So I was quite interested in the report that HR consultants Hay Group dedicated to the subject. The report distinguishes 6 megatrends and investigates how they affect business leaders.
Hereby some of my highlights –to find out more you can always check the full online report here.
Globalization 2.0
- Asian management models increasingly important (fdm: too bad the report doesn’t explain what they mean with this);
- Local decision making => leadership needs increased cultural awareness, agility, cross-functional collaboration, lose control
- More sustainable business practices benefit the bottom line, although increases cost Leaders need to balance sustainability efforts with business success
Demographic change
- Lead with diversity: cross-gender, cross-generation, cross-culture (fdm: this topic would certainly have merited a deeper thought… what about the new environments to foster this? In my opinion the business conditions GenY wants is ultimately the same as what is required for elderly people to work longer: flexibility, remote work, crowdsourcing, …)
Individualization and value pluralism
- Leaders need to mutate from bosses to mediators and coaches, business needs to offer ‘tailor made’ business environment to their employees
Digital lifestyle and work
- Leaders need to find balance between virtual and face-to-face management
Technology convergence
- NBIC technologies (Nano, Bio, Info & cognitive) will open corporate structures, leaders’ collaboration and influencing skills need to be excel (fdm: this is rather opaque, not sure I fully grasp this)
Interesting report though hopefully just a start for further exploration (are these skills required across all industries, for instance?).
Interesting infographic from the report on how digital natives and changing workplaces are influencing leadership skills:
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