Leadership has always been defined as the act of influencing, guiding, and managing individuals or groups. In organizations, corporate leadership sits at the top of the hierarchy. It is tasked with leading its teams through everyday operational storms and navigating the future to ensure continuity and profitability.
However, this definition merely scratches the surface of what leadership entails, especially in the post-pandemic digital age where the advent of emerging technologies, socio-demographic shifts, and economic certainty have disrupted “business as usual” almost beyond recognition.
As a result, modern business owners and managers are exploring different styles of corporate leadership to help smoothen the transition into the new normal and beyond. If you’re looking for the same, keep reading to learn five corporate leadership styles you can adopt in the post-pandemic digital age.
Here are five styles of corporate leadership along with their unique benefits you should know about:
With digital transformation becoming a trending buzzword in every industry and organization, it’s only fitting we kick things off with transformational leadership. This leadership approach is specifically designed to inflict change in employees, management, and social systems within an organization.
Today, businesses of all scales and niches are adopting new technologies, revamping their workplace culture, and exploring new domains/revenue streams. Thus, they need a leader who can create valuable and positive change by strategically turning followers into aspiring leaders. This allows them to delegate tasks without constant supervision.
This leadership style is desirable for growth-minded companies with a learning environment. It doesn’t merely focus on organizational goal achievement. It fosters personal connections with teams, boosting motivation, collaboration, and overall performance.
Coaching leadership is a relatively new, guidance-based leadership style designed to help teams gain short-term and long-term wins by fostering self-responsibility, collaboration, and effective communication. Coaching leaders assess their team members’ motivations, capabilities, strengths, and weaknesses to offer personalized guidance and support that brings out the best in them.
Leaders who adopt this leadership style are better suited to recognize and cultivate talent, promote upskilling, and encourage free-thinking. This leadership style fosters a more confident company culture and a positive, motivating environment. However, this style of corporate leadership can be incredibly time-intensive. Therefore, it may not be suitable for organizations with a deadline-driven environment.
Also known as altruistic leadership, this corporate leadership style fosters a decentralized organizational structure where autonomy, collective decision-making, and power-sharing are encouraged and prioritized. Servant leaders are characterized by having a people-first mindset and are tasked with ensuring team members are professionally and personally fulfilled.
Thus, they emphasize employee satisfaction so employees can focus on their performance and improve productivity, which leads to an increase in revenue. However, to facilitate this win-win scenario, businesses must create a reward-based work model to incentivize their teams to collaborate and commit to self-growth and responsibility.
However, servant leaders are susceptible to burnout since they usually put the teams’ needs above their own. Secondly, this form of leadership can often lead to a conflict of opinions due to the absence of a central authority. Therefore, it’s not suitable for traditional organizations and businesses with a hierarchical system in place.
Transactional leadership is one of the most common corporate leadership styles in the market. It focuses entirely on incentivizing employees to achieve targets and improve their performance. Employees that succeed are rewarded, whereas those who fail might be subject to punishments depending on the circumstances.
For instance, policy violations could lead to disciplinary proceedings. Similarly, failing to achieve targets could lead to demotion. However, the main purpose of this leadership style is to ensure employees have a clear vision of their responsibilities and performance targets so they can chase them down.
Transactional leaders are laser-focused on setting goals and monitoring performance. They’re essentially pacesetters that rely on mentorship, regular training, and managerial psychology to meet organizational goals. Therefore, these leaders are perfect for businesses that depend on specific goals and short-term success, such as sales agencies and consultancies.
Transactional leadership isn’t the best style for businesses that rely on creativity or those that don’t want to incentivize employees every time through rewards to improve operational efficiency or boost loyalty/satisfaction.
Democratic leadership, or shared/participative leadership, is one of the most popular leadership styles in the post-pandemic digital age. This style of corporate leadership involves collective decision-making. Every employee has an equal say in the company’s or project’s direction, with the leader eventually making the final call.
Therefore, it’s perfectly suited for businesses with a modern (Gen Z/Millennial) workforce that’s much more vocal than its traditional (Baby Boomer) counterpart. The most important benefit of this leadership style is that it enables employees at every level to exercise authority and take on more responsibilities. Empowered employees become eligible for leadership positions in the future.
As a result, a democratic leader needs to be always ready to ask for input from their team and generate as much feedback as possible before making a decision. They are rational, flexible, and excellent listeners that value group discussions. They want members to feel unafraid and share their opinions openly as they believe this can improve engagement, performance, and workplace satisfaction.
So, there you have it – 5 different styles of corporate leadership perfectly suited for the post-pandemic digital age. However, before you adopt one, you need to carefully assess your organization’s culture, team behavior and dynamics, and your industry, including the competitors and customers. You can ask yourself a few questions, such as:
Whether you manage a big or small team, answering these questions (and more) will help you determine your corporate leadership style and what you believe constitutes a healthy team dynamic. In many cases, this requires professional intervention from leadership experts.
DTG Consulting Solutions, Inc., a specialized, industry-leading, and highly experienced staffing company, can help you discover the ideal leadership style for your business and adopt it seamlessly. We can also equip your enterprise with a highly skilled and experienced talent to fill your leadership roles.
Feel free to get in touch with us anytime for more details.