20 Oct Adaptive Leadership for High Growth Companies In the Age of Now
Are You Effectively Leading or Just Treading Water?
It’s clear that we’re in a new time. Information and the speed of which that information impacts our decisions is lighting fast and getting faster. This drives a new kind of business and requires flexible leadership in a new age. CEOs and leaders of all levels need to be able to work in a new era that uses many kinds of resources and uses them efficiently.
If you are a C-level exec, this means now more than ever, every move you make needs to be strategic.
According to PWC 20th CEO Study (2017), presented by the Corporate Agent, LLC, the question is, “How are CEOs looking more widely to find the skills they need?
They are mainly trawling in bigger bodies of water. But new strategies to find people and develop them will no longer be enough. The whole system within which people work will have to be considered. This includes reinforcing mechanisms like pay and reward and performance-enhancing mechanisms like coaching and feedback.
But it will be essential to help people manage the impact of turbulent environments, appoint executive teams that reflect the diversity of the employee pool and create a purpose and culture that inspire people.”
How is this done?
According to the PWC study, via the Real Deal, Miami (Oct. 2017):
First, CEOs Need to be asking some challenging questions.
- “Is your HR function ready to adapt to managing human and machine?” We are in just the beginning as machine learning and AI get more dynamic.
- “How are you going to find the rarer skills like leadership, creativity and adaptability required for your company to innovate and build brand differentiation?
- “Have you redesigned your business processes so that your employees are best placed to work seamlessly with automation to create new value?”
Companies will need to adapt, and more importantly, utilize resources differently to bring in revenue, meet their KPIs, and realize their measurement goals.
What this means for organizations is changing the way we work and changing the way leadership engages resources. This needs to be done better than before. As an entity that educates leadership in these areas, there are key themes that will help create conversations that matter.
In their book, STOP SPENDNG, START MANAGING, Tanya Menon and Leigh Thompson and from “Putting a Price on People Problems at Work”, August 2016, “How Much Money Executives Estimate They Waste Each Day” shows the following goes from least money spend to highest:
- Designing overly complex incentive schemes
- Investing in “Pet Projects” that do not have credibility
- Spending money on training that is not useful
- Busywork: employees show up but aren’t actually doing productive work
- Purchasing expensive technologies that don’t work
- Self-censoring to avoid voicing concerns about critical issues
- Spending to develop an innovation but failing to recognize its value until a competitor develops the same idea
- Unproductive conflict
What we know is that identifying the problems that are costing us is one thing and solving them and ultimately lowering their cost or taking them off the books is another.
Helping leadership gain consensus and produce solutions are worth both the commitment and the cost-savings to the bottom line.
What are your organization’s current biggest internal challenges?
Anne Mandler is a leadership, culture and communications speaker, educator, and writer. As CEO of Mind & Method, she teaches highly accomplished organizations and leaders effective communications strategy.