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The Future of Executive Search and Leadership Development Consulting

The Future of Executive Search and Leadership Development Consulting 1

By Mostafa Sayyadi

The true basis of leadership was built upon a model that generated two sides of an X and Y axis. On one side is the concept of leadership that creates change through taking a process-oriented and the other as more of a relationship-oriented approach. While transactional leadership involves determining the tasks, rewarding goal achievement, and punishing failure in attaining goals, transformational leadership focuses on the critical human assets such as commitment and thus helps followers to effectively implement organizational changes with both efficiency and effectiveness. Just as leaders need to be both autocratic and democratic at times they also need to be both transactional and transformational at times also.

Since there are a plethora of leadership models and theories, my emphasis is on becoming better at leading organizations with more leaders practicing transformational leadership. Transformational leadership has been defined, by Gary Yukl and David Van Fleet, as “a process of influencing major changes in the attitudes and assumptions of organization members (organization culture) and building commitment for major changes in the organization’s objectives and strategies.” This leadership model sheds light on the strategic role that followers have in the form of attitudes and values. Follower’s attitudes and values can be enhanced to accomplish higher degree effectiveness and change implementation. Based on this view, Kerry Webb, an author and scholar in the area of management at Texas Woman’s University in the United States feels that the effectiveness among these types of leaders “is measured by the effect of leader behaviors on followers. Subordinates of transformational leaders verbalize feelings of admiration, respect, trust, and appreciation toward these leaders and are motivated to provide extra effort.” Extra effort does not only help the organization but also helps the individual.

Executives recognize the importance of transformational leadership. In an effort to grasp the knowledge of executives worldwide, the Association of Executive Search and Leadership Consultants (AESC) surveyed business leaders to identify the current and new challenges by 2025. The results highlighted the significant role of leadership for organizations and confirmed that business leaders identified leadership development as one of the main areas for using an outside consultant. Martin Schubert, a partner at Eric Salmon & Partners states that companies “in technology, in industry, in financial services, even in consumer goods and life sciences, experiencing a change in their business models that are much more global, much more virtual, with diminishing hierarchies that require a different leadership type. And this drives both leadership advisory and executive search.” In light of the increased pressures of the global workplace that inspires leaders to drive effective change at the organizational level, opportunities for transformational leadership consulting grow as organizations are increasingly participating in international markets. For example, Dorota Czarnota, a Country Manager at Russell Reynolds Associates sees high potential for growing transformational leadership consulting in Latin America, Europe, Asia and Africa.

Now that we have identified that transformational leadership consulting has risen to a phenomenon that is worth understanding, learning, and using in organizations around the world. This article is set in place to inspire leadership development consultants to help executives implement transformational leadership in order to meet and exceed the challenges of the future. This article summarizes my experience of working with a team of top-level management consultants in San Diego, California. My experience says that transformational leadership consultants can help executives in clients’ companies develop transformational leadership by using four aspects of idealized influence, individualized consideration, intellectual stimulation and inspirational motivation that enable interactions and provide more effective solutions for organizational problems. These aspects represent how an effective leader working in today’s knowledge-based economy can develop and manage intellectual capital in corporations. These four aspects include:

  • The key for transformational leadership consultants is that executives can use idealized influence to develop a shared vision and improve relationships with followers.
  • Transformational leadership consultants should be aware that executives can use individualized consideration which concentrates on identifying employee’s individual needs and empowering followers in order to build a learning climate and mobilize their support towards goals at the organizational level.
  • Transformational leadership consultants need to make deliberate attempts to inspire executives to use intellectual stimulation in order to propel knowledge sharing in the organization and generate more innovative ideas and solutions.
  • Executives can also use inspirational motivation to focus on inspiring human assets, thereby setting a higher level of desired expectations for them. Executives need to obtain transformational leadership consultants’ suggestions, and integrate their suggestions into the decisions regarding how to inspire people and not just treat them as human assets.

The key take-away for leadership development consultants across the globe is that transformational leadership seems to be the in-vogue leadership model for today’s executive, and is more realistic than some of the other leadership models. And transformational leadership consulting has increasingly become one of the most dominant paradigms today and will be used by many companies around the globe in the next 5 years.

Business

Return to work: Flexibility, preparation and communication are key

Return to work: Flexibility, preparation and communication are key 2

By Matt Weston, Managing Director, Robert Half UK

As lockdown restrictions ease for the foreseeable future, conversations across the business world are starting to turn to how employers can safely and seamlessly prepare for their workforce to return to the office.

Research from Robert Half has found that over half (54%) of employees are worried about working in close proximity to their colleagues, while a similar proportion are eager to return to the office due to loneliness working from home (45%) or concerns about missing out on career opportunities (30%).

Unsurprisingly, after everything companies and their employees have done to successfully adapt their operations and working practices to social distancing rules over the last few months, immediately returning to the old ways of working will likely neither be sensible or practical. With safety being the key priority for the ‘new normal’ of office life – communication, flexibility and preparation should be the main focus areas for employers.

With this in mind, what are the challenges and opportunities that employees anticipate as they prepare for the return to work, beyond government and industry supplied health and safety best practice? Furthermore, how can employers best support their staff during this period?

Keep people at the heart of change

It is important to recognise that your workforce has been working through an intense period of uncertainty and change for months, which can be incredibly unsettling. On top of this, working for weeks in isolation without the usual physical interactions with team members could be potentially detrimental to employee engagement and mental wellbeing.

Having adjusted to keep staff connected with one another from a distance with virtual team building exercises, video calls and daily check-ins, as teams begin working in hybrid models with some in the office and others remote, staff engagement will need to adapt again.

Managing people with greater sensitivity and maintaining positivity throughout will be crucial. To help instil a sense of normality and engagement, encourage maximum collaboration between individuals (in accordance with social distancing rules), and make sure teams feel part of company goals and opportunities through regular meetings and communication – no matter their location.

Continuing to invest in technology and offering flexibility will also be important to ensuring that people can continue to work remotely or on-site, either in accordance with their own wishes or as part of your staggered return-to-office plan.

Communicate, communicate, communicate (and listen)

Reassuring staff that they are able to safely return to the office will require continuous communication. From expectations of the physical office, to expectations of how to operate within hybrid teams, these new expectations and new workplace requirements should be communicated to all staff clearly to avoid confusion.

Regular email updates, updates on the company’s intranet and social media channels, as well as frequent town hall meetings (either online or in a smaller setting) could be key elements of an effective communications approach.

Also, consider a feedback channel to allow staff within the team to offer thoughts on their experience of returning to the office and any suggestions on improving the process. Whether on a company-wide basis or a team-by-team approach, schedule regular check-ins to engage with employees’ questions and concerns.

Maintaining open communication channels with your team will be essential for keeping up employee morale and ensuring clarity. For example, if some employees aren’t comfortable with coming to the office every day, then they should have plenty of opportunities to voice their concerns and have them dealt with promptly, respectfully and fairly.

Staggered return-to-office planning

Depending on the size of business and density of office space, maintaining home working arrangements across teams on an alternating basis could make it easier to implement safe social distancing. This involves select teams working remotely while others work on-site on any given day.

An alternating approach to remote working might also reduce the risk of staff feeling pressured or overwhelmed by an immediate return to the office five-days-a-week. After all, some families might be juggling temporary disruptions to childcare arrangements and public transport systems will likely become crowded again. So, a transitionary period will help everyone adjust to post-lockdown office working.

Finally, if you have developed your technology infrastructure to facilitate remote working, you would do well to continue to leverage these new capabilities as in all probability, a mixture of remote and at-office work will be needed for some time.

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Business

Contis enters RBS Capability and Innovation Fund bid seeking £35 million for disruptive SME growth strategy  

Contis enters RBS Capability and Innovation Fund bid seeking £35 million for disruptive SME growth strategy   3

Leading payments provider, Contis, has applied for two grants from the RBS & BCR Alternative Remedies Package, totalling £35 million.  

Unlike most applicants who will deploy funds through a single brand, Contis is taking a completely different approach. The funding will be used to drive fintech innovation in the UK by developing an off the shelf, B2B electronic and card payment technology platform for SMEs. With Contis’ powerful tech stack and regulated status, this will empower hundreds of fintechs to support the SME market with groundbreaking technologies, payments and lending capabilities. Contis today services over 800,000 consumer accounts, 14,500 business accounts and processes £4bn in transactions per year, demonstrating a proven track record.   

UK businesses are facing a challenging economic environment with the impacts of Covid-19 and Brexit. As large corporations and entire sectors are affected, SMEs will play a vital role in the recovery. Contis’ approach is completely disruptive, offering three channels to maximise support for SMEs and sole traders, through three unique brands, all powered by APIs from Contis’ modular and configurable engine. 

1.       Canvas for Business 

Contis is a super-vendor in the world of fintech, offering payments through proven banking rails and card scheme capabilities including issuing pre-paid, debit and virtual cards. They’re linked to digital delivery like Apple Pay and Google Pay, and a trusted tech stack that boasts 99.99% uptime.  

With funding from the Capability and Innovation Fund (CIF), Contis’ technology and regulated services will be made available to the whole fintech community, enabling them to provide dedicated SME accounts with the latest leading-edge capabilities delivered via Contis’ wholly owned, secure, cloud-based technology and apps. Contis’ solution has a firm eye on the need for SMEs to compete internationally, particularly after Brexit, and offers FX integration as standard.  

Canvas for Business will increase competition by providing fintechs serving the SME market with technology that outstrips the big banks. Contis will also provide credit referencing capabilities and empower fintechs to lend to their SME client base through Contis’ own credit licence. Without the constraints of legacy systems, it will enable simple connectivity to accounting and payments solutions, as well as to unlimited future innovations.  

2.       Engage for Business 

Over 150 Credit Unions currently use Contis’ Engage service and technology, and hold an estimated £400 million in undeployed cash reserves. Developed with CIF funding, Engage for Business will enable Credit Unions to launch business accounts and payments products for the first time, and allow excess funds to be redeployed in the SME sector through business support loans. This will revolutionise access to funding for sole traders and small businesses. 

3.       Freedom for Business 

With CIF funding, Contis will also offer large scale SMEs a direct-to-market solution where Contis holds the relationship and provides a bespoke offer to meet the business’ exact needs. 

Contis’ application to the Capability and Innovation Fund is focused on creating the widest possible impact for UK SMEs by fulfilling their accounts & payments needs and driving innovation in SME financial services. 

Through the grant, Contis will empower over 200 fintechs and Credit Unions to provide credit, simplify payments integration into everyday business needs, offer digital credit referencing, provide budgeting tools to SMEs, enable automated payments, give predictive insight on cash flow, provide rewards to SMEs on spending, and much more. 

Peter Cox, Founder and Executive Chairman of Contis said: “Our mission is to democratise payments and financial services for all SMEs, so they’re spoilt for choice with innovative and affordable solutions that meet their exact needs. Our approach, based upon proven technologies, will broaden and disrupt the services available to SMEs far beyond the capabilities of existing providers such as the big banks.  

“By driving competition and innovation, while improving the availability of funding, our approach will increase the services on offer to SMEs and make them more affordable, therefore becoming easier for every entrepreneurial person with vision to run their own businesses.” 

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Business

Four years of digital transformation in four weeks: UK lockdown puts pressure on brands to digitally deliver

Four years of digital transformation in four weeks: UK lockdown puts pressure on brands to digitally deliver 4

Nearly a third (32%) of consumers would switch providers if a brand’s website is unavailable for more than 24 hours

A study released today reveals the scale of omni-channel pressure brands now faced as a result of the Covid-19 pandemic, as consumers flock to apps and websites to as the priority destination to transact with brands.

The UK has experienced a huge leap in use of online services thanks to lockdown, with the public appearing to have less concern for the availability of a brand’s physical location. Research by Sungard Availability Services (Sungard AS) uncovers a “window of availability” that UK businesses now have before consumer loyalty changes:

  • If a brand’s website is down for 24 hours – 32 percent of consumers would switch provider
  • If a brand’s app is down for 24 hours – 28 percent of consumers would switch provider
  • If a physical store is closed for 24 hours – 20 percent of consumers would switch provider

The results by industry paint an interesting picture of the availability timeframes brands are expected to adhere to:

  • For online retailers, excluding grocery retailers – 23 percent of consumers would switch provider if they could not access online services for 12 hours, rising to over a third (34 percent) after 24 hours
  • For financial services and entertainment streaming platforms – 21 percent of consumers would switch provider after 12 hours, rising to 33 percent after 24 hours
  • In the case of online grocery shopping – 20 percent would switch provider after 12 hours, rising to one third 33 percent after 24 hours

The findings also highlight that as digital reliance increases, so will consumer expectations towards availability in the future. Over the coming two years, a third (33 percent) of consumers expect online financial services to always be available, rising to 35 percent for streaming services.

“UK consumers have become reliant on the constant availability of online services, and lockdown has only served to heighten this,” comments Chris Huggett, SVP, EMEA at Sungard AS. “What used to be a choice between physical and digital has now firmly accelerated into digital environments across various industries. As online worlds continue to outpace bricks and mortar as the face of businesses, ensuring constant availability and clear communications on downtime will be key for brands to build trust and loyalty.

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