Entrepreneurship, MBA

A leader for the new age

A leader for the new age

A leader for the new age

The year is coming to an end, and so is the decade. The past decade has seen major changes in all existing sectors and has given rise to new sectors. Social media has taken over the world, self-driving cars have arrived, and we have banking facilities at our fingertips and the list can go on and on.

The changes in the industry are crystal clear when we compare the start and the end of the decade. How these changes have been implemented in this world?

There are underrated players in the industry who facilitate these changes. The reason we call them underrated is because their efforts are not visible to our eyes, but we see the end products. A lot of changes in our lives happen, without us realizing them, as they are implemented very smoothly.

A leader is the one who holds an organization together. He is the ultimate go to person for all employees, clients and vendors. So, what makes this position so unique and demanding? In today’s ever changing world, which traits would make a leader competent?

 

  1. Eagerness to learn: Technologies impact businesses in a unique way. It is a given that a firm needs to adapt to the new tech or risk losing its share of the market. Customers love innovation and are instantly attracted towards it. This is the reason why we say, “leader must be eager to learn”. An ideal leader must be curious about new innovations and trends, so that he can implement the right ones in his company. This eagerness to learn ensures that the leader is open to his subordinates’ thoughts. It not only helps creating a positive work atmosphere but also welcomes new ideas that could benefit the organization.

 

  1. Value your workforce: This is probably one of those tips that you have been receiving throughout the past decade or more. The problem is that not everyone follows this which leads to dissatisfaction among the employees. In a world that is so closely connected, it is very important to stand out from the rest. It will help develop a sense of inclusiveness among the workforce, which will be directly visible in their work.

 

  1. Empower the workforce: Any leader will be a little skeptical of this point. A lot of us might even see it as being risky. So why empower the employees, who do not have adequate experience? Digitization has made sure that employees have quick access to resources that is needed for their work. This should kick out the process of going through different levels for getting the required data and go ahead with any particular work. Employees should feel free to make any decision that could benefit the organization. The leaders in turn must assess these decisions to increase the efficiency and quality.

 

Some of you might mention, that these are easier said than done. Let us quote an example from the Indian IT industry:-

There was a point in 2014 when Infosys, a Bangalore based multi-billion dollar company was struggling. Their results weren’t up to the mark which saw its share price fall sharply.

In came Vishal Sikka, who was appointed as the CEO of this firm and asked to change its fortunes.

In the 2 months prior to his joining, 1 in 5 employees were leaving the organization. To change this, he promoted over 5000 people in the organization, with a pay rise.

The second change he brought in was to change the company from being low cost to high quality. The idea was that people are willing to pay more for better services. Along with this, he held “design thinking workshops” for his employees who were encouraged to come up with ideas to be more efficient on projects.

In 2015, he made sure Infosys was up to date with the latest industry technology. They just couldn’t compete with their western counterparts with the existing tech forever.

He even decided to move the corporate focus to Artificial Intelligence (AI). This will again benefit the firm in the longer run, as all major MNCs are now moving towards AI.

All the decisions Mr. Sikka took started showing results. The attrition rate dropped sharply and, the business started showing green shoots of growth. Infosys witnessed the highest rate of business growth in almost 5 years. All this resulted in a motivated and confident workforce – which was highly productive as compared to the past and their industry peers.

Conclusion

Now that we have seen an Indian example, you can imagine how important it is to have a perfect role model for a leader. Ensuring there is growth, keeping staff satisfied and creating a positive atmosphere for all your employees is crucial!

We at BSE Institute and IIM Lucknow offer you a chance to follow the footsteps of great management leaders with our Advanced Management Program. Learn leadership and get the designation you deserve.

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