Hay Group Report: Key Global Trends Impacting Leadership
MEDIA RELEASE:
Hay Group Report: Key Global Trends Impacting Leadership
Sydney - September 20, 2011 - In a
foresight report released today, Hay Group
"Shifting trends
indicate that the next generation of leaders will need to be
adept conceptual and strategic thinkers, have deep integrity
and intellectual openness, and find new ways to create
loyalty among employees," said Wendy Montague, Head of
Leadership and Talent Practice, at Hay Group
The report,
Leadership 2030
1. Globalisation 2.0: As globalisation accelerates, the new business world will be characterised by increasingly diverse teams and declining loyalty between organisations and employees. The balance of power will shift to Asia, a global middle class will rise, and greater inter-connectedness will result in greater volatility in the economic markets.
Leadership Impact: Companies will need to be more agile and collaborative to manage the global/local divide; their leaders will need to be flexible, internationally mobile and culturally sensitive, and they must have strong conceptual and strategic thinking capabilities in order to manage risk and cope with the dangers and uncertainties associated with globalisation.
2. Climate Change: Rising emissions and temperatures will be further aggravated by growing residential and industrial waste in developing nations. The scarcity of strategic resources like water, minerals and fossil fuels could trigger price hikes and violent conflict.
Leadership Impact: Organisations will be forced to lower their eco-footprint, adapt to rising operational costs and restructure along sustainable lines; leaders will need outstanding cognitive skills to balance the competing demands of financial success, social responsibility and environmental custodianship, and must act as change agents, advocating environmentally responsible business practices.
3. Demographic Shifts: As
the world population grows and ages, demographic imbalances
are emerging, leading to skills shortages in some areas and
increasing migration.
Leadership Impact: For organisations, fewer people means the war for talent will continue to rage; leaders will need to attract, motivate and retain increasingly diverse teams and find ways to develop and promote the growing numbers of international migrants, women and older people into leadership positions.
4.
Digital Lifestyle and Work: Technology will continue to blur
the boundaries between private and work lives, will broaden
generational divides, and will shift power to employees with
extensive digital skills-particularly the rising class of
"knowledge workers," who can work anywhere.
Leadership Impact: As organisations become increasingly virtual, leaders must recognise and harness the critical skills of digital natives, foster collaboration between them and traditional workers, and encourage high levels of openness, integrity and sincerity to build reputation in a more transparent world.
"These trends are not only transforming our businesses, governments and societies, they are significantly impacting the characteristics we will associate with successful leadership in the decades ahead," added Montague. "To thrive in the future, leaders will have to become more nimble and adaptable, guiding organisations to revolutionise their cultures, structures, systems and processes."
Hay Group carried out its Leadership 2030
research with the Cologne, Germany-based foresight company,
Z-Punkt.
Visit { http://bit.ly/ro3bBy } to learn more about the report and to view a short video on Hay Group's two prototype executives, Jana Radulescu and John Kaipanen, exemplary leaders of the future.
Jana Radulescu is also on Facebook at http://on.fb.me/qEyWco, and ongoing discussions about the study will take place on the Leadership 2030 LinkedIn page: http://linkd.in/h0GQ6F.
About
Hay Group
Hay
Group is a global consulting firm that works with leaders to
transform strategy into reality. We develop talent, organise
people to be more effective, and motivate them to perform at
their best. With 85 offices in 49 countries, we work with
over 7,000 clients across the world. Our clients are from
the private, public, and not-for-profit sectors, across
every major industry and represent diverse business
challenges. Our focus is on making change happen and helping
people and organisations realise their
potential.
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