As the real estate market continues to shift and people are moving around, companies are changing the way they circulate responsibilities throughout their organizations to be well equipped for the rest of 2022. Today’s market conditions haven’t been easy, and businesses and employees find themselves having to do more with less. Whether it’s layoffs or management of underperformers that are impacting your business, today’s economic reality calls for change and reorganization so your business may prevail.
A market slowdown is a perfect moment to step back, be critical of your current practices, and fine-tune where tasks can be improved or shifted. Teams that can pick up the pieces in the worst of times are better prepared for the inevitable next cycle in the real estate industry. We sat down with Chief Marketing Officer, Becky Tassell, to discuss how the Situational Leadership model can help leaders delegate tasks to the right employees and determine which ‘management hat’ to wear to support their workload.
What Is Situational Leadership?
The term “situational leadership” is most commonly connected to Paul Hersey and Ken Blanchard’s Situational Leadership Theory. Situational Leadership matches the appropriate leadership style to the individual’s development level for a task, so the right tasks are assigned to the right people. It’s important to note that this type of leadership is task-based, not people based.
Title companies can see advantages in using the situational leadership approach because teams frequently change, yielding different groups of employees with different core competencies. Great leaders use situational leadership to their advantage, quickly pivoting to new leadership approaches that better develop competence and commitment.
Situational Leadership helps set your title company apart from others by having more collaborative and confident employees who feel purpose and ownership of their roles. Other benefits include:
- Retaining talent – people are more confident and motivated by their roles
- Stronger alignment – matching the right tasks to the right people
- Stronger communication by identifying who can “own” the responsibility
- Stronger professional development by nuturing employee growth
- More autonomy through teaching employees how to provide their own direction and support