Four qualities of great leaders

It’s common knowledge that becoming a great leader calls for a complex suite of skills. Although we recognise that talented bosses are equipped to rise to challenges and make tough decisions, we often forget that the ability to communicate, delegate, remain positive and stay creative are equally intrinsic to finding a leadership formula that works.
 
Whether you dream of heading up an accounting firm or working as a tax consultant, there are ways to hone your leadership credentials now. Here are four qualities of great leaders along with fail-safe tips for acquiring them.

Communication skills

The ability to articulate ideas and give clear direction to colleagues can separate a mediocre leader from a boss who excels. Failure to communicate effectively can lead to conflict and poor execution – factors that can impact bottom lines. From taking a professional writing course to volunteering to speak at an industry panel, there are plenty of ways to cultivate your powers of expression and make sure people understand what you’re trying to say.

The ability to delegate

Great leaders know that when it comes to freeing up the time and energy to focus on strategy, the ability to delegate is key. Overbearing managers run the risk of damaging relationships with staff members and impacting employee trust. You can master the art of delegation by looking at your workload and identifying the tasks you could outsource. The most effective delegators understand the responsibilities that are worth their efforts and those that should be passed on to someone else. They also trust their team to deliver great work without being micromanaged.

A positive attitude

The best leaders believe that you can turn around a missed opportunity and that failure is simply success in this disguise. This positive perspective is essential to becoming the kind of visionary leader staff members look up to and emulate. Whether it’s working with a charity or volunteering at a not-for-profit on weekends, offering your skills to those who need them can help you become more influential.

A creative approach

Fields such as tax and accounting might not be traditionally classified as creative, but creativity is still a powerful leadership asset that can help a company grow. Being a leader often means thinking outside traditional boundaries and drawing on the power of imagination to tackle complex briefs. Whether it’s taking a painting class or learning how to capture better photos, there’s no shortage of ways to catch the creative bug. Harnessing your creativity can supercharge your leadership skills down the track. Encouraging your team to think creatively and brainstorm together can help foster creativity in the workplace.

From communication skills to the ability to delegate, the right mix of attributes can see a leader succeed.

What are you doing today to hone your future leadership skills?

Five early career milestones to hit

It’s never too early to start identifying or striving to reach career milestones. Here are five classic career goals you should aim to achieve during your first few years as a graduate.

1. Get really good at what you do

It doesn’t matter which tax courses you’ve completed at university or how much you think you know, as a new employee you’ll quickly become aware of just how much you need to learn. Seize every opportunity you can to broaden your knowledge, including gaining insight from bosses and colleagues, as well as sharpening your skills from the taxation education your employer offers. One day you’ll wake up and think to yourself, “You know, I’m now actually pretty good at my job.”

2. Get that first promotion (and the second and third)

No matter how minor it is, that first title bump creates the momentum that will hopefully push you all the way to the top of the tax industry. Don’t waste a minute starting your ascent up the ladder.

3. Work overseas

Take advantage of being young – and relatively commitment free if you’re working for a firm that offers overseas postings. Aside from the excitement of living somewhere such as New York or London, you’ll develop a new maturity and a broader, well-rounded outlook on life and work.

4. Manage others

Once you’ve learnt how to manage yourself, you’ll face the much more complicated task of managing others, which, depending on how good you are at it, can be either incredibly frustrating or wildly rewarding. Remember that if you’re good at managing yourself and your workload, you can always rely on having a job. But if you have the far rarer skill of also being good at managing others, you can rely on having a highly paid and high-powered executive position.

5. Add to your qualifications and expand your skill set

After spending almost a couple of decades in full-time education, it can be tempting to take a long sabbatical from study and focus on gaining real-world experience. However, you’re unlikely to reach many of the future milestones if you don’t expand your skill set, either by undertaking further tax training in the form of a CTA1, CTA2A, CTA2B, CTA3, Graduate Diploma of Applied Tax Law or Master of Taxation, or by pursuing qualifications in complementary fields, such as people management.

In today’s crowded workforce, you need to demonstrate you’re a go-getter from the get-go. While you don’t need to adopt all the milestones suggested above, you should have a clear set of goals you’re actively working towards if you want to reach your full potential.

Give yourself the edge with free Student Membership

If you are a tertiary education student, The Tax Institute can help you progress in your career journey.

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