For decades the traditional image of business leaders was one of confident individuals with all the answers.
But the changing workplace landscape and the importance of stakeholder engagement has seen those loud and often borderline-arrogant bosses consigned to history.
The New Alphas – as they have been tagged – are still determined to lead. But their purpose-led approach has seen them adopt a more collaborative approach, where they are more likely to own up to their mistakes, as well as sharing their team’s success.
COVID-19 has seen that process move into turbo drive.
The pandemic also added an extra element of self-doubt into the equation, which highlights the need to embrace a team-faced strategy where communication is key.
This move away from overconfidence is a familiar trend to New Work Consulting director Julissa Shrewsbury, who will lead a webinar for FINSIA members on Developing a Leadership Brand in Finance next month.
Julissa, who specialises in helping professionals improve the way they communicate their own and the business’ brand, said: “We have seen a significant move away from high achievers and leaders needing to know all the answers over the past few years. Even in traditionally assertive and even competitive industries like Banking and Finance, we are seeing a shift to more inclusive practices and ‘human’ communications.
“Leaders recognise the need to involve team members and have a collaborative approach to problem-solving, and yet be able to demonstrate a clear leadership style that focuses on the organisation’s priorities, such as strategic thinking, communicating a vision, and empowering others on the journey.
“They know there is no point bringing someone on board and not letting them utilise their skills. So they have to place their trust in those individuals, making this part of their leadership style.”
It certainly looks like the right way forward, according to recent surveys of business leaders who admit decision-making has become significantly more difficult since the pandemic – with 65% of the leaders of large and medium-sized business saying decision-making had become more difficult. For smaller businesses the figure was 54%.
These figures are not surprising, according to Julissa, who has worked with dozens of organisations and business leaders, including those on the C-suite and Board directors.
“I have spoken to so many leaders – even senior leaders who are recognisable names – who admit they are full of thoughts that are blocking them from achieving more impact,” said Julissa, who will be talking about taking an intentional approach to leadership brand-building and bringing your teams along for the journey as part of the webinar next month.
The fact that the survey respondents admitted these factors are leading to mistakes also points towards a team-based approach to leadership.
This is especially the case for larger firms. While 23% of small and micro businesses say they made mistakes, that number almost doubles to 43% for medium and larger businesses.
Don't miss out on Julissa's webinar when she will be delving into the special requirements needed by Finance Leaders. Find out more and register here
