What are people expecting from leaders today that is different from the last decade? I’ve been speaking to and with organizational leaders and their employees from around the country, and here’s what they’ve been saying business leaders must do today and over the next decade to regain a strong economic footing and compete successfully in our changing world.
Be a better risk manager. When they were flush with resources, many business leaders believed they could buy their way out of problems. Not any more. In addition to making sure they cover operational risks (such as workers’ comp, liability, and property losses), today’s leaders need to pay close attention to both speculative and environmental risks. In the past few years, we’ve seen large companies disappear because of careless speculative investing, and we’ve seen the huge financial and reputation losses associated with cleaning up environmental disasters.
Stay flexible. Businesses need to stay agile so they can move quickly when necessary. That means leaders must help their companies balance the important need to staff up to meet production needs with the equally important need to stay lean and flexible. Our economy craves job creation, but many of today’s leaders say they are looking at alternative ways of adding resources without encumbering their organizations.
Stay connected. Social networking systems are here to stay and are powerful ways for leaders to stay in touch with customers, colleagues, and employees. Further, as the use of social networking systems to refer and recommend products and services grows, leaders who stay connected can see and influence their organization’s on-line accessibility and reputation.
Prepare for workforce changes. The communities we live in today are very different from the communities in which many of us grew up. The population is older, more diverse, and more mobile. More women work outside the home, more men stay home with kids, and fewer young adults work. In today’s marketplace, there is a serious mismatch between the skills job seekers have and the skills businesses need. The next decade will bring even greater change. By 2020, more than half the workforce will be over the age of 45. Leaders must pay attention to the evolving talents, skills, and expectations of employees or they will risk losing the organization’s readiness to achieve business goals.
Be more than a COO. Operational excellence is imperative, but it’s not enough today. People are nervous about the present and uncertain about the future, so those at the top of organizations must inspire hope and optimism. More than anything, followers are looking for some emotional energy and leaders need to be there to help provide it. Leaders often forget they set the mood in their organizations. Leaders who aren’t feeling hopeful and optimistic themselves need to find a way to get there – quickly.
Have you thought about what the last decade has taught us and what the new decade will look like? How has the last decade changed the way you lead? What would you add to this list of what business leaders must do today and in the next decade? If you are a leader, what is your level of hope and optimism? What are the sources of your emotional fuel?
