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How would you describe the leadership playbook of your organization?
Is it still a 20th-century leadership playbook where your leaders have a clear vision, strong authority, and a loyal team? They make all the decisions, set all the goals, and give all the directions. They are confident and respected.
Now , imagine your leaders using this playbook to navigate the future of work where they face rapid change, uncertainty, complexity, diversity, and innovation.
Are you confident that your leaders are well-equipped to navigate those new challenges?
The answer is, most probably, no.
A McKinsey & Company survey found that just 16% of executives see their current leadership development programs as highly effective for preparing leaders for the future of work challenges.
A Ken Blanchard Companies survey has found that 7% of annual sales are lost every year when a company delays leadership development.
As an industry leader, you are responsible for ensuring your leadership bench is ready to meet the challenges ahead. Leadership is dynamic, evolving with times, markets, and tech. Like businesses, leaders must adapt and refine or face harsh consequences.
The cost of not updating your leadership playbook could be more significant than you realize, impacting everything from employee morale to the bottom line.
Here are some of the hidden costs of an outdated and ineffective leadership playbook:
The hidden costs of not updating your leadership playbook are substantial. Failing to invest in leadership development and adaptability can lead to missed innovation, disengaged employees, ineffective remote work practices, diversity and inclusion gaps, diminished agility, and inadequate succession planning. As an industry leader, your role in ensuring that your leadership team is equipped for the future of work is paramount.
Here are some steps you can take to update your leadership playbook:
By taking these steps, you can help ensure that your organization has the leadership it needs to thrive in the future of work.
If you are looking for the best way to boost your leaders’ effectiveness and spark your business transformation, please feel free to contact me at firstname.lastname@example.org. I would be honored to help.