4 Ways Top Companies Create Thriving Future Leaders

Many time-tested characteristics constitute not merely a good, but a great leader. Now more than ever, great leadership is crucial, as business continues to change at an exponentially rapid pace. The World Economic Forum’s 2016 “The Future of Work” report sheds light on the top skills 371 top global employers seek in future employees. The report found the top 10 employer-demanded skills were: 1) complex problem-solving, 2) critical thinking, 3) creativity, 4) people management, 5) coordinating with others, 6) emotional intelligence, 7) judgment and decision making, 8) service orientation, 9) negotiation and 10) cognitive flexibility.

Unquestionably, the report concluded the most in-demand competencies are “soft leadership skills…’ With the big demand for high powered leaders in the workplace, it’s important for companies to know how to not only position themselves to attract high-level leaders into their organizations but to cultivate leadership in their current employees. Which leads us to the question: How do companies create thriving future leaders? 

Here are 4 ways that top companies use to create future leaders: 

1. They Embrace an Entrepreneurial Mindset 

I’ve spent years studying the entrepreneurial mindset, a concept introduced to me in 2013 by Gary Schoeniger, the founder of the Entrepreneurial Learning Initiative. According to Schoeniger, “Entrepreneurship is more than an academic discipline. It is a mindset, a framework for thinking and acting that can empower anyone to succeed. And, in today’s rapidly changing, highly complex world, the need for entrepreneurial thinkers at all levels of society has never been greater.”

Most companies shy away from the entrepreneur mindset because they believe that it will cause employees to want to leave the company and go into business for themselves. This can not be farther from the truth. The entrepreneurial mindset emphasizes skill development, not just starting businesses. An entrepreneurial mindset can be defined as the set of attitudes, skills and behaviors that individuals need to succeed academically, personally and professionally. These may include initiative and self-direction, risk-taking, flexibility and adaptability, creativity and innovation, critical thinking and problem-solving. 

Having the ability to see opportunities, marshal resources and create value is a skillset that any employer should appreciate. To me, the term entrepreneurial mindset embodies a set of cross-functional life and professional skills that describe someone who is resourceful, innovative and creates value. The entrepreneurial mindset can be applied in many contexts. It applies to employees in large, hierarchical organizations, and it applies to community organizers, academics, inventors, doctors, lawyers, politicians, and public servants. In no way is it unique to startup companies, and the skills that are developed are relevant to everyone. Fostering independent thought sparks greater creativity and provides challenges that motivate employees and positively affect the bottom line.

2.They Maintain a Unified Vision

 As leaders who create leaders, it’s imperative to provide a clear vision aligned to a larger corporate goal. As humans, we are enormously curious creatures with an instinct to continually learn and optimally utilize the creative side of our brains. Each one of us – whether we are aware of it or not – is born to create. Knowing “why” we are doing something and what the ultimate end goal is, has never been more paramount. 

In our technologically advanced culture, it’s easy to allow daily distractions to take root in our minds, disrupting focus for employees and leaders. Solid and clearly communicated corporate vision and mission statements keep goals and values unified, leading to greater productivity and long-term growth and sustainability. Regardless of company size, a shared vision is required from the bottom to the top of the organization. If every individual, team and business unit has a clear concept of how their work contributes to broader company goals, they can work harmoniously to achieve them. 

At the individual level, employees should understand how their position is vital to the company’s success, making them feel valued and appreciated. Will their creativity help you create new and innovative products? Will their relationship-building and closing ability help drive revenue? Showing the importance of each employee’s role nurtures engagement and buy-in at the foundational level of your company—its people. 

At the team level, there should be an awareness of how the success of one impacts the other. When team members believe in a company’s vision, they have a greater sense of ownership and are more motivated to offer new ideas. When employees ask about vision, it typically falls into one of three categories: (1) Functional: they want to know how important their role is. (2) Social: they need a better way to talk about the future of the company externally. (3) Emotional: they want to feel part of something bigger and have comfort that their work is contributing to a successful endeavor.

Envision running your company like a conductor leads an orchestra. If you can write a score for each section and show them how to effectively play their part while blending with the others, truly beautiful music can be made.

3. They Emphasize and Utilize Effective Communications

 Communication is only effective if the message is received by those who need to and desire to hear it. Employee communications must be more than simply conveying the directives of management. Employee communications professionals must take responsibility for assisting with all communication flow within an organization. This means engaging in not only in top- down communication within the company but also in the inclusion of bottom-up and lateral communications.

Top-Down vs. Bottom-Up Management

 Throughout the history of business, one management style has dominated workplaces: top-down management. Supervisors tell their employees what tasks to complete, and employees complete them. This is still the basic structure for most organizations. However, as employers attempt to keep pace with the rapidly shifting economy, more companies are embracing bottom-up management styles that rely on employee feedback and independence.

 Both the top-down and bottom-up styles of management offer advantages. Both styles distinguish between high-level and low-level work, but how each management style achieves this objective varies widely. 

The top-down approach offers:

 -Creating clear lines of authority

-Standardizing products and services

-Facilitating quality control

-Streamlining tasks and achieving goals quickly

 The bottom-up approach utilizes alternative ways to achieve success:

-Forming a unique perception of the company, its goals and its employees

-Measuring operational risk (in terms of fraud, model and employee risk)

-Reallocating assets and decision-making power

-Giving a voice and creativity to all employees

Communications Best Practices:

Regardless of which leadership style you choose, effective communication is a must. 

Below are several tips on how to communicate powerfully:

-Research shows that less than 10 percent of the meaning of a message is carried through the actual words. As the age-old aphorism goes, “It’s not what you say, but how you say it.” Communicate face to face wherever you can.  

-Clarity and simplicity are key. Be aware of your messages. Make sure your communication is clear, concise and straight to the point. 

-Accountability. When you have a message that needs to be cascaded throughout the organization, give employees a deadline for making it happen and hold them accountable. To ensure the message was received, check-in with the lower levels of your organization. 

-Multiple means of communication. For important messages, don’t rely on one method, use multiple streams of communication: email, website, meetings, and conferences.

-Emphasize central talking points. Be sure to emphasize what is most important so it can’t be missed.

Great communication separates a poor leader from an exceptional one and great communication creates great leaders. When you communicate well, it prevents misunderstandings and encourages a healthy and peaceful work environment. Efficient and open communication with your team will also let you get work done quickly and professionally.  

4. They Ground it All in Ethics

 Ethical leadership is directed by respect for ethical beliefs and values and by the dignity and rights of others. It is related to concepts such as trust, honesty, consideration, charisma, and fairness. A leader's choices are influenced by his or her moral development. An effective and ethical leader has the following characteristics: respect, dignity, honor, integrity, customer- focus, results-orientation, risk-aversion, passion, and persistence. 

Nurturing leadership can raise an organization's culture and employee's values to higher levels of ethical behavior. By demonstrating ethical leadership, we promote a high level of integrity that stimulates a sense of trustworthiness and encourages subordinates to accept and follow our vision. An ethical leader demonstrates character, morals, and virtue in their work, focusing on the needs and rights of others and their employees. 

Leadership in business ethics can encompass a broad spectrum of areas. You can improve the company’s reputation and credibility by emphasizing ethical decisions, behaviors, boundaries, and ideas. Demonstrating appropriate business ethics can build a team culture, as it provides measurable benchmarks for employees to follow as they make independent decisions in their daily duties. If a leader is an ethical role model and encourages high standards, the company will be viewed in high regard by outsiders and other leaders alike.  

Creating your companies future leaders begins by focusing and taking action today.! 

Top Companies have been focusing on and implementing these four areas – Entrepreneurial Mindset, Unified Vision, Effective Communications and Ethics- in order to cultivate leaders within their companies and also improve employee retention. 

Imagine what could happen to your company or organization if you began to do the same?

If you are interested in learning more about cultivating leaders and effective leadership methodologies inside of your company and what it can do for your bottom line, or learning about our Global ELEVATE 5-Star VIP Leadership Program, please message me for more information or to have my assistant set up a discovery call.!

About the Author:

Nadene Joy is an Executive Leadership and Development Consultant. She has worked alongside some of the most prominent leaders of our time and is one of the most renowned consultants for businesses desiring to accelerate present and future growth to keep up with exponential changes businesses are facing today.

Nadene Joy is a genius at pinpointing shortcomings where businesses and leaders could improve upon to rapidly increase cash flow, profitability, increasing company morale including employee retention, as well as getting to the underlying root of the main setbacks being faced in business before they escalate beyond repair. She inspires, educates and trains leaders, corporations and entrepreneurs worldwide helping them grow their businesses and income while making their desired impact in the world.