The criteria for selecting leaders in 2020 should be reflective of the rapidly evolving economic and social environment. The forces impacting leadership have uncovered a skills gap that must be addressed by professional development programs to target competency development in these areas.
Future Trends in Leadership
- Collective Leadership
- Generational Differences
A critical success factor of succession planning is to prepare incoming leaders to address the mounting forces that are impacting how we manage. Hiring or promoting younger leaders is not a cure-all because the need is skill-based and goes beyond a modern perspective.
Globalization for Many
The traditional preparation for leaders assigned responsibilities abroad was training to become familiar with the foreign language and culture. Fast-forward to the new normal when the majority of workers are operating in the virtual environment. Absent geographic barriers, any employee could be faced with engaging with colleagues from around the world, and this access is allowing companies of any size to transact business globally. In this scenario, flexibility and agility are leadership must-have to prepare the workforce to succeed as they encounter a variety of work climates.
21st Century Sustainability
The term environmental accountability now encompasses a corporate social responsibility (CSR) plan for economic, environmental, and social advancement. Insight and diligence are required to build safeguards into business processes and corporate policies for leaders who must consider the reputation of the company and the long-term consequences of its actions. Procurement is also a part of the sustainability cycle, with the most eco-forward companies inviting their suppliers and customers to join them in transforming their companies to fulfill the requirements to be considered a sustainable business.
Adopting the Principals of Collective Leadership
Thriving with a diverse workforce has brought attention to the concept of collective leadership. With a culture that celebrates group problem solving as opposed to the direction of an individual, this leadership style allows for both directive and collaborative paths to a solution for a shared goal. The success of this approach is dependent on a well-developed network of relationships that transcend the traditional roles and reporting lines. Properly executed, this management system may inspire employees to own the entire workflow as opposed to focusing solely on their specific duties. The goal is to capitalize on the synergies of the group to produce outcomes that represent the shared vision of the team.
Managing the Generational Difference
Each generation requires different leadership techniques as a product of their upbringing. Being raised with modern technology created new expectations, beginning with the millennial generation and now peaking with Gen Z. To satisfy the incoming workforce, companies need to consider employee wellness, co-mingling of work with socialization, and purpose-driven work assignments as a baseline for a desirable climate. The current generation of workers value creativity and autonomy and will perform best when provided mutually beneficial opportunities, a channel for community outreach, boundaries for tech use, and training on professional communication.
At Xavier Creative House, we incorporate business sustainability into our strategy, policies, and procedures. It is our way of supporting our global brands in pharmaceutical, biotech, medical device, and health systems. We invite you to join us in maintaining a CSR management system that ensures the future of environmental, ethical, and social business health. For the advantage of having a sustainable partner to grow your healthcare brand, contact us.