The old playbook doesn’t cut it anymore, ever since governments and corporations were flummoxed by the unpredictable nature of Covid-19.
- A leader needs to be empathic to create an environment of open communication and more effective feedback.
- A leader should heed the value of years of experience of a subject-matter expert in the decision-making process.
- It’s crucial to stay connected with the employees at the company and facilitate a healthy exchange of opinions and feedback for team-building.
- It is important to look for more ways for data-driven decision-making as groupthink decisions could be unfaltering.
The past year has been anything but ordinary for both individuals and organizations. While it has been some challenging times, it has also changed the perspective towards career, leadership, and life. People looked up to CEOs as strategic thinkers and decision-makers. The expectations from CEOs have changed in 2021. Leadership skills are seeing some stepping up with the shifting dynamics of the business world. The new rules of leadership in 2021 seem to include more trust and credibility. The COVID-induced transformation has moved the trust factor from the government towards the private sector, mainly on CEOs and senior leaders. The expectations are high, whether it is about racial injustice or other societal issues.
The 4 New Rules of Leadership in 2021
Developing empathic accuracy enables you to understand the feelings and emotions of the customers. Understanding the market needs is the key to success for all brands, and the same applies to leaders with an aspiration to win more than they lose. They did not understand people well and ticked them off as disposables, which caused a big challenge for any leadership role. The easier you know people, the easier it is to raise productive outcomes. Understanding people and their perspective is the key to successful leadership.
Balancing between intelligence and experience
Everybody cannot be good at everything. Understanding the value of experience and making well-informed decisions by considering subject matter expertise helps make sustainable decisions. It also gives it a collective touch to the decisions made, thereby reducing any resistance. Leaders often think that proficiency in one field can make them great at others too, which feels like intellectual arrogance and can lead to some not very popular decisions. The humility of acknowledging the lack of knowledge in a specific field and seeking inputs from the experts, and constantly staying curious makes for a better leader.
Stay connected with the pulse of customers
Staying connected with the pulse of internal and external customers enables leaders to make decisions in sync with them. Because when strategic decisions take place, it often impacts the employees of an organization. The question is would these decisions be successful if made in isolation. Well-informed decisions made by considering the thoughts of the subject matter experts are more likely to be successful and will also enable to utilize the workforce’s full potential. That is why it is crucial to building teams representing the employees‘ opinions and offering feedback actively during decision-making.
Leaders are known to hire people with similar beliefs, values, and thought processes. It can lead to groupthink and mask personal opinion. While decision-making should lead to the best solution when it is data-driven, decisions made through groupthink may end up suppressing voices and may not always lead to consensual choices.
Understanding the customer needs enables businesses to succeed. Similarly, leadership in 2021 requires leaders to understand the needs of their customers, and making decisions based on empathy is the key to success. Staying connected with the pulse of both the employees and the customers will enable leaders to make decisions that best utilize their workforce skills. While leaders previously were dependent on their echo chamber to make decisions today, it is essential to ensure the decisions are not a group think but made consensually without suppressing any views and opinions.
The popular notion is that leaders are experts in making strategic decisions. While leaders know the best, the changing scenario has opened up the possibility of a leader seeking out experts’ opinions to make data-driven decisions. Staying empathic, considering the expert’s opinion, humility, and staying connected with the organization’s pulse are a few sure-shot tips to success for the new-age CEOs with new leadership rules in 2021.