3 focuses for leaders to consider during the 5th Industrial revolution
It’s easy to think of leadership as an age-old skill that doesn’t evolve. But it’s my belief that leadership skills are changing at rapid pace, and I’m not just saying this because I’m a leadership trainer! The challenges faced by leaders have shifted monumentally, fuelled by advances in digitisation, an increased awareness of people’s needs and of course the pandemic. But these challenges will ultimately create a generation of leaders who think differently, act faster and listen more. When viewed through this lens, it’s an exciting time but what should leaders be doing to be relevant today, and tomorrow?
Focus on a mindset of embracing technology first, becoming a practioner second.
AI marched through businesses at pace in 2023, and it’s not going to go away. Leaders can often feel left behind when they don’t understand all the tools available and how to use them. This in turn can create a state of threat and stress, and these are not good bedfellows for healthy innovative organisations. It’s my belief that leaders who adopt a mindset where technology is being treated as a constantly evolving opportunity will surpass those who simply become adept at using the current tools. Regular assessment of ways of working combined with considering how to refresh them will enable leaders to avoid viewing technology as a threat, and instead can reap the benefits of a growth mindset - including the creation of an innovative culture, increased accountability and confidence to overcome setbacks. Alongside embracing technology there must be an understanding that this quest is never ending. There is no real endpoint to settle back into, so we need to maintain the constant belief that technology can create opportunities if viewed with positivity. Of course, understanding tools and what they can do is also important, but for me the mindset must come first to trigger meaningful long-term success.
Create a regular ‘scanning’ habit.
Tools such as PESTLE, horizon scanning, and Porter’s five forces have long been rolled out as part of leadership training. But rather than view them as ‘old tools’ I believe they are more relevant today than ever before. The challenges leaders face is that with fast paced change even finding the time to slow down and take stock of what is changing beyond immediate projects can be difficult – and this is a vital issue. Consumer habits were drastically altered in the pandemic, and many patterns have failed to settle into predictable patterns. When combined with changing economic, technological and political conditions it’s no surprise that an increasing number of change initiatives are considerably morphed, or even overtaken by more pressing initiatives. And this makes end-to-end project mentality increasingly unrealistic. With a volatile (or VUCA) environment now often considered to be the norm, the need to look up and around us needs to be a regular habit, not simply an end of project or annual reflection. Leaders need to invest time and resource to scanning their environments and spotting change earlier to inform better, quicker and more flexible decision making.
Build culture with your people, not for them.
Despite countless articles focusing in on the needs of millennials and Gen Z, the truth is that an increased people-focus has become an agenda point on almost all company strategies in recent years. McKinsey’s “The states of organisations” report in 2023 highlighted the rise of hybrid ways of working, increased focus on supporting mental health, the need for self-aware leaders and a genuine drive for diversity, equity and inclusion. These are not simple topics to tackle, and in some areas there are limited ‘blueprints’ to follow as organisations navigate these changes. Instead, the insight can be drawn from the very people leaders have most access to: their people. Engagement levels are higher when employees are part of creating the change not simply adopting it. The power of social influence is higher when people feel their peers have been included in the process. Our own motivations are tapped into when we feel heard, valued and working towards shaping a future. So, for leaders I believe involving people is key. Couple this with transparency, especially when explaining why ideas cannot be taken forward and this can build authenticity, one of the most sought-after attributes in leadership right now. True culture is never built overnight but taking steps to ensure that people ‘feel’ the culture is likely to create the strongest foundation.
