Creating a leadership pipeline is a process that every organization goes through. But, who exactly makes this decision?
These days, a majority of the workforce is filled with millennials who feel they are entitled to choose the future leadership of their company, but, how many of them actually get a chance to do so? In most cases, the existing CEO & the board of directors elect the next CEO. However, doesn’t that mean they are entangled in the past?
Success is a crucial process and there are very high chances for the present CEO to be a baby boomer. So, it is debatable whether he or she has the capacity to choose the future leader of the company who is apt to lead millennials in the workforce.
Effective leaders are the ones who have the potential to appreciate, understand as well as motivate their subordinates to put in their best effort at work and give in excellent results. To tell the truth, the organizations that are focused on choosing experienced professionals to take up the CEO position are suffering from shortsightedness.
Believe it or not, organizations like these are less likely to find leadership that is actually own the qualities of advancing and diversifying the business. Though it may seem strange, they are moving forward like a horse wearing its blinders on who can only see in the front but cannot watch what is going in the outskirts.
In other words, it is time for Millennials to rise and capture leadership positions. Here is how one can become an effective millennial leader.
- Have a global perspective
Gone are the days when a firm was functional in a single country or region and the leaders were required to keep tabs on the activities of the local market. Every company is going international and there is an acute need for CEOs who can gather knowledge of global markets to earn competitive advantage for their firm.
- Appreciate Disparate Culture
With Companies expanding their influence worldwide, their workforce does include professionals coming from just a single culture. Hence, millennial leaders must know how to tackle with and appreciate people belonging to different cultures. They are expected to understand that motivation techniques that are suited for one culture may not be apt for another.
- Get comfortable with contemporary technology
Being tech savvy is not just a prerequisite for the staff members anymore. The Top line of executives must have a comprehensive knowledge of the latest gadgets in the market. With the growth of the digital economy, any business leaders with no understanding of the tech sphere might face challenges in running a business.
- Share leadership
Presently, all organizations do not have a fixed hierarchy like the former times. Leading over a fluid network is the current trend and a millennial leader must know how to share work and responsibilities amongst other partners because if they don’t, there isn’t any guarantee for them to regain those partners, if once lost.