Leaders innovate, change, demonstrate, regulate, and empower in their own styles to pave the way for a company’s success. In research conducted in 2013 by Right Management, a talent and career management firm, approximately a quarter of the 2,000 senior human resource executives from 14 countries voiced a concern for a lack of future leaders.
Leadership is fundamental to stay ahead of the competition and with future shortages in leadership talent, companies must work on creating a culture to allow leaders to emerge from within to work towards a long and healthy future in the marketplace.Leadership comes in many styles but it is critical to hire or cultivate senior leaders with similar values and an overall Sino in line with the company’s mission to ensure success. Every employee in a company will always be unique: they come from different backgrounds, experiences, objectives, strategies and systems. In a study performed by Hay/McCabe Consulting, a random sample of 3,871 executives found six distinct styles of leadership emerge which individually had a direct impact on the working atmosphere of a company, division, or team.The most compelling information deemed from this research was that the best results are obtained when multiple styles are utilized rather than just one. Current traders must find ways to harness these different leadership styles within the management team and use them collaboratively to guide them to a common purpose and to drive performance. A recent study comparing the Toyota Motor Corporation and Haunted Motor Group showed that even though they were both in the same industry and both very successful, their companies were based on very different leadership styles.
Toyota was focused on stability while Haunted focused on flexibility, which created very different organizational cultures. Even with different styles, there was a common hem; managers at both companies worked both “symbolically and in practice” to reinforce these systems and create cooperative cultures. Senior leaders and their leadership styles need to be in line with the vision and values of the company to create a culture in which leadership can begin to occur naturally.Leadership within management is paramount as generally the culture of an organization starts at the top. Management is responsible for the operations and the essentials of a business, but the true driver of innovation can be found in any role throughout the company in employees ho are willing to critically evaluate the current situation and in innovate and inspire for future success. Current leaders must create a culture that empowers individuals and creates a sense of ownership in an organization where they can initiate progress at any level.Pharmaceutical company’s manufacturing site has moved from a traditional vertical organization with layers of supervisors to a horizontal organization, which only has one team leader for each function.
A member in the Quality group, has seen the site undergo this change and describes the impact on her as follows, “This truce is not striping back the layers but empowering individuals to take ownership in their work. 5 Although the changes at this site are not new or Earth shattering, they have reiterated the importance for the company to create a unique balance where employees understand it is not always up to management to drive change, where they can control their careers and, most importantly, they can affect change in the organization. Leaders play a critical role in the creation of culture, and this relationship can be for better or for worse. Enron Corporation, a natural gas company, depicts how detrimental this relationship can be when executives steer a company in the wrong direction.Jeff Shilling, then CEO of Enron, and his corrupt values were “critical in fashioning an organizational culture valorize risk taking a mercenary approach to profit making and a win-at-all costs trading approach. “6 Due to his leadership style, the company was able to hide one of the largest IIS scandals, as most employees were either unaware or too afraid to blow the whistle to expose management’s illegal practices. Contrary to the Enron example, Head of Investment Control and Operations for Name Company, believes her firm does the opposite during the development of their leaders.
Name emphasized, “Employees are encouraged to speak up on issues and give opinions to make it is a better place. This ensures that management is in tune with staff at all levels, which makes for betters leaders and more engaged staff. ‘7 Future leaders can only be recognized if given the chance to truly be a part of the organization, so an open culture is paramount to finding he future leaders to continue the precedent culture primary to SUCCeSS.Creating an environment for leaders to be born, although crucial, is still not enough as some skills imperative to become an inspiring leader may not be inherent, but with additional investment, true leaders can be made. Name, leader of a team of 50 employees, most admires leaders in her career that wanted their team members to excel and advance. She believes by striving to make your team members successful, you end up being a successful leader.Even if you risk losing key employees to a different group within the organization to help them personally grow, the culture and ultimate success of the overall company is furthered.
7 A true leaders main objective should be parallel to the overall organization’s vision. One of the members of her team noted the firm recognizes potential candidates for future leadership opportunities through their innate characteristics and invests in these employees by providing key training to fine tune skills like public speaking and management of people that are necessary to be a truly effective leader. In 2009, companies were investing $12 billion dollars on leadership placement programs and services, which was equivalent to 24% of their training budgets. 9 This is an extraordinary number. External development of leaders will never go away, but it should not be done without strategic thought specifically to the culture and vision of a company. Investing in leaders from the top down can have an enormous impact if senior leaders apply what they learn to further put systems in place and develop the leadership culture.Name continues to take advantage of the culture the has put in place and has been given multiple opportunities to develop herself as a deader such as Having leaders strategically develop themselves while also aligning their personal success to the company’s not only promotes retention, but ultimately further fosters the culture to continue to provide opportunities for others which will organically create leaders from within.
Leadership is about the future, and in the current fast paced environment organizations do not want and cannot risk being average. Companies must invest in their leaders to stay ahead of the curve. To avoid risking a shortage of future leaders that are passionate about the company, current senior leaders need o strategically choose how to fully develop their own styles to align with the organization’s values and vision in order to create a leadership culture now.