Canadian productivity is declining at an alarming rate. Compared to other countries in the Organization for Economic Cooperation and Development (OECD), Canada ranks 18th. Compared to the United States, Canada has experienced a 9% decline in productivity since 2000.
In order to close the gap, Canadian corporations and businesses need to change how they view leadership. Adopting an adaptive leadership style is one way in which modern businesses are surviving in today's challenging economic environment.
Read on for a guide to adaptive leadership. Explore topics such as different types of leadership and tips for thriving in uncertainty.
What Has Changed in the Business World?
Business changes are one reason why adaptative leaders are necessary. For example, the Covid-19 pandemic resulted in a paradigm change for workers. To keep operations moving, businesses authorized remote work for all practical positions. Within months, millions of workers were ditching face-to-face meetings for Microsoft Teams and Skype.
Business leaders had no choice but to trust their employees to work from home.
As the effects of the Covid-19 pandemic wane, many employees do not want to return to the office. Workers argue that they can be more productive at home without office distractions. They also want to be compensated more if they are required to come into the office.
Other changes in the workplace include an aging workforce. Experienced workers are starting to retire, with younger workers taking their place. Generation Z employees are less traditional and are more likely to leave their jobs.
Many other uncertainties and risks exist in today's economy. Consumers struggle to deal with rising interest rates and the cost of living. To best handle these changes, businesses turn to adaptive leaders.
What Is Adaptive Leadership?
Adaptive leaders acquire leadership skills that help them thrive in uncertain and evolving times. The first step to becoming an adaptive leader is diagnosing a change or challenge. Once diagnosed, you can implement steps to interrupt or mitigate the risk.
Adaptive leaders emphasize innovative techniques to resolve their problems. They create new capabilities that allow their company to meet its goals.
There are four pillars of an adaptive leader. Anticipation of changes and risks is one critical skill.
The ability to articulate those risks and challenges is second. This is achieved via public speaking and briefings. Adaptation and accountability are the last two pillars. You need to continuously learn and make adjustments to economic conditions. At the same time, employees who fail to adapt need to be held accountable.
How Can Training Help?
Thriving in uncertainty does not always come naturally. A workplace leader rarely emerges overnight. Your employees need training to develop the requisite leadership skills.
Leadership training provides lessons learned from the past that will guide you in the future. Training courses develop problem-solving skills that prove crucial during uncertain times.
Through training, your managers will learn how to build better teams and leverage diversity in the workplace. They will also learn how to speak in public, negotiate, and manage across cultures.
Your Guide to Developing Adaptive Leaders
Coursetter offers 20-plus years of experience developing custom and online training courses. We have earned a reputation for delivering high-quality training products and creating business leaders. If you want to take courses on adaptive leadership, contact us today to get signed up for your next class.