Change management is no longer a term that denotes only operational improvements, cost efficiencies and process reengineering. Change management has become a much bigger, more interwoven part of the overall business fabric – an embedded leadership requirement that plays into everything that we do, every day, and how we go about getting things done, regardless of hierarchy or rank. In the end, every leader must be a change agent .
For many leaders, their primary roles and responsibilities have rapidly evolved. For example, when was the last time you reviewed your job description? Isn’t it fair to say that it has or soon will become outdated – that your company is changing so fast it needs a refresh? How about your job title? Does it really describe what you are accountable for? In fact, the requirements to be a successful leader have forced many to reinvent themselves in order to reclaim their relevancy. As a Fortune 250 executive recently told me, “If I don’t reinvent myself quickly, I won’t be around much longer.”
Without strategy, change is merely substitution not evolution.
If you don’t know where you want your business to go, how you want your employees and customers to grow, and what your plan is to get there – your intentions don’t really matter. Unfortunately, many leaders don’t take the time to define their strategy for change, as this represents the basis for ultimate accountability and action. If leaders don’t feel comfortable with renewal and reinvention, they will begin to lose their impact and influence quickly.
Change is the new normal for leadership success and all leaders must accept this fact.
Leadership in the 21st century not only requires the ability to continuously manage crisis and change – but also the circular vision to see around, beneath and beyond the obvious in order to anticipate the unexpected before circumstances force your hand. As you embark upon your change management journey, here are ten things that will challenge your capabilities as a change agent and potentially become defining moments along your leadership success path.
1. Multigenerational Influence
Leaders can no longer be comfortable just gravitating to the generation they belong to. Connecting the dots of talent, unique perspectives and experiences requires all leaders to change their attitude, approach and style to accommodate the needs and seize the opportunities that lie within a broader multigenerational reach.
Don’t get stuck within the confines of the generation that you are most familiar with. Get out of your comfort zone and learn how to multiply the opportunities for growth and innovation; invest time to understand the insights in the broader field of talent and customers that lie around and in front of you.
I took this leap of faith 10 years ago when I started a new technology venture with a partner who was 15 years younger than me. We agreed that our partnership would be more successful if we mentored each other. I would teach him about business/leadership and he would teach me about technology and digital platforms. Not only did we develop a successful business model, but we both strengthened our core competencies because we accepted and learned from our generational differences.
2. Cultural Intelligence
The opportunities embedded in the rapid demographic shift are endless, yet the lack of cultural intelligence is making it difficult for leaders to understand the new business models and best practice requirements that lie right within reach. Success in today’s global market requires a leader’s ability to see the talent and consumer landscape as two sides of the same coin; they are interdependent variables that must work in lockstep for your workforce and business to flourish.
The 21st century leader must be more culturally intelligent about others (as well as themselves) in order to finally realize the value of the demographic shift. Culture is the new currency for growth and leaders must change their perspectives about diversity from being a cost center (focused on the representation of women and minority groups) to a profit center (innovative new products, services and solutions). The marketplace is teaching us all that talent acquisition and consumer engagement are about seeing through the lens of a mosaic that gives us greater strategic focus, not of a melting pot that gets lost in translation.
Eric Llopis, Senior Vice President at Aramark, sums it up this way: “In a world of mature categories and consumers with near-immediate access to information and substitutes, growth requires hyper-market segmentation and the ability to have deep and rich conversations with target consumers. Cultural intelligence is a critical variable to create value propositions that deliver solutions on their terms.”
3. Global Market Wisdom
The manner in which business is conducted outside of the United States is much different, yet many of today’s workplace leaders are not privy to the wisdom required to conduct business globally. Business outside of the United States respects wisdom equally to knowledge, as well as proper conduct, tact and executive presence. Conducting business abroad is about the total experience a leader can bring to the table that is consistent, original and true. Self-promotion, lack of values and sensationalism will get you nowhere.
It’s not about recognition, but about respect. Relationships are earned, not purchased. While your organization’s brand reputation carries weight, just as important is getting to know who you are as an individual, what you stand for, your leadership influence, and the intangibles that help you earn trust.
In many respects, the term “leadership” has become a commoditized term in the United States, while globally it holds more value, meaning, and purpose.
4. Consumers Demand Much More
As leaders, you must touch the business just as much as you lead it. Leaders can never forget about the customers that contribute to the growth of their business and must never grow complacent about understanding their changing needs and demands.
Today’s consumer is much more fickle; they are drowning in the noise and clouded by the choices that are in front of them — that are attempting to sway them and influence what they buy. As such, consumers have become much more demanding and it’s more difficult to earn their loyalty and trust.
Leaders, regardless of hierarchy or rank, are affected by consumer behavior; therefore, they must change the lens that they see through in order to be more mindful and educate themselves (and their teams) about consumer demands – which are what ultimately change the course of action taken. In many respects, leaders must become general managers of their business, knowing enough about how each part of the business impacts them directly and indirectly so they can be more proactive in their thinking, planning and execution.
5. Women Leaders Are Ready to Dive In
More women will assume senior executive leadership roles in the next 10 years, and if you are a male leader, be open to the new opportunities this represents. Women are ready to command the leadership space by diving in, not just leaning in — to solidify their influence in the business world.
Women see through a different lens then men and thus interpret the requirements of leadership differently. Fortunately for women leaders, their most undervalued natural leadership traits are now in high-demand.
Leaders must carefully assess their approach and style and challenge themselves to think differently about how to best align their leadership attributes to the needs of the business and the marketplace as a whole..
6. Entrepreneurial Attitude
The fiercely competitive marketplace has made it mandatory for leaders to be more entrepreneurial, connect the dots of opportunity and find non-traditional ways for their business to grow and prosper. Beyond creativity with the existing business at-hand, leaders must be prepared to get involved in new ventures that may require them to open up new markets, launch new products, and/or be involved in merger and acquisition activities.
Clayton Corwin, Founder and President of StoneCreek Company, an investment and real estate development company, “In today’s world of specialization, successful leaders need to get out of their industry lane and see what is going on in other sectors that has application to their worlds. This sort of cross-training creates valuable insights to otherwise missed opportunities for innovation and growth.”
Because the market is changing so quickly, the entrepreneurial attitude is in high-demand and has become the new unwritten requirement in a leader’s job description.
7. Technology
You may not be technologically savvy, but you must get to know the role that technology plays in the evolution of your business – beyond IT, social media, websites, apps, etc. Don’t simply depend on your Chief Technology Officer (CTO) to lead the way. As a leader in your business, change your mindset and educate yourself and those around you. If you plan on being in a leadership role for the rest of your career, the 21st century demands that you be knowledgeable enough about technology to test it, engage with it and use it to harness the profitable evolution of your business.
When was the last time you asked about the role that technology plays in your business? If it’s been a while, start to inquire and you will be amazed at how dependent your business is or soon will be on technology.
As Rich Melcombe, President & CEO of Richmel Media & Productions, advises, “Desperately clinging to the status quo is a recipe for failure. Technology is here, and it can change, improve or evolve with the blink of an eye. Embrace it or accept the consequences. Your business will not be as competitive without it.”
8. Crisis Management
More and more businesses are dealing with crisis management issues because their leaders didn’t have the circular vision to anticipate the unexpected. Don’t let your corporate challenges become headline news.
Leaders must be more prepared to handle any crisis with nimble agility and elegant transparency. The advent of social media – and a national media hungry to sensationalize any misstep – requires more leaders to have the necessary preparation, resources, and technologies to respond to a potential crisis in a timely and responsible fashion whenever needed.
Leaders must learn how to speak to the media and use those same skills when talking to their employees about any crisis situation. Do you know what to say (or not to say), how to deliver a message and how to go about taking action when crisis strikes in your business? Most leaders don’t and thus lose valuable time, putting their companies at risk. Remember, not every company has advanced protocols and a large corporate communications team to rely on – thus putting the onus on their leaders.
Rich Melcombe adds: “People and companies have to be authentic. Anything that smells of being disingenuous devalues credibility. It’s really quite simple: be forthcoming. In a connected world, if you are not telling the truth, someone else will spin their version of it for you.”
9. Thought Leadership
Today’s leaders must be bold, articulate and courageous visionaries that are not afraid to speak-up and change the conversation and/or introduce new ideas and ideals. Being a constructively disruptive leader is important and if you are not pushing your organization, its employees and the industry at large to think differently, you will not only grow complacent – you will forget how to think like a leader and as a consequence your organization will become more vulnerable to its competitors.
Clayton Corwin adds: “Complacency is the silent killer that comes with success. If you don’t wake up every morning hungry and thinking how you are going to compete and win, you are already in trouble — because that is exactly what your industry challengers are doing.”
Thought leadership is about thinking differently and not being afraid to express those differences to keep people honest – to enable fresh-thinking and thought-provoking dialogue that challenges people to perform better and more creatively. Unfortunately, most leaders use the thinking and ideas of others, rather than challenging themselves to create an original leadership identity/personal brand that has sustainable impact and influence. In fact, leaders that lack the expression of original thought will soon find themselves losing their competitive edge, power, and decision-making authority – and the doors their job title once opened for them will begin to close.
10. Evolution of the Business Model
The examples of points 1 – 9 describe a business environment that is changing rapidly and that requires its leaders to change just as rapidly to keep up. The result of these changes is the natural evolution of a company’s business model that now demands that its leaders serve as change agents to lift and lead the entire company.
As change agents, you must know how to sell change and this requires a set of skills that you may not have been originally asked to have when you first got the job. As such, you must now learn how to be a change agent and assume the responsibilities that go with it.
Rich Melcombe concludes: “Running any business today is about relevancy and connecting to your market. It begins with cultural awareness and reflection to formulate a competitive vision, which might change daily. Technology, globalization, and a lousy economy have made dancing on the razor’s edge of change difficult. Businesses need to rethink their value proposition and embrace innovation, and it starts with acknowledging reality and becoming a change agent.
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