In the spring of 2019, MIT Sloan Management Review and Cognizant surveyed 4,394 global leaders, conducted 27 executive interviews, and facilitated focus group exchanges with next-gen emerging leaders worldwide to explore what the future of work portends for the future of leadership. The results were published in January 2020.
I’m happy to share some of the report’s outcomes with you. Enjoy the reading (source: The New Leadership Playbook for the Digital Age, MITSRM report).
‘Great leadership teams pay attention to cultivating not only the leadership competencies and skillsets needed to lead but also the mindsets required to build authentic and passionate communities of leaders.’
The report identifies three fundamental reasons why leaders aren’t as ready to lead in the digital economy as they think:
- A deficiency in digital savviness and outdated mindsets
- A series of blind spots that prevent from seeing a clear path forward
- Multiple embedded tensions that undermine strategic execution
According to the research: 82% of respondents say their companies need digitally savvy leaders but only 40% believe that their organizations are building robust leadership pipelines.
The findings also revealed four types of blind spots: strategic, cultural, human capital, and personal that may have a huge impact on the digital transformation process in your company.
- Human-capital blind spots exist when a company’s talent policies and practices are full of outdated hiring and promotion practices.
- Strategic blind spots appear when leaders fail to grasp the revolutionary changes upending the business models in their industries.
- Cultural blind spots come into play when organizational behaviors are so embedded that improvements become affronts to the norms.
- Personal blind spots exist when leaders deliberately or by default surround themselves with colleagues who enable old-world thinking.
And finally – the research identified four specific mindsets that represent the hallmarks of great leadership in the digital economy. These mindsets reflect the principles, values, and norms of trailblazing leaders.
So, dear leader – are you and your company ready for the new leadership required for the digital age? Contact us to start the journey, together.