There have been a lot of changes in the way businesses have operated in the past few years. Even post-pandemic; changes in technology, generational differences, employee/ employer expectations and so on, have resulted in businesses rethinking their normal operations, policies and management. 

More specifically, varying external and internal changes have caused leaders to adapt and adopt new skills, qualities and methodologies in leadership. In a fast-moving world, it can be difficult to remain on form and in line with new transformations and sometimes unpredictable changes. So, what transformations have occurred in leadership and how can you be a successful leader in a new and constantly changing era of business. 

Empowerment vs Power

The widely spoken of ‘generational gap’ is a contributing factor to this new era of leadership. In short, the dissimilar beliefs and values of the different generations has changed, and is changing the way leaders, lead. Gone are the days where power was exercised by calling the shots. The newer generation believes in empowerment. Peter Drucker stated the following:

“The leader of the past was a person who knew how to tell. The leader of the future will be a person who knows how to ask”

Peter Drucker

Bearing that in mind, power is now seen as something that is earned by way of empowering, collaborating with and developing those you are leading. This intricate relationship between empowerment and power is a significant driving force to success in this new era.

Modern Working

Modern working has been heavily driven by ever-improving technology. Technological advancements have allowed businesses to offer more fluid and flexible work opportunities. Working from home, distanced collaboration and additional employee benefits, are just a few of the perks. While it is great for businesses to move on with the times, managers and leaders have found themselves dealing with new problems. For instance, tracking employee productivity, managing communication, hiring remotely, and encouraging employees to have a healthy work-life balance. 

The question is, how do you successfully lead or manage with all these challenges and more? Research has shown that technology is in fact the solution to a problem that it has played a part in causing. Collaborative tools, software, hardware, and faster broadband have all helped. So, we have put together a of the 5 most recommended tools and software’s for you to use.

  • ClickUp
  • Teamwork
  • Paymo
  • SAP Business ByDesign

The Essentials

Employers have found that the rigid, traditional work style reduced efficiency, and made it nearly impossible to integrate distanced collaborations and accommodate generational differences. Leaders in this new era of collaborative leadership are expected to be forward-thinking, flexible and open to ideas. Of course, they have the final say, but everyone else wants to be heard and understood. Some research we recently conducted showed that 60% of professionals deem it necessary for a manager to be empathetic. 25% of the poll participants thought delegation was important and only 15% wanted their manager to show gratitude. 

The collaborative approach to leadership requires a visionary leader, someone who is accustomed to the rapidly changing technology and society.

For more information and useful tips to help develop your collaborative leadership skills, please contact us at: [email protected]. Also follow us on LinkedIn to hear more about a 4 part workshop for finance professionals we are hosting in May. The workshops will be led by a Business Coach, who helps leaders to reach their full potential.