As leaders, it’s crucial to recognize that every member of our team is unique, with their own set of skills, motivations, and preferences. Just as each person has a preferred communication style or work method, they also have their own “currency” when it comes to rewards and motivations. Understanding this currency is key to unlocking their full potential and fostering a culture of engagement and productivity.

So, what exactly do we mean by “currency” in the context of leadership? Essentially, it refers to the various forms of recognition and reward that hold value for different individuals. Some team members may be motivated by tangible rewards such as bonuses, promotions, or public recognition, while others may find fulfillment in intrinsic rewards like personal growth opportunities, meaningful work, or a supportive work environment.

By taking the time to understand each team member’s preferred currency, leaders can tailor their approach to motivation and reward accordingly.

This might involve having open and honest conversations with team members to uncover their goals, aspirations, and what drives them in their work. It could also mean observing their behavior and preferences over time to gain insights into what resonates most with them.

Let’s consider a scenario where a team member consistently goes above and beyond in their work, but seems uninterested in traditional forms of recognition such as public praise or monetary bonuses. Upon closer examination, the leader discovers that this individual is motivated by opportunities to take on new challenges and develop their skills. Armed with this knowledge, the leader can provide meaningful feedback, offer stretch assignments, or invest in training and development opportunities that align with the team member’s goals.

Similarly, situational leadership requires a keen awareness of the unique strengths and weaknesses of each team member. Some individuals may thrive under a more hands-on approach, requiring clear guidance and support to excel, while others may prefer a more hands-off approach, valuing autonomy and trust.

By adapting our leadership style to meet the needs of each situation and individual, we can create an environment where everyone feels empowered to succeed.

Moreover, situational leadership isn’t just about adjusting our approach to suit the needs of our team members—it’s also about fostering a culture of flexibility and adaptability within the organization as a whole. In a post-pandemic world, the ability to pivot and respond to change is more important than ever. By embracing situational leadership principles, we can equip our teams with the tools and mindset needed to navigate uncertainty and drive success.

~ Michelle Budiwski

February 9, 2024

Sources:

https://www.investopedia.com/terms/h/hersey-and-blanchard-model.asp

https://affinitymc.com/what-motivates-people/