In Leadership 2030, Georg Vielmetter and Yvonne Sell provide a roadmap of broad trends that are reshaping markets, cultures, and companies. Based on research with Hay Group, a global management consultancy, they offer insights into six megatrends: the shift of economic power to Asia, the escalating war for talent, the environmental crisis, the erosion of customer loyalty and employees, the fusion of private and work life. and technological convergence. The authors show how these self-reinforcing trends call for enlightened leadership with the skills to engage an ever-widening circle of stakeholders. Gone are the days of self-centered, alpha male leadership. To survive the storm of megatrends, leaders will need to provide workers with greater autonomy while finding ways to respond to each customer’s unique needs.
The authors explain that there are six big changes underway that will reshape the demands of leadership in the future. From evolving cultural attitudes to environmental degradation, these “megatrends” will weed out leaders who don’t adapt.
1. Globalization in the future will have more to do with the shift of power to Asia than in the past. The growing middle class in many developing nations will create new opportunities, but also challenges as multinationals try to serve highly localized markets.
2. Climate change will drive resource scarcity, forcing leaders to fundamentally rethink their operations.
3. Rising wealth will drive demand for personalized products. Just as consumers seek more individualized experiences, so too will employees whose work need not be restricted by time and place.
4. The digital age will shift power to consumers and workers, away from traditional management structures. The digital world is already blurring the line between personal and professional life, while increasing organizational transparency.
5. Population aging will shrink the workforce and require leaders to adapt to intergenerational workplaces.
6. Various cutting-edge technologies will converge to open up new markets. Nanotechnology and biotechnology, in particular, will challenge leaders to invest in R&D programs and respond effectively to societal concerns.
The traditional alpha male leadership does not adapt well to this new era. Instead, leaders should focus on becoming more “altrocentric,” empowering others as a way to empower themselves and their organizations. Altrocentric leadership development begins with leaders asking questions about style and goals. Are they:
• Truly open and curious?
• Are you able to engage your colleagues in making meaning rather than just presenting one-way narratives?
• Providers with limited autonomy?
• Loyalty creators and managers of the organization’s reputation?
• Willing to collaborate with partners inside and outside the company?
