The accelerated pace of technological change is posing significant challenges for businesses in the shape of digital transformation and digital disruption which demands new specific capabilities from leaders.
Yet research undertaken by Rialto for its Supercharge your leadership skills for the future report revealed that one quarter of executives surveyed didn’t feel confident in having the skills required to move their organisations forward in the complex operating environment that exists.
Follow our five tips to help ensure you have the leadership skills and capabilities necessary for today as well as the organisation of the future.
1 Benchmark your skills
Undertake a skills assessment on yourself and examine your strengths and weaknesses. Elicit input from peers for a more 360-degree approach. Make use of tools such as the Rialto Accelerated Leadership Index (RALI) which will enable you to benchmark yourself against others in a similar/comparable position. Based on these findings, analyse where the skills gaps exist or where you fall short in terms of experience in specific areas compared to others and devise a development plan to address these shortcomings.
2 Build agility and adaptability to change
A key capability required by leaders in the current climate is to be able to adapt and respond to ever-changing market conditions. It requires an agile mindset and the ability to identify where and why change might be required and then to drive that transformation forward. The Rialto research found that almost half of respondents ranked agility as a top capability as a transformational leader. Crucially, leaders must also be able to engage the workforce with that transformation and remove any fear factors associated with it.
3 Learn to manage complexity
While organisational structures have become flatter and less hierarchical internally, companies are having to form more strategic partnerships externally to help access new markets and create new business opportunities. They also find themselves having to play their part in ecosystems – sometimes alongside competitor companies – to advance their own or a new sector. This means leaders must be able to manage complex stakeholder relationships and ensure that these partnerships deliver value for the organisation.
4 Connect with customers
Half of those respondents in Rialto’s research ranked customer centricity as one of the top capabilities required for the future. In the past, some leadership teams have appeared remote from their customer base but this situation will not be tolerated in the future. Customer experience is being touted as the new battleground. Forward-thinking leaders are putting their customer’s needs and experience at the centre of their strategies and this is evidenced by the increasing number of companies which are appointing customer experience (CX) managers.
5 Become an innovation champion
Innovation has always been the lifeblood of any organisation but any company which doesn’t prioritise it in the future runs the risk of stagnation. Visionary leaders recognise that innovation can come from anywhere in an organisation and instil a culture that ensures it flows freely. They also recognise that innovation isn’t only about developing new products and services but devising new processes and methods of working, too.
