{"id":2147,"date":"2022-01-04T12:43:10","date_gmt":"2022-01-04T11:43:10","guid":{"rendered":"https:\/\/www.theofficialboard.com\/blog\/?p=2147"},"modified":"2024-05-28T19:21:02","modified_gmt":"2024-05-28T18:21:02","slug":"five-strategies-to-expand-your-leadership","status":"publish","type":"post","link":"https:\/\/www.theofficialboard.com\/blog\/hr\/five-strategies-to-expand-your-leadership\/","title":{"rendered":"Five Strategies to Expand Your Leadership"},"content":{"rendered":"\n

Boris Groysberg and Katherine Connolly Baden
Harvard Business School<\/em><\/p>\n\n\n\n

Print or download<\/a><\/p>\n\n\n\n

Even in the best times, executives routinely experience some level of challenge with skill obsolescence.<\/p>\n\n\n\n

Organizational leaderships keeps evolving<\/h5>\n\n\n\n

This is simply the nature of organizational leadership in the 21st<\/sup> century; some skills necessary to do the job evolve, change, or sometimes become obsolete and keeping up is a challenge.<\/p>\n\n\n\n

The rate of skill obsolescence, however, can increase even more rapidly in times of crisis, when executives are challenged to lead in unpredicted and sometimes unprecedented ways. <\/p>\n\n\n\n

Skill obsolescence has accelerated<\/strong><\/h5>\n\n\n\n

The COVID-19 pandemic gave us the opportunity to study the effects of a global crisis on executive skills and skill obsolescence.<\/p>\n\n\n\n

In order to learn more, we partnered with The Official Board<\/a> to conduct a survey of 3,026 executives from countries on every continent except Antarctica. <\/p>\n\n\n\n

Respondents represented 53 key functions<\/a> and 86 industries<\/a> primarily in the banking, insurance, financial services, consulting, and telecommunications sectors. <\/p>\n\n\n\n

Based on the quantitative data, we found, the average rate of skill obsolescence has increased by 71.7 percent during the pandemic.<\/p>\n\n\n\n

Example:  An executive estimated his or her speed obsolescence skills were <\/em>5% a year before the pandemic and 8% a year during the pandemic. His or her speed of skill obsolescence has increased with a rate of (8% – 5%) \/ 5% = 60% that can be visualized as his or her acceleration of skill obsolescence.<\/em><\/p>\n\n\n\n

The following are our findings by corporate reporting levels and functions:<\/p>\n\n\n\n

\"\"<\/figure><\/div>\n\n\n\n

The variance among responses, we found, reflects the differences due to a range of situational factors, such as country, function and industry:<\/p>\n\n\n\n

\"\"<\/figure><\/div>\n\n\n\n

Executive skill obsolescence has accelerated globally. Yet, not everyone experienced it equally. <\/p>\n\n\n\n

How can executives increase their relevance? <\/h5>\n\n\n\n

After unearthing the extensive increase in skill obsolescence due to the pandemic, we turned our attention to what executives can do to regain, maintain, and even increase their relevance.<\/p>\n\n\n\n

Of course, traditional means of remaining relevant, such as reading or attending conferences (even if only virtually) remain important.<\/p>\n\n\n\n

Five strategies that executives may not yet have considered:<\/p>\n\n\n\n

1. Formalize your plan<\/h5>\n\n\n\n

Formalize the process by creating a written document outlining your plan to stay relevant. Include goals, actionable steps and timelines based on your own assessment and that of others\u2019.<\/p>\n\n\n\n

2. Surround yourself<\/h5>\n\n\n\n

Surround yourself with people who help keep you relevant. Use the \u201cGreat Recession\u201d as an opportunity to fill vacancies (at least partially) through this lens.<\/p>\n\n\n\n

3. Use social media<\/h5>\n\n\n\n

Use social media as a tool to identify and funnel relevant information and knowledge right to your device from people who have valuable insights to offer.<\/p>\n\n\n\n

4. Remain a producer<\/h5>\n\n\n\n

Continuing to produce for your company will help you maintain your relevance and also encourage others to see you as a relevant leader.<\/p>\n\n\n\n

5. Take time to assess<\/h5>\n\n\n\n

Take time to assess and learn from the real-time consequences of your decisions and actions, both good and bad.<\/p>\n\n\n\n

Get ready for your next challenge<\/h5>\n\n\n\n

Using these strategies will help executives stay relevant not only in the face of COVID-19, but also when dealing with other crises, including those they face now and will face in the future.<\/p>\n\n\n\n

See our full piece<\/a> in Newsweek<\/em> to learn more about what individual executives reported and additional details on these strategies. <\/p>\n\n\n\n

More on the survey<\/b>
The survey asked two quantitative questions: 1. On average, what percentage of your skills became obsolete or outdated – during – the pandemic? 2. On average, what percentage of your skills\u2002became obsolete or outdated on a yearly basis – before – the Pandemic?
In addition to quantitative data, we collected qualitative data in the form of text responses from 84 percent of respondents.<\/em><\/p>\n\n\n\n

Related Posts<\/h5>\n\n\n\n