Today, we're diving into the importance of building a strong team and the psychology behind it.

Early in my career, I thought handling everything myself was the key to success. However, I quickly realized the power of working smarter by collaborating with others.

The key to effective leadership is building strong relationships, but how do we do that? Enter social exchange theory, which suggests that people seek to maximize the benefits of relationships while minimizing their effort. This natural human tendency means leaders must continuously add value to their relationships to maintain motivation and commitment from their teams.

Here are three actionable strategies to implement social exchange theory as a leader:

1. Give Genuine Feedback Regularly: Instead of waiting for formal reviews, offer sincere compliments and acknowledgments in the moment. This consistent positive feedback adds value to your social exchange piggy bank.
2. Support Employee Development: Act as a mentor by asking your team members about their career goals and helping them plan steps to achieve them. Schedule quarterly development meetings to show you care about their growth.
3. Encourage Collaboration: Foster a team environment where everyone works towards common goals, utilizing their unique strengths. Promote open communication and teamwork to make everyone feel part of something bigger.

By implementing these strategies, you'll create an environment where team members feel appreciated and motivated, ultimately increasing your influence as a leader.

If you found value in this podcast, please share it with other next gen leaders. Until next time, keep striving, growing, and leading with purpose.