Different Leadership Styles
Trait theory, transformational leadership theory, and transactional leadership theory are a few examples of the numerous types of leadership theories. Barclays PLC is a company where transformational leadership is mostly applicable. In this essay, the leadership philosophy espoused by Barclays is highlighted, and the leadership style of the company is evaluated. relevant leadership theories for the workplace.
In order to ensure that it gains from enhanced sustainability, Barclays Corporation has changed its organizational structure during the previous three years. The current executive team is made up of young talent from several prominent firms, including Morgan Stanley, who were appointed to assist in stabilizing the company. This team of leaders that is composed of new heads of departments embraces transformational leadership theory in their everyday running of Barclays PLC. The primary aim of this leadership theory is to enforce changes to an organization and at the same time create value that is instrumental in the firm’s growth.
Under the leadership style, Barclays’ heads try to ensure that they serve as role models to the other employees. Additionally, the leadership has been on the frontline in coming up with change strategies aimed at ensuring that the company’s productivity increases significantly (Bass & Riggio, 2014). In the recent past, there has been an introduction of a suggestion forum by the management whose aim is to ensure that all the workers contribute to the forward movement of the firm by coming up with innovative ideas. Transformational leadership has also played a role in the enhancement of workplace relationship in those departments that occasionally experienced conflicts. Through the implementation of ethical codes of conduct that workers have to strictly adhere to, this leadership is gradually bringing positive changes to the company.
Challenges of transformational leadership
Some of the goals set by the leaders within the organization may end up not being attainable thus affecting the firm’s performance.
Transformational leadership may result to micromanagement of employees leading to their lack of morale and burnout.
The leadership may be incompatible to an organizational systems and this implies that its efficiency may not be witnessed either in the long-term or short-term (Kokemuller, 2017).
In the case of Barclays, for instance, issues of employee-conflicts are still being reported though the leadership style is still applicable.
Evaluation of the Leadership of Barclays Company
The top leadership of the Barclays Corporation entails Chief Executive Officer (Jes Staley), the chairman (John McFarlane), Chief Operations Officer (Paul Compton) and the Chief Finance Officer (Tushar Morzaria) (Leadership | Barclays Directors & Leadership Team | Barclays, 2017). The company also has a board of directors that is mandated with the role of ensuring that all the operations are effectively managed and handled. The Human Resource Manager is also a part of the organizational leadership and plays an instrumental role in ensuring that all the employees perform their duty in line with the company’s ethics and that those that excellently discharge their duties are recognized and rewarded. Employee motivation and encouragement stands out as one of the goals that the heads of the organization try to incorporate as a part of their transformational leadership. Through promotion and reward programs, the company recognizes all those employees that are skilled and high performers.
The leadership of the organization is also made up of experts that have a lot of experience in the banking industry. This makes it easier for them to come up with workable business models and strategies aimed at generating high returns to the firm in the future. The leaders also focus on bringing back past glories that the company enjoyed regarding financial performance and productivity.
Conclusion
From the above information, it is clear that Barclays solely relies on transformational leadership in its everyday operations. In as much as the company has been rocked with challenges in the past two years, this visionary leadership style applicable will drive the company back to its high-flying performance.
References
Bass, B. M., & Riggio, R. E. (2014).Transformational leadership. New York.: Routledge.
Kokemuller, N. (2017). Advantages and Disadvantages of Transformational Leadership. Retrieved September 22, 2017, from http://smallbusiness.chron.com/advantages-disadvantages-transformational-leadership-20979.html
Leadership | Barclays Directors & Leadership Team | Barclays. (2017).Home.barclays. Retrieved 16 September 2017, from https://www.home.barclays/about-barclays/leadership-team.html
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