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In the 2011 movie Horrible Bosses, the main characters declare, “Our lives would be better if our bosses weren't alive!” Showing blatant hostility, trickery, sexual harassment, discrimination, and abuse, the bosses in that film are, if not complete caricatures of terrible managers, then certainly at the far side of reality’s spectrum.

Still, bad bosses do exist, and even if they aren't dragging a department or a company down completely, they are surely keeping the unit from truly thriving. While a good boss can inspire a team, instill loyalty, and motivate hard work by making each employee feel valued, a bad one can just as readily generate an environment of discord, cyclical abuse, mistakes, blame, and intolerance—and that supervisor can definitely create a revolving door.

The generational composition of the nation’s workforce is constantly changing, and, at certain times, it seems the landscape creates an entirely new snapshot. Such will be the case by 2020, when nearly half (about 46 percent, by most estimates) of the workforce will be comprised of millennials. Which is a particularly important statistic for today’s leaders, who are, by and large, boomers or gen Xers, with a few veterans still sprinkled in.

Making room for the next generation has often been fraught with some headache: each previous generation embraces different viewpoints and honors different values than the ascending one. Such is certainly the case these days, as millennials make their way into more and more offices, bringing with them new ideas, characteristics, and expectations. It can be a clash at times—“I think there’s a disconnect because older workers come from a time when you have one career for life and corporate loyalty, and millennials just want to make an impact on day one,” notes Dan Schawbel in a study he conducted in conjunction with American Express. A millennial himself and founder of Millennial Branding, a gen Y research and management consulting firm, Dan also points out that one of the best ways to bridge the divide is through effective communication, which includes managers’ setting expectations, particularly regarding how the employee can move through the ranks.

Running a business demands a varied set of important skills and the experience to make the most of these skills. The overall progress of your company depends on your ability to make sound decisions that will grow your business in the long-term by taking prudent and diligent steps in the short-term. One key to managing the success of your company lies in your ability to fill a wide array of roles that are essential to handling each aspect of your business at a level that yields progress. As your company grows and reaches further into the areas that will be instrumental in long-term growth, you will need allies within your company to help manage the expanding workload.
Delegating authority is a critical step every leader must assume in order to ensure all areas of your company’s pursuits are managed effectively and monitored consistently. No one person can do it all, and as such, delegating authority allows a growing business to meet the rigors of increasingly diverse avenues of business while not over-extending talent. Delegating authority is also an important ingredient in drawing out the best and most creative attributes of your managers. Once you have amassed a team of managers that are qualified to help you lead the way toward your company’s goals, delegating greater amounts of authority will enable you to use the combined talents of your managing staff toward a dynamic new direction for your company.

Too often I have heard from managers and recruiters who are Boomers or Generation X that Millennials have an unrealistic, inflated view of their capabilities. On the other hand, many Boomers and Generation X have a deflated perception of their competencies. Is this generational?

There are studies that would support that Millennials have an inflated view of their capabilities. A study of the generational differences in psychological traits of college students by Jean M. Wenge and Stacy Campbell, (Journal of Managerial Psychology, Vol 23 No. 8, 2008) found that the Millennial generation has the highest scores of self esteem and narcissism of any generation. Comparing scores of college-aged students on psychological inventories between 1950 and into the 2000s, the authors were able to track significant changes in generations. By the mid 1990, the average “Generation Me” college student had a higher self-esteem than 71% of Boomers. Narcissism scores also raised significantly. The average college student in 2006 scored higher in narcissism than 65 percent of students in the early 1980s. Specifically, a significant number of Millennial college students responded affirmative to questions such as “If I ruled the world it would be a better place,” “I think I am a special person,” and “I can live my life any way I want.”

Taking the reins at one of the largest and most influential companies in history is an undoubtedly daunting assignment. Following in the footsteps of one of the most important figures in modern history only adds to the challenge. Satya Nadella, the man tabbed for taking Microsoft into a new era of influence and prosperity as CEO, brings a wealth of experience, a uniquely international perspective, and a leadership style that will be tested as he commands an employee base of over 100,000 professionals.

This transfer of leadership comes at a time when Microsoft faces challenges unlike any in the company’s storied history. With new avenues spawned from; a diverse array of tech platforms, the ever-expanding wireless and mobile markets continuing to explode across the marketplace, and a recent history of playing catch-up to other Silicon Valley upstarts, Nadella looks to carve out a bigger slice of market share for Microsoft with a fresh, new leadership style.

Satya Nadella is just the third of Microsoft’s CEOs and the first to be promoted to the helm having not been part of the founding of the company. Following his 1992 hire from Sun Microsystems, Nadella has spent 22 years with the Redmond-based tech giant in executive roles. Though Microsoft has seen its luster tarnished over the past decade, the company’s imprint on the PC market continues to dwarf all others. Still, the vast majority of PCs sold today, come equipped with the familiar Windows operating system platform. The company’s foray into the post-PC world is what continues to challenge Microsoft and will be a critical arena for Nadella and his staff to address.

Change is good…except when it’s bad. One of the most relied upon adages in any endeavor is that at some time things will change. Oftentimes change is visited upon a company by unforeseen outside influences; a market contraction, an event that disrupts the supply chain, or the sudden departure of valuable talent. Other times, change within an organization can come voluntarily, as a necessary means for survival or to move in a direction that will bring future prosperity and a strengthened position within a market. In either case, leadership during a time of transformation will make the difference between a successful shift and a disastrous one.

Quality leadership requires managers who are not only prepared and adept at handling matters during the sublime, but leaders who are agile and composed enough to navigate through turbulence. The keys to effective management during times of transformation are varied, with each leadership trait playing a critical role in the effective stewardship of the company through the turmoil of change. To ensure your company has what it takes to survive and even thrive through the adversity that transformation can bring, pay diligent attention to a few crucial leadership attributes that will serve you well and lead your company back to a more serene environment.