Business leaders in the UK do not feel prepared to lead through future challenges like artificial intelligence and political volatility, according to new research by management consultancy Lane4.
The survey of over 150 c-suite leaders reveals that 20% are not sure they have the skills necessary for future success. In fact, less than a third (32%) feel highly equipped with the skills required to be exceptional leaders in the future. At the same time, over three quarters (79%) agree that senior leaders in their organisation will need to adopt a different mindset for their business to succeed in the future.
The top skills business leaders think are essential for future success are:
- Strategic thinking (47%)
- Critical thinking (40%)
- Data literacy (37%)
- System thinking (35%)
- Adaptability (34%) and resilience (34%)
When it comes to those things preventing leaders from thinking more long term, 30% cite day-to-day business tasks, 26% market volatility and complexity, and 21% mention legal or regulatory barriers.
Dr. Alison Maitland, Director of Research and Product, Lane4, said: “These findings really challenge the worldview of senior business and human resource executives. Several global trends are already re-sculpting the business landscape. Unless leaders adopt a more balanced sense of responsibility and recalibrate both their skills and mindsets to match the demands of this environment, their organisations will not last long.
All our data indicates that to thrive amidst the trends, leaders will need to expand their current thinking, beliefs, motivations and values in various ways, adopting a multi-lens view of themselves their role and their organisation.”