Where do you draw the line when it comes to letting the team (or individuals) go on their own?
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I found it useful to reframe my goals as a manager. Now my primary goal is to set up systems and people so that if I went away for a month, the team would keep functioning. With this goal, stepping in to prevent a single mistake is now counterproductive, because you have squashed a learning opportunity that would benefit your team long term. I now imagine that I have a budget of 5 or so interventions per week. I can use them to prevent a problem, or offer advice, or adjust a process. But I know that if I go over budget, I will either overwhelm my team and break down their autonomy, or I will be trying to do too much myself. Setting a goal of staying above the fray keeps me from succumbing to the anxiety that I must always be improving everything I can touch.
The role of many managers is to observe the team, relay/filter information coming in from other teams and out to other teams.
At a later stage you can start to optimize the process. Observe common mistakes and inefficiencies - things from sexual harassment to too many emails dragging the team down. You don't always want to patch mistakes with more tools and regulations, as every patch has a cost. Treat every problem like a bug. Sometimes there is a root cause, which causes several problems at once.