Moving into an age where digitization trumps all forms of evolution, leadership will play a significant role in the development of a company. Therefore, with the high-speed revolution of technology, leadership will also change significantly in the next decade, or it HAS to in order to manage teams that come with a different perspective than in the present or past. We would like to cover some areas predicted in the next decade that will shape leadership styles in the future
The Rise of The Remote Empire
Post Covid-19, many businesses understood the need for a hybrid model where clocking in was not always necessary. The rise of remote working has been on the incline since more and more workers are asking for a remote working environment to avoid daily transit times. It has considerably increased the happiness index and productivity of the workers.
Therefore, in the future, a leader will not only have to accept the physical non-availability of his under command but also help shape company policies to attract significant talent that will go away if the hybrid model is offered. Furthermore, the rise of remote work has also led to the emergence of new leadership styles that prioritize communication, collaboration, and trust-building. Leaders must leverage technology to foster communication and collaboration while building trust and a sense of shared purpose among team members.
Emotional Intelligence
With remote working and cross-border teams becoming a norm in the future, a leader must have a high EI index to understand the needs of a multi-culture diverse team, especially when one might never meet a team member in person. In the next decade, we will likely see a shift towards leaders who possess high EI and can easily navigate complex emotional landscapes. Leaders must develop cognitive skills like empathy, active listening, self-awareness, and connecting to increase their EI, which will help them lead the team rather than dragging it.
The Millennials Effect
With the Millennials taking an active role in the higher echelon of companies, the "just do it" attitude of type writer-era leaders might create more friction than harmony. Millennials are capable of doing things only when they understand their importance. Therefore, the end-result or profit might not be their driving force, but instead, it's the purpose that motivates them. Therefore, as a leader, one must understand this, especially one with Millennials in his team.
The world is changing, and so are leadership styles. Previously, leaders were supervisors focused on getting tasks done quickly and effectively at any cost. That's changed, especially as Millennials have taken on more roles in the business world. Therefore, older generations and those in leadership positions need to keep an eye on how millennials are changing the workplace and what future leaders (from the past era) can do to evolve with them.
More Purpose; Less Money
The generations of the past (over three decades ago) worked for survival, a house, and running water. The generation coming up next did not fear survival and worked for prestige or to make a name. The current and future generation has both, so money (if not in abundance) might never move their motivation needle. Therefore, as leaders of the future generation, one needs to associate purpose with every task, mission, and short/long-term goal. Only then will you get the best out of these Ed Shereen listening with working people, something the older generations could never have even imagined.
The AI Junction
A chatbot might have written this blog in under 10 seconds, missing the human touch. However, as AI models progress and become more advance, the dumb questions might have to be rooted out of a leader's book. AI-powered tools can help people work better and help leaders make better decisions, automate routine tasks, and analyze vast amounts of data to identify patterns and trends. Therefore, getting on the boat and learning AI is paramount for leaders in the next decade. However, it is important to note that AI should not replace human decision-making entirely, and leaders should use AI as a tool to augment their decision-making capabilities.
Flat Hierarchies
While leadership is important, flat hierarchies are becoming more and more popular in the world of business. This model ensures that a leader sees himself as a member of the team rather than being just someone giving instructions. The ideal example of such leadership (which has always been amongst us) is any sporting team captain. Not only does he lead his team, but has the extra responsibility to show the best effort on the field for spectators to see and his teammates to follow. Toxic alpha traits might not produce results in the future for a leader running a multi-culture, hybrid mode, Millenials + Gen Z/Alpha team. However, not every business should embrace the flat hierarchy, of course, but those who do will find something uniquely interesting in terms of its potential rewards.
Generation Z and Generation Alpha Effect
Millennials have already impacted the global workforce, but in the coming decade, Gen Z and Generation Alpha will enter the job market, influencing the future of work and leadership. As digital natives, they will bring different ways of presenting themselves and interacting with the world, which will challenge organizations to manage multi-generational diversity. These younger generations will also prioritize purpose over salary and have social value expectations towards their employers. With much of their learning online, managing their needs and expectations will require greater organizational flexibility and leadership. Overall, Gen Z and Alpha will significantly impact the future of work and leadership.
In the next decade, the future of leadership is poised for substantial transformations due to emerging trends and technologies that will impact how we manage and lead teams. Remote work, diversity and inclusion, artificial intelligence, and emotional intelligence are expected to become even more important in the future. As organizations adapt to these changes, leaders must be prepared to adjust their leadership styles accordingly by managing distributed teams efficiently, developing high emotional intelligence to navigate complex emotional landscapes, utilizing AI to make informed decisions, and prioritizing diversity and inclusion to foster inclusive environments where all team members feel valued and respected.
Additional References:
Comments