For years, leadership was understood as a managerial function. A significant number of authors currently see leadership as replacing management, or as a different but overlapping function. In the first part of this article, the author supports her opinion of leadership as being one of the managerial functions, emphasizing that both leadership and management have developed over time. More emphasis is given to research (and its results among Slovenian managers) showing that they are aware of the increasing importance of leadership compared to other managerial functions. The increased importance of leadership means that managers have to devote more time and attention to employees. Slovenian managers are still overly concerned with their reputation and promotion, and less with the satisfaction and achievements of their employees. Their loyalty to employees is weak, and they are more individualists than team workers. The characteristics of Slovenian managers (supported by research) that led to the aforementioned conclusions are discussed in this article.