As the society transforms and develops, so do the challenges in the workplace. A great leader must adapt to economic forces as well as the technological advancements that have a direct or indirect impact one’s team or organization.
Below are some leadership challenges and how to address them.
- Advancements in technology
Leaders may find it challenging to adjust after certain tech tools become obsolete within a short time frame. It is therefore advisable for a business leader to use the gadgets to their advantage.
Various industries and global business have access to a wide range of prospects through the internet. The previously untapped market opens a door for leaders to understand what takes place in those markets.
“One is affected by globalization, whether as an individual consumer business owner or an executive,” noted Shirly Engelmeier, the author of a book titled “Become an Inclusive Leader.”
- Demographic Shifts
Apart from globalization, the current business world faces a significant shift in demographics. In recent years, spending power and disposable income have increased tremendously for Generation Y, and Latino as well as African-American populations. As a result, it is essential to adopt various input in the workplace to become accustomed to this changes in the market.
- Customer satisfaction and incentives
The key to success is offering customers a product or services that satisfy their diverse needs. As a business leader, it is necessary to find out exactly what the customers want. The CEO of Nautilus- a home fitness solution provider, Bruce Cazenave believes that majority of current leaders have difficulties in establishing the complex, dynamic requirements of customers.
Bruce recommends business leaders to spend time with customers and let their voices inform changes as well drive progress within the company. They can accomplish it through consumer insight research, personal visits, trade shows, and social media among other communication channels.
- Information and choice availed to the employees
The workforce can share opinions about their employers through websites such as Rate My Employer and Glassdoor. Consequently, candidates may form an opinion about the organization before contact.
Leaders should lead by promoting a strong culture of respect and collaboration in an organization to enhance an excellent impression to outside world. Building such a culture encompasses treating team members as volunteers motivated by the desire to produce results other than benefits and salary.