The quality and strength of leadership are key to the long-term success of any business. Scott Crockett, Everest Business Funding CEO, says that how organizations are created, grow, and adapt all revolve around how their leaders act.
Organizations with strong leaders are often able to weather storms and build long-lasting enterprises. There are many different leadership styles, and which ones work better than others depends a lot on the current business landscape and society as a whole.
Below is a look at some trends and mindsets that will shape the future of leadership for the next decade.
The Change Mindset
Society today changes so rapidly that businesses need to change rapidly as well. From a leadership perspective, this means that those in charge of organizations must establish a change mindset.
Agile leaders will be necessary, as they’ll need to make quick decisions when new change and/or crisis hits. This will require leaders to not only have a pulse on the company and the world around them but also be comfortable under pressure and not afraid to try something new.
They’ll need to create organizations that are more fluid than they were in the past, and this could require a structure that isn’t as hierarchical.
The ‘Chef’ Mindset
The chef mindset is a term coined by Jacob Morgan, a keynote speaker and bestselling author. Just like chefs have to balance multiple ingredients if they want to create delicious meals, business leaders also have to balance two very essential ingredients for their organization — technology and humanity.
Leaders have to embrace technology and use it to improve efficiency throughout the organization. One of the big conversations recently regarding technology revolves around AI and how it can improve current business functions. Leaders have to understand new technologies and how to integrate them thoughtfully into the company.
At the same time, future leaders must provide their employees with a sense of caring and purpose. Employees today want to feel respected, seen, and heard. By being “human,” leaders can give them what they want and, in turn, retain more top talent.
The Change in Talent Landscape
Scott Crockett says that one thing that can’t be overlooked is how employees themselves are changing and how that affects the future of leadership.
Younger generations are increasingly becoming the majority of the workforce as older generations retire. Not only does this force business leaders to hunt for top talent more often, it forces them to do so in new and innovative ways.
It’s not just that companies need to offer better benefits packages that include perks such as, more generous PTO and the like. It’s also that they must approach recruiting and retaining talent — as well as upskilling and training employees — in a completely different way.
Future leaders need to be cognizant of attracting and developing top talent on diverse teams in an inclusive environment. They need to find a way to invest in helping employees grow their careers while figuring out how to motivate all employees to invest in their career development, regardless of their age.
This could be one of the biggest challenges that leaders of the future face, as they need this top talent to succeed in the long term.
About Scott Crockett
Scott Crockett is the founder and CEO of Everest Business Funding. He is a seasoned professional with 20 years of experience in the finance industry. Mr. Crockett’s track record includes raising more than $250 million in capital and creating thousands of jobs. Scott has founded, built, and managed several finance companies in the consumer and commercial finance sectors.
