Will your business be more successful if your employees do the bare minimum or go the extra mile? If you’re considering investing in a startup, would the presence – or absence – of engaged and motivated employees impact your decision? If you’re in charge of an organization, is volunteer or employee retention a constant problem?

A quick look at a few statistics illustrates the importance of leadership.

  • Only 16% of employees feel connected and engaged.
  • Replacing an employee costs 33% of his/her salary.
  • 90% of employees are leaving for a new job or hunting for a new job either actively or passively.
  • 42% of the most valuable employees, those earning more than $75,000, plan to quit within 6 months.

There’s an enormous difference between being a boss and being a leader. There are bosses everywhere, but far fewer genuine leaders. If you’re the person in charge, it’s your decision as to whether you’re a leader or a boss.

  • Motivation: A leader inspires and coaches others. A boss pushes uncommitted employees.
  • Vision: A leader is inspirational and communicates his vision (remember Steve Jobs). A boss wants workers to be afraid, more like the godfather.
  • Damage Control: A leader works to minimize the damage and understand the cause so it won’t happen again. A boss blames subordinates.
  • Experience: A leader demonstrates how to do something. A boss simply knows how it should be done.
  • Listening: A leader listens to divergent opinions before making a decision. A boss listens to no one.
  • Teamwork: A leader is at the helm of a team and has a “we” mentality. A boss thinks of “me.”
  • Authority: A leader fosters mutual trust and accountability. A boss depends solely on his/her own authority.
  • Acknowledgment: A leader acknowledges team member’s accomplishments. A boss takes all the credit.
  • Mentoring: A leader helps others expand their skills. A boss uses others.
  • Leadership: It’s “Let’s go” for a leader, but only “Go” for a boss.

“Leading” rather than “bossing” means you’ll be challenged instead of having blind obedience. If someone else has a better idea, you’ll put aside your ego and go with it. The final decision is always yours, but when you’re a leader rather than a boss, you have the support of your team. Everyone benefits. It’s your choice.