Thai companies seek dynamic leadership amid challenging times
The need for a dynamic, collaborative and empowering leadership style is paramount in today’s business environment, particularly for Thai companies navigating unpredictable challenges. Leadership development has become a critical issue for companies as they strive to integrate Generation Z into the workforce, reskill older generations, and cultivate a diverse pool of leaders who can inspire innovation and high performance, whilst also understanding rapidly evolving technologies and emerging disciplines.
According to Manpower research, 77% of businesses report a lack of leadership, with 83% acknowledging the necessity to develop leaders at all levels. However, less than 5% of these Thai companies have implemented leadership development across all levels. Furthermore, 69% of millennials feel there is a lack of leadership development within their workplaces.
TeamStage research indicates that less than 20% of businesses believe their programmes effectively create proficient leaders, while only 18% state such programmes have made their leaders very effective in achieving organisational goals.
There is a prevalent misconception among some Thai companies that cultivating leadership at all levels is impractical. They may believe that their employees are neither natural leaders nor interested in leadership roles.
Instead, they may feel they require executors. However, considering the traditionally low return on investment from most leadership development programmes, this point of view is somewhat understandable.
Despite this, Thai companies face a compelling challenge. The issue does not solely lie in having a sufficient number of individuals willing to take up leadership roles, but also in ensuring that these leaders possess the vital skills for success.
Cultivate individuals
A shift in our perception of leadership is necessary, from a position-based to a practice-based understanding. We must cultivate individuals who inspire and lead at all levels within the organisation.
Trust is a critical factor, and leaders must actively seek genuine input, prioritising listening over asserting their experience. The evolving dynamics of working relationships, especially with younger generations prioritising employability, necessitates a reassessment of leadership approaches.
Starting this process requires the full commitment of top leaders. If they are unwilling to share and empower leaders at all levels, the initiative will fail. Therefore, honesty is crucial. The process might not be easy for some leaders, but it is a deal breaker.
It is also critical to develop leadership capabilities that are directly linked to organisational goals. Attempting to cultivate every leadership capability simultaneously may prove unachievable. A strategic and selective approach is crucial, as various business goals such as growth, innovation, quality, new markets, and acquisitions, require unique combinations of leadership experiences and capabilities.
Defining the required leadership qualities is another critical step. Thai companies and organisations should identify the mindset and behaviours needed at every level. This approach will develop capabilities that will be utilised, rather than abstract skills.
Future leaders require a diverse skill set that goes beyond traditional management roles. They need to motivate and inspire teams, set compelling visions and demonstrate enthusiasm for their work. They must also build relationships, foster trust and respect, and create a positive and collaborative workplace culture.
Business environment
Today’s business environment demands a collaborative and dynamic approach, promoting a community of leaders rather than sticking to traditional hierarchical structures.
By nurturing these extended leadership approaches, Thai companies can successfully navigate through unpredictable business landscapes towards sustained success.
