Many leaders are making the shift in their focus, skills, and mindset that makes a bigger impact. If you are a leader, this article reveals some of the most profound changes that leaders must make. Multiple elements of sound leadership are changing.
No longer is it enough for leaders to simply be inspirational or ensuring that staff is treated well. While these ingredients are essential, a heightened level of leadership intelligence is also needed to succeed in a world where disruption and new technological developments are changing the face of operations. The most worrying part is the recent failures of some well-known brands globally. In my opinion, they did not see the new trends and the rapid pace of change which disrupts entire workplaces.
I have listed 5 key changing trends that I feel leaders must take into consideration:
The biggest shift is digitization. It is worth noting that big data, machine learning, apps, e-commerce as well as chatbots which act as customer service is reshaping the way business is being done. As a leader, you must understand and be fully switched on as to what is happening in your marketplace. You cannot afford to ‘miss the corner’ as your company can easily erode cash flows and market share. Efficiency and execution using the right tools are critical to the growth and success of your business.
Another important area of concern regarding sustainability and growth is succession planning and strategies for the next in line to be future-ready. The usual traits which are non-negotiable (which include being a good listener, multiple success stories, having the drive and energy amongst many others) are important. But what needs attention is new ingredients to have a recipe for success. The next in line must be prepared and can demonstrate leadership intelligence embracing new skills and have the mental muscle to confront the new reality. They must closely listen to their peers and must have the ability to connect the dots throughout the organization.
Revenues and profits are no longer the only focus points. Leaders must deepen their quest to seek the true purpose of the organization and what makes it stand apart. Customer experience and leaving footprints of success and progression builds brand value. For you to craft and develop a movement as a leader, you further need to ensure there is enough diversity. Diversity allows you to see a different perspective which widens the lens and horizon. This in turn leads to more and better opportunities. Leadership intelligence is about deepening awareness and closing gaps. Leaders must ensure that forecasts must be as close to reality as possible.
Leaders cannot progress on their own. They need a good executive coach or mentor who will support them in their journey. This is now becoming an important aspect of leadership development. There are times when a coaching question uncovers a fresh perspective leading to a highly effective outcome, strengthens the mental muscle, and have the ability to use time more effectively. Good coaches can help identify negative factors such as narcissism and hubris. They help leaders realize that they need to be humble and confident to forge the company forward. There are many research and studies which show that coaches have supported leveraging growth for leaders.
To gain leadership Intelligence, you need to let go of past successes. The past was different and the current reality depends upon a change in strategy and execution on what works now. As a leader, you need to focus on current growth factors and have a forward-looking mindset to succeed. Constant learning and understanding new trends are highly essential. You as a leader need to find out the new trends, new industry-specific changes in technology, innovation as well as marketing to step up the game in the right direction. Progress comes from having the competence and the right skill sets.
In summary, you need to consider making certain changes to keep growing. Having emotional fortitude and the mental muscle to pick signals from diverse viewpoints and guidance from mentors should be a normal and frequent practice. The next level is all about asking the questions which will build more momentum and add more leverage. After all, intelligence is about asking the right questions.