3 Key Areas Leaders Should Focus On To Succeed In The Modern Workplace
The 20th century leadership model was all about authority & micromanagement with a focus on profit before people, however in the 21st century this is changing.
The digital revolution is transforming a transaction-based world into a relationship-based world, the landscape of the workforce is changing as more millennial's and Gen Z’s increase and people before profit is now the industry mantra.
Companies who are going to successfully navigate what has been described as the Fourth Industrial Revolution will need Leaders who know how to lead several groups of people with diverse perspectives and values at once and below are 3 keys areas leaders need to focus on to succeed.
Build Relationships
Leaders who make the time to get to know their teams will see an increase in productivity and engagement. The more you know someone the more you understand what motivates them and how to get the best out of them. Trust is also developed as you build relationship, which is critical because as Stephen R. Covey said:
“Without trust we don’t truly collaborate; we merely coordinate or, at best, cooperate. It is trust that transforms a group of people into a team.”
In a world where everyone is unique, there is no one-size-fits-all leadership strategy. Leaders must adapt to the requirements of their team to be able to lead them effectively.
There are so many hidden skills and talents underutilised within teams but until leaders take an interest in their people and meet them at a human relational level, they will never know the potential that hidden within their team.
Create Diverse Teams
It has been proven time and time again that diverse teams are more profitable, productive, innovative, increase market share and avoid groupthink to name a few points, beside the obvious moral fact that workplaces should mirror everyday lives.
Diverse team are more crucial than ever especially as Millenials and Gen Z increase in the workplace, but despite the reported circa $8 billion spent on diversity initiatives in the United States alone, the recruitment numbers have not shifted positively and a new approach is needed.
Research by Boston Consulting Group revealed, that people who do not believe their company is committed to diversity are three times more likely to leave their job in the next three years, than those who do.
Leaders who are serious about diversity need to move away from traditional recruitment methods which have reduced the talent tool and look into new recruiting tools and software such as HUNDRED5, GAPJUMPERS & TALENT SONAR to name a few.
“Leaders set the tone for their peers. Peers look up to them and say, ‘They’re doing it, so I’m doing it.’” -Chris Bosh
Create A Growth Culture
People more than ever want to do meaningful work therefore companies need to clarify their vision . The purpose of the business needs to be crystal clear and relatable. A recent survey by Great Place to Work reported that over 50 percent of Millennials were influenced to accept a job based on a company’s involvement with a cause.
The values of the business must be authentic and practised by the leaders in the way they treat their staff and conduct business. Leaders need to own up to their mistakes, by doing this they show their staff it’s okay to fail and make mistakes, we are all human. By creating this kind of culture leaders encourage innovation and outside the box thinking as people are not afraid to try new ways of working, the build a continuous improvement culture.
Leaders need to create a culture that works for the business as well as being flexible, prioritising mental health and work life balance. With the growth of technology for example, remote working should be built into the culture and be available if required. Workshops around nutrition, health and financial planning are programmes that when surveyed employees have requested, as it shows the company cares about them outside of work.
Leaders create leaders and the more opportunities available to learn and grow the happier and more engaged the workforce are. For example PURE Insurance, through their Passion Program gives employees $1,500 per year to explore whatever they choose & SAS Institute Inc has a training programme for staff on giving TED Talk type presentations. Both these companies are consistently on the Best Workplaces list.
Feedback is important, it has been proven leaders who create a culture where you have regular feedback sessions with the team, helping them stay on track with their goals, address any issues as well as provide feedback to the leader on things they can improve on, have seen an increase in retention and engagement at work.
Change is never easy but it is necessary and companies that embrace the changes required will succeed in the 21st Century.
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