why Indian Firms Must Strive for Strategic Autonomy in Their Geoeconomic Strategies

Geopolitics, Economics, and Geoeconomics In the evolving global trading and economic system, firms and corporates are impacted as much by the economic policies of nations as they are by the geopolitical and foreign policies. In other words, any global firm wishing to do business in the international sphere has to be cognizant of both the […]

4345 Why Government Should Not Invest Public Money in Sports Stadiums Used by Professional Franchises

In the previous article, we have already come across some of the reasons why the government should not encourage funding of stadiums that are to be used by private franchises. We have already seen that the entire mechanism of government funding ends up being a regressive tax on the citizens of a particular city who […]

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Let us highlight some common mistakes managers make in knowing and managing employees:

Do not expect your team members to know everything. How can an individual perform each and every task with perfection? Key responsibility areas should not be designed just for the sake of it.

Responsibilities should be delegated as per capabilities, specialization and interest areas of individuals. Do not impose unnecessary burden on employees. Trust me; they would not stick around for a long time.

Managers need to master the art of extracting the best out of each employee by assigning work which interests him/her. Do not ask everyone to do everything. It will lead to a complete mess. Accept the fact that in only very rare circumstances, an individual can perfectly match all your specifications.

Yes, employees expect managers to connect on a personal level as well. Individuals feel motivated when their reporting boss enquires about their family, children or relatives. They speak high of their managers even if they are not around.

The common mistake which managers make in knowing employees is that they interfere too much in their personal lives. Problems arise when personal lives are discussed at the workplace. Please do not bring your personal problems to work. How would you feel if your Boss asks you about your affair? or something which is too personal.

Managers should avoid discussing topics which have no relevance at the workplace. Too much of personal interference in anyone’s life is not at all acceptable in organizations.

Avoid being overfriendly with your team members. You will have difficulty in managing them as friendship is all about going out together, gossiping, and complaining about work and sometimes even Boss. Be warm and polite with them.

Small get-togethers or snacks parties are excellent initiatives to know your employees but make sure you are not overdoing the same. Too much of parties also spoil the work culture and employees stop taking work seriously. Do not ask for undue favours from your team members.

Knowing employees does not mean that you will sit and gossip with your team members. Managers need to spend time with their subordinates to know what they are upto,to find out where they are lacking, in which all areas they can contribute more? and so on. Knowing employees helps managers to understand their capabilities, strong points, weaknesses etc.

You do not have to waste your time by simply discussing things which are not related to work. Remember, your organization is paying you for your hard work, so please do not waste time unnecessarily, instead find out how you along with your team members can contribute more effectively towards your organization.

Even if you know everything about an employee, please do not disclose internal policies and strategies which probably the top management has confided in you. You never know when the other individual backstabs you.

Managers feel addressing employees by their nick names would bring them closer to their team members. Sometimes it may go the other way round. Avoid calling them by their nicknames or surnames. They might feel bad. Call employees only by their first names. Avoid slangs at workplace.

Encourage two way transparent communication at workplace.

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