BWI: Hay Group Report Offers Outlook on Key Global Trends Impacting Leadership

Press release from Business Wire India
Source: Hay Group
Thursday, September 22, 2011 12:00 PM IST (06:30 AM GMT)
Editors: General: Consumer interest, Lifestyle; Business: Accounting & management consultancy services, Business services, Information technology; Technology
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Hay Group Report Offers Outlook on Key Global Trends Impacting Leadership


New Delhi, Delhi, India, Thursday, September 22, 2011 -- (Business Wire India) -- In a foresight report released, Hay Group, the global management consultancy, identifies the six most significant trends that will affect organizations, employees and managers over the next two decades, and the key competencies required of successful future leaders.

"Shifting trends indicate that the next generation of leaders will need to be adept conceptual and strategic thinkers, have deep integrity and intellectual openness, and find new ways to create loyalty among employees," said Gaurav Lahiri, Managing Director, Hay Group India. "Managers will need to relinquish their own power in favor of collaborative approaches, both inside and outside their organizations. In some cases, this means abandoning many of the behaviors that propelled leaders to the top of their organizations in the first place."

The report, Leadership 2030, examines six global trends-globalization 2.0, climate change, demographic shifts, digitization, individualization and technological convergence-and their impact on leadership and organizations. Hay Group's findings on four of these major shifts, and the ways they are changing the competencies required of successful leaders, include:

-- Globalization 2.0: As globalization accelerates, the new business world will be characterized by increasingly diverse teams and declining loyalty between organizations and employees. The balance of power will shift to Asia, a global middle class will rise, and greater inter-connectedness will result in greater volatility in the economic markets.

- Leadership Impact: Companies will need to be more agile and collaborative to manage the global/local divide; their leaders will need to be flexible, internationally mobile and culturally sensitive, and they must have strong conceptual and strategic thinking capabilities in order to manage risk and cope with the dangers and uncertainties associated with globalization.

2-- Climate Change: Rising emissions and temperatures will be further aggravated by growing residential and industrial waste in developing nations. The scarcity of strategic resources like water, minerals and fossil fuels could trigger price hikes and violent conflict.

- Leadership Impact: Organizations will be forced to lower their eco-footprint, adapt to rising operational costs and restructure along sustainable lines; leaders will need outstanding cognitive skills to balance the competing demands of financial success, social responsibility and environmental custodianship, and must act as change agents, advocating environmentally responsible business practices.

-- Demographic Shifts: As the world population grows and ages, demographic imbalances are emerging, leading to skills shortages in some areas and increasing migration.

- Leadership Impact: For organizations, fewer people means the war for talent will continue to rage; leaders will need to attract, motivate and retain increasingly diverse teams and find ways to develop and promote the growing numbers of international migrants, women and older people into leadership positions.

-- Digital Lifestyle and Work: Technology will continue to blur the boundaries between private and work lives, will broaden generational divides, and will shift power to employees with extensive digital skills-particularly the rising class of "knowledge workers," who can work anywhere.

Leadership Impact: As organizations become increasingly virtual, leaders must recognize and harness the critical skills of digital natives, foster collaboration between them and traditional workers, and encourage high levels of openness, integrity and sincerity to build reputation in a more transparent world.

"These trends are not only transforming our businesses, governments and societies, they are significantly impacting the characteristics we will associate with successful leadership in the decades ahead," added Gaurav. "To thrive in the future, leaders will have to become more nimble and adaptable, guiding organizations to revolutionize their cultures, structures, systems and processes."

About the Report:

Hay Group carried out its Leadership 2030 research with the Cologne, Germany-based foresight company, Z-Punkt.

Visit http://www.haygroup.com/Leadership2030/?utm_source=PressRelease&utm_medium=Asia&utm_campaign=Leadership2030 to learn more about the report and to view a short video on Hay Group's two prototype executives, Jana Radulescu and John Kaipanen, exemplary leaders of the future.

Jana Radulescu is also on Facebook at http://on.fb.me/qEyWco, and ongoing discussions about the study will take place on the Leadership 2030 LinkedIn page: http://linkd.in/h0GQ6F.

About Hay Group:

Hay Group is a global management consulting firm that works with leaders to transform strategy into reality. We develop talent, organize people to be more effective and motivate them to perform at their best. Our focus is on making change happen and helping people and organizations realize their potential.

We have over 2600 employees working in 84 offices in 48 countries. Our insight is supported by robust data from over 125 countries. Our clients are from the private, public and not-for-profit sectors, across every major industry. For more information please contact your local office through www.haygroup.com/in


CONTACT DETAILS
Nidhi Mehra, Hay Group, +91 9818331654, nidhi_mehra@haygroup.com

KEYWORDS
CONSUMER, LIFESTYLE, CONSULTANCY SERVICES, BUSINESS SERVICES, IT, TECHNOLOGY

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