"The shortage of talent"
It's a pretty good bet that, as you read this, somewhere in your competitor's camp there is an ongoing conversation about the qualities that describe tomorrow's leadership. Be it talent acquisition, succession, identifying high potential talent and/or shaping the investment in leadership, one thing is assured … tomorrow will not be a continuation of today.
We commonly see references to "the shortage of talent." Paradoxically, there is no shortage of talent. The growing number of business schools around the world, combined with the billions of dollars spent globally on leadership development means that there is actually a surfeit of candidates. The problem? The vast majority of those candidates are a great fit for a business environment that served us well in the past.
A more integrated, faster and, by a quantum step, more complex business environment demands not just a new way to think and act but a new definition of "leadership success." Exponential change fuelled by ongoing leaps in technology … exacerbated by unprecedented disruption on a global scale … is, indelibly, redefining what is meant by the term "TOP Talent."
As we move into unchartered territory - where only those organisations that are fast, flat, flexible, focused and fertile (to new ideas) will survive - TOP (Transforming, Outstanding, Performance tested) Talent refers to those fully equipped to excel in a, hitherto unknown, level of business and societal uncertainty.
TOP leadership competencies
Other than know-how in technology, which is a given, leadership competencies differ depending upon the role. This emphasises the need to develop "role-specific" leadership competencies. Generic competencies have value, e.g., the broad leadership development agenda, but they are less than useful, however, when making hiring and succession decisions. That understood, five TOP leadership competencies are emerging as having future primacy:
- A Passion to Learn
- Leadership Reach
- Comfort with Ambiguity
- Culture Savvy
In a world dominated by ideas, a move from cooperation to collaboration is essential - and inevitable. The environment and a new generation dominating the workplace mean that tribal loyalty will, of necessity, give way to a stronger sense of community. A community mindset, meanwhile, ushers in the dominance of stakeholder capital. How does your team make a difference in people's lives?
Although many are served by a more defused definition, "employee engagement" is about building a culture where opportunity and capability are aligned. To that end, any falloff in the fit between the speed of change in the business environment and a sense of personal growth - a perceived lack of currency in the job market - will quickly disillusion those the organisation most wants to retain. Why do your best people stay?
Finally, the fallibility of strategy means that, rather than being the by-product of a singular, linear direction, the organisation's culture must enable a range of potential future options to unfold. Becoming comfortable with being uncomfortable becomes the new norm.
Insights by John Burdett. Orxestra Inc., © 2018.
Insights from "Tomorrow's Leadership Will Be Different".