Leadership in the 21st century is characterized by a complex and ever-changing landscape. For family businesses, leadership transition goes beyond simply replacing positions; it involves developing leaders capable of navigating uncertainty, inspiring teams, and ensuring the continuity of the company. McKinsey, in its study entitled "The art of 21st-century leadership: From succession planning to building a leadership factory", discusses 6 characteristics and practices relevant to the transformation of leadership in companies.
This article explores how advisory boards can be a key part of this training process, guiding leaders on their development journey and helping to implement modern leadership practices.
McKinsey highlights that energy, balance, and inspiration are essential for today's leaders. This characteristic requires that the leader take care of their physical and mental well-being to maintain performance and inspire their team.
The advisory board can act as a mentor, encouraging leaders to adopt wellness and self-care practices. In addition, the board can help build an organizational culture that values work-life balance, promoting a healthy and sustainable work environment.
High-performing leaders focus on the success of the team and the positive impact of the company, adopting a leadership based on service and purpose.
The board can reinforce this approach by encouraging the leader to adopt servant leadership practices, focusing on the development of people and the positive impact of the company on society. In addition, the board can implement metrics that evaluate the social and community impact of the leadership's actions, promoting a broader and selfless vision.
Modern leaders cannot fear failure; they must be curious, constantly seek knowledge and recognize their limitations.
The board can foster a culture of continuous learning by providing opportunities for training, skill development, and regular feedback. Creating a mentoring program with advisors can help leaders practice humility and develop a mindset of “always learning” rather than “knowing it all.”
In times of crisis, resilient leaders excel at facing challenges and making tough decisions. Grit and resilience are critical to the sustainability of a company.
The advisory board can guide leaders to develop resilience by offering crisis management strategies and supporting leadership during difficult times. In addition, the board can foster organizational resilience through risk management practices, preparing the company to weather future crises more effectively.
Leaders who use humor to lighten the work environment and foster creativity among their team are considered more motivating and inspiring.
The board can model this approach by fostering a more relaxed and open discussion environment in meetings, encouraging the exchange of ideas in a relaxed manner. In addition, it can suggest team building activities so that the team can experience moments of relaxation and create stronger connections.
The best leaders have a long-term vision and see their role as a temporary responsibility, ensuring that the company and the team are stronger and more sustainable in the future.
The board can help the leader develop a legacy vision, guiding him or her to make decisions that favor the longevity of the family business. In addition, the board can reinforce the importance of solid succession planning and a culture of continuous talent development, aiming to create a "leadership factory" for the next generations.
Developing a leadership prepared for the challenges of the 21st century is not an automatic process. It involves creating a culture of learning, innovation and resilience, with the ongoing support of the advisory board. When a board actively engages in the development of leaders, it not only contributes to the individual growth of leaders, but also to the sustainability and longevity of the family business.