Recent research from Stanford University suggests that setting aspirational goals can lead to significantly higher performance and personal growth, even if those goals aren’t fully achieved. This finding challenges the conventional wisdom of playing it safe and aiming low to ensure success.

The Trap of Low Expectations

Many mid-career professionals fall into the trap of setting easily achievable goals. They’ve tasted success and now fear failure. As a result, they aim for incremental improvements rather than transformative changes. While this approach might lead to steady progress, it rarely results in extraordinary achievements.

A study from Harvard Business School found that professionals who set ambitious goals were 14% more likely to report high job satisfaction and 12% more likely to achieve rapid career advancement compared to those who set more conservative goals.

The Power of Stretch Goals

Aspirational or “stretch” goals are those that push us beyond our perceived limitations. They require us to innovate, learn new skills, and step out of our comfort zones. While they may seem daunting, these goals have the power to unlock our full potential.

Research from the University of California, Berkeley, shows that setting stretch goals activates the brain’s reward centre, increasing motivation and resilience. This neurological boost can help us overcome the fear of failure and push through challenges.

Balancing Aspiration and Realism

It’s crucial to distinguish between aspirational goals and unrealistic dreams. Goals, no matter how ambitious, should be grounded in reality and achievable with sufficient effort and resources. As Dr. Edwin Locke, a pioneer in goal-setting theory, states, “The highest level of effort occurs when the task is moderately difficult, and the lowest levels occur when the task is either very easy or very hard.”

A Framework for Setting Aspirational Goals

1. Self-Assessment: Begin by honestly evaluating your skills, resources, and current position. This provides a solid foundation for growth.
2. Vision Crafting: Imagine your ideal career scenario in 5-10 years. Don’t limit yourself based on current constraints.
3. Gap Analysis: Identify the differences between your current state and your vision. These gaps will form your goals.
4. Goal Formulation: Create SMART goals (Specific, Measurable, Achievable, Relevant, Time-bound) that bridge the gaps. Make them challenging but not impossible.
5. Action Planning: Break down your goals into smaller, manageable tasks. This makes the journey less overwhelming.
6. Commitment: Publicly declare your goals. Research from the American Society of Training and Development shows that we’re 65% more likely to complete a goal after committing to someone.

Overcoming the Fear of Failure

Fear of failure often holds us back from setting aspirational goals. However, a study from Stanford University reveals that embracing a “growth mindset” – viewing failures as learning opportunities rather than personal deficits – can significantly increase resilience and goal achievement.

Strategies to cultivate this mindset include:

1. Reframing failures as data points for improvement
2. Celebrating effort and progress, not just outcomes
3. Seeking feedback and viewing criticism constructively

Innovating Beyond Comfort Zones

Achieving unprecedented results often requires us to venture beyond our comfort zones. A study from Yale University found that professionals who regularly took on projects outside their area of expertise were 22% more likely to receive promotions and 18% more likely to report breakthrough innovations in their work.

To push beyond your comfort zone:

1. Volunteer for cross-functional projects
2. Seek mentorship in areas where you lack experience
3. Attend conferences or workshops in adjacent fields

The Role of Fundamentals

While aspiring for greatness, it’s crucial not to neglect the fundamentals. Research from MIT Sloan School of Management emphasizes the importance of mastering core skills as a foundation for innovation and growth.

Balance aspirational goals with continuous improvement in your fundamental skills. This two-pronged approach ensures you’re reaching for the stars while standing on solid ground.

The Courage to Aspire

Setting aspirational goals in your mid-career isn’t just about achieving more; it’s about becoming more. It’s about unlocking potential you may not even know you have. As management guru Peter Drucker once said, “The best way to predict the future is to create it.”

By setting truly aspirational goals, you’re not just planning for success – you’re actively shaping your career trajectory and personal growth. You’re choosing to be among the 12% of professionals who, according to a LinkedIn survey, report feeling “highly fulfilled” in their careers.

Remember, the path to extraordinary achievement is paved with bold aspirations, calculated risks, and unwavering commitment. As you stand at this mid-career crossroads, ask yourself: Are you ready to reach for the stars?

Your future self will thank you for the courage you show today in setting truly aspirational goals. The journey may be challenging, but the view from the top is worth every step.

The post Step by Step: Reaching for the Stars, the Power of Aspirational Goals appeared first on CIEL HR.

As someone who has observed these trends closely, I believe two critical factors at play are often overlooked in this debate:

The Changing Nature of Work Stress

Work-related stress is not a new phenomenon. However, the intensity and pervasiveness of this stress have undoubtedly increased in recent years. This rise can be attributed to the growing uncertainties and volatilities that businesses face in our rapidly changing global economy. Companies are under constant pressure to innovate, adapt, and stay competitive, which inevitably trickles down to employees.

The digital age has also blurred the lines between work and personal time, making it increasingly difficult for employees to “switch off.” While it’s easy to blame organizations for these pressures, it’s important to recognize that they too are often struggling to navigate these choppy waters.

The Erosion of Social Infrastructure

Perhaps more insidious and less discussed is the gradual deterioration of our social fabric. Various factors – including increased mobility, changing family structures, and the rise of digital communication – have contributed to a society where genuine, deep connections are becoming rarer.

This social isolation compounds work-related stress. When we lack strong personal support systems, we’re less equipped to handle professional pressures. The workplace often becomes a primary source of social interaction, further blurring the lines between professional and personal life.

The Double Whammy Effect

The combination of increased work stress and social isolation creates a perfect storm for mental health challenges. It’s not just about long working hours; it’s about facing those long hours without the emotional resilience that comes from strong social bonds and a fulfilling personal life.

Learning from History

Interestingly, our ancestors faced similar challenges during periods of rapid social and economic change. Ancient civilizations grappled with urbanization, changing economic systems, and evolving social structures. They developed various coping mechanisms, from philosophical schools that taught mental resilience to social institutions that fostered community bonds. Perhaps we can learn from their wisdom.

Before becoming the Buddha, Siddhartha Gautama was a prince living in luxury. However, he felt a deep sense of dissatisfaction despite having everything that most people desire. When he ventured outside the palace and saw sickness, old age, and death, he realized that suffering is an inevitable part of life. This realization led him to leave his royal life in search of answers to human suffering and stress.

After years of seeking, Siddhartha attained enlightenment under the Bodhi tree. His awakening led to the creation of the Four Noble Truths, one of which states that **suffering comes from attachment**—from clinging to desires, results, and material success. He realized that mindfulness and balance are essential. The Middle Path, a key Buddhist teaching, emphasizes balance—neither indulging in luxury nor subjecting oneself to extreme hardship. This idea mirrors the need for balance between work and life in today’s world.

He also realised that letting go of attachment to outcomes can free the mind from stress. Mindfulness helps people remain present and fully engaged in the current moment, without worrying excessively about the future.

This story illustrates that the path to overcoming stress and finding inner peace often requires a shift in mindset, where balance and mindfulness play a central role.

A Collective Responsibility

Addressing this issue requires a multi-faceted approach:

1. Organizations need to recognize the importance of employee well-being, not just as a moral imperative but as a business necessity.
2. Educational institutions should equip students with the skills to manage stress and build meaningful relationships.
3. Families play a crucial role in fostering emotional intelligence and resilience.
4. As individuals, we need to prioritize self-awareness and actively work on maintaining a balanced perspective on success and life satisfaction.

Moving Forward, rather than simply vilifying “capitalist” organizations, we need to foster a society-wide conversation about how we define success, value human connections, and build resilience. This tragedy should serve as a wake-up call not just for corporations, but for all of us to reassess our priorities and work collectively towards a more balanced and fulfilling way of life.

By acknowledging the complexity of the issue and taking collective responsibility, we can honour the memory of those we’ve lost by creating a society that values both professional achievement and personal well-being.

The post Beyond the Headlines: A Nuanced Look at Work Stress and Social Isolation appeared first on CIEL HR.

The Challenge of Distraction in Modern Workplaces

Our workplaces have become hubs of constant stimulation. With smartphones buzzing, notifications pinging, and the pressure to always be “on,” it’s no wonder that many professionals find themselves scattered and stressed. The myth of effective multitasking has been thoroughly debunked, yet we persist in trying to do it all at once. The consequences? Reduced productivity, poor decision-making, and increased stress levels.

The Unique Position of Mid-Career Professionals

As a mid-career professional, you’re likely in a position where you’re either managing a team, tackling complex problems hands-on, or both. Your responsibilities have increased, and the expectations placed on you are higher than ever. The results you deliver depend heavily on your ability to prioritize tasks, make sound decisions, and navigate interpersonal relationships with sensitivity and understanding. In this context, the need for enhanced focus and clarity becomes paramount.

Understanding Mindfulness in a Professional Context

Mindfulness, at its core, is the practice of being fully present and engaged in the current moment, aware of your thoughts and feelings without distraction or judgment. In a professional context, it’s about bringing this same level of awareness and intentionality to your work. Far from being a new-age fad, mindfulness has been embraced by some of the world’s most successful business leaders and companies.

Examples of Successful People Who Practice Mindfulness

Marc Benioff, CEO of Salesforce: Benioff has been practicing mindfulness for years and has even implemented meditation rooms on every floor of Salesforce’s headquarters.

Arianna Huffington, founder of The Huffington Post: After a stress-induced collapse, Huffington became a vocal advocate for mindfulness and well-being in the workplace.

Bill George, former CEO of Medtronic: George has been meditating for over 40 years and credits the practice with improving his leadership skills.

Oprah Winfrey: The media mogul practices Transcendental Meditation and has offered mindfulness programs to her employees.

Jack Dorsey, ex-CEO of Twitter and Square: Dorsey has spoken about how his daily meditation practice helps him manage the stress of running two major tech companies.

Mindful Actions for Career Advancement

Prioritization and Time Management

Mindfulness can help you become more aware of how you’re spending your time. Instead of reactively responding to every email or request, take a moment to pause and consider what truly deserves your attention. Practice single-tasking – focus on one task at a time, giving it your full attention before moving on to the next.

Decision Making

Mindful leaders make better decisions. By cultivating awareness of your thoughts and emotions, you can reduce bias and emotional reactivity in your decision-making process. Before making important decisions, take a few deep breaths and check in with yourself. Are you acting out of fear, anger, or another strong emotion? Or are you approaching the situation with clarity and objectivity?

Interpersonal Relationships

Mindfulness can significantly improve your interactions with colleagues, subordinates, and superiors. Practice active listening – fully focus on the person speaking, without planning your response or allowing your mind to wander. This level of attention not only improves communication but also helps develop empathy and emotional intelligence, crucial skills for effective leadership.

Stress Management

The demands of a mid-career position can be overwhelming, but mindfulness offers powerful tools for managing stress. Simple breathing exercises or short meditation sessions can help you reset during a hectic day. Over time, regular mindfulness practice can improve your resilience and adaptability, allowing you to navigate workplace challenges with greater ease.

Implementing Mindfulness Practices

Starting a mindfulness practice doesn’t require hours of meditation or a complete lifestyle overhaul. Here are some simple exercises you can incorporate into your workday:

Mindful breathing: Take three deep breaths before starting a new task or entering a meeting.

Body scan: Take a moment to notice how your body feels, especially areas of tension, and consciously relax.

Mindful listening: In your next conversation, focus entirely on what the other person is saying, without planning your response.

Gratitude practice: At the end of each day, reflect on three things you’re grateful for at work.

Creating a mindful work environment can also be beneficial. Consider designating a quiet space for reflection or encouraging short mindfulness breaks throughout the day.

In an era of constant distraction, mindfulness offers mid-career professionals a powerful tool for enhancing focus, improving decision-making, and advancing their careers. By following in the footsteps of successful leaders who have embraced mindfulness, you can cultivate a more intentional and effective approach to your work. Remember, mindfulness is a skill that improves with practice. Start small, be consistent, and watch as your newfound clarity and focus propel your career to new heights.

So, the next time you find yourself overwhelmed by the demands of your job, take a moment to pause, breathe, and approach your work with mindful intention. Your future self – and your career – will thank you.

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At the root, why do we need to transform?

Markets are constantly evolving, driven by advancements in technology, shifting consumer preferences, and emerging trends. To stay relevant and adapt to these changing dynamics, companies need to transform themselves.

Sometimes, companies have to acquire a competitive edge over their rivals. By embracing innovative strategies, leveraging new technologies, and exploring untapped markets, businesses can differentiate themselves from the competition and capture a larger share of the market.

Often processes need to be optimised or automated, and the operations need to be streamlined. Over time, inefficiencies creep in; they need to be spotted and eliminated. Companies can leverage technology, enhance productivity, reduce costs, and deliver products or services more efficiently, leading to improved profitability.

Business transformation often revolves around the customer: their needs, preferences, and pain points evolve. We have to understand them and tailor our offerings, improve their experiences, and build long-lasting relationships, fostering loyalty and driving revenue growth.

Leadership matters!

Leaders have to be clear about the need for transformation and articulate the drivers for launching such a project. They need to put their weight behind these and lead them from the front.  They have to be clear about the goals of the project. Then only the next steps of planning and allocating the resources can start.

New ideas and innovations may spark a transformation in the way a company carries out its business. It is not easy to embrace change; hence, transformation projects are as hard as fostering creativity, encouraging experimentation, and driving innovation. Done well, it opens doors to new revenue streams, market expansion, and sustained business growth.

In today’s rapidly changing business landscape, companies must be agile and resilient to navigate unforeseen challenges and disruptions. Transformation equips organisations with the ability to quickly adapt, pivot strategies, and seize new opportunities, ensuring they remain robust and capable of withstanding uncertainties. Hence, the role of the leaders is so paramount!

Putting things in place

We cannot put the cart before the horse. Doing a robust plan, defining a project charter, organising the financial resources needed for the project, building a shared understanding among the top leaders of the organisation about the project charter and putting a leader for the project is the foundation of a transformation project.

Employees seek opportunities to work for organizations that embrace innovation and provide a dynamic work environment. However, when they are structured in teams, the dynamics changes and we experience resistance to change. Hence, it is important to choose the right members of the team to lead and implement a project in the organisation. The members of the team not only need to have deep expertise but also high levels of acceptance within the organisation.

At the same time, it is important to build a strong communication programme to share progress and celebrate successes. Sometimes, companies announce such projects publicly and leverage the moment to build a positive sentiment about their organisation, attract top talent, foster employee engagement, and retain valuable team members. Ultimately, these help in boosting the brand and leading organisational success.

Overall, business transformation is vital for companies to remain competitive, adapt to evolving market conditions, drive innovation, and achieve sustained growth in an ever-changing business landscape.

The post Implementing Transformation for Long-term Success appeared first on CIEL HR.

Truly said, we have to ensure a solid foundation for anything new. To build a grand structure, we need a robust foundation. Onboarding a new employee is no less of a challenge than laying the right kind of foundation, especially in the current context of hybrid work.

Right Foundation

Millions of people started new jobs when the pandemic struck. People realised that there are several occasions when employees need not be under the same roof to deliver the desired levels of productivity. As a consequence, many organisations have encouraged the work-from-anywhere policy; many people have not only started their new job without entering the physical premises of their organisation but also they have been working remotely for years. Many organisations are happy with the results of this model though an opinion against this permanent arrangement of remote work has been rising.

The real question is if we are inducting a new employee properly. The objective of the induction process is to enthuse the new joiner about the purpose of the organisation, talk about the goals, show the path towards achieving those goals and align the new person with the way of working. This programme is akin to laying the foundation of a megastructure. Are we laying the foundation correctly?

Take the first step!

Many organisations and their leaders have suddenly started believing in the adage, “Just take the first step in faith! You don’t have to see the whole staircase.”

They believe that the new joiner must take the first step faithfully and so should the manager and team members while bringing him or her on board. The business has been moving through uncertain times and the leaders are undoubtedly facing the tough challenge of navigating through the volatility and complexity. They expect everyone to be agile and adapt to the situations as they develop. However, a new joiner has no grounding in the organisation, and lacks the network of colleagues he or she can trust, lean on and share; hence, one finds it hard to take the second and third steps on the staircase. A large number of people in our workforce have grown up in a socio-cultural backdrop where they seek clarity of purpose, surefooted direction and quick feedback.

Given the current mode of hybrid work, new employees do not visit the workplace and hence, do not build strong relationships with colleagues and other stakeholders in the business. Most of them do not connect with the organisation’s vision in a meaningful manner. Their relationship with work turns out to be that of earning wages and delivering on a few tasks assigned to them.

Surely, they take the first step in faith and then stand still there; often get off the staircase to climb one more!

Laying the foundation right: The onboarding process

Hybrid work is not going to go away. We have to learn new ways of laying the foundation rather than complaining about the new reality.

Managers have to find ways of building relationships with peers and team members in a virtual environment. They have to change their old habits and develop new ones. They should be able to explain to a new joiner about the company’s purpose, its vision and its way of working. They have to learn ways of giving meaningful, detailed and periodic feedback to the new joiner.

Company culture has to flow down to the new joiner and a sense of belonging has to be developed. Managers have to learn to involve their team members in crucial conversations such as the plans, development opportunities and possible innovations. They must remember to cascade important updates to their team working in a hybrid manner. A new joiner eventually gets mainstreamed in the process and starts owning the team’s and the organisation’s goals.

The post Having the Right Hybrid Onboarding Process appeared first on CIEL HR.

For example, in the current times, most employees need transparency and flexibility while the business leaders expect their workforce to understand the challenges posed by the environment and expect unclarity and ambiguity. Sometimes, the pulls are in multiple directions and the leaders are unable to address all of them with the desired level of agility. However, the need of the hour is to be agile and meet the expectations of all stakeholders.

As companies have been in a transformational mode almost always, they need many things to fall in place. Among several factors, getting the employees to stay engaged and contribute at their best is one of the most crucial asks now. Employees expect attractive rewards and benefits; they need at the same time a whole lot of other things which make their job worth their while. Since there are many opportunities in the market competing against one another to attract talent, business leaders have to review their employee value proposition and improve its impact.

What do leaders want of their employees?

Leaders want their employees to understand why the organisation exists and perform in the best interest of the organisation always.

For example, the employees at the project site of a construction company need to understand that they are building a shopping mall that is going to house three hundred businesses fulfil their dreams and plans; help ten to fifty thousand visitors enjoy their time there through shopping, dining, gaming and watching movies daily.

Businesses rise to great heights of success when this kind of alignment happens. Their employees will make the right decisions, take ownership of the goals and walk the extra mile to see the business achieve its long-term vision as well as short-term objectives.

What can be done to make the work engaging for the employees?

Everyone wants their work to count; all of us have similar levels of psychological needs to be respected, challenged, recognised and valued. These are basic human traits we have observed, experienced and studied. Yet, business leaders forget about these basics often and end up not giving away enough independence and freedom; they do not offer feedback at the right time; sometimes they get impatient, lose their temper with people and express their frustration. As a result, people feel disrespected and undervalued. We have to reflect these basics in our day-to-day behaviours and practices.

We have to offer the right amount of money, fair levels of benefits, equitable promotion and development opportunities to our people; our work has to be safe, empowering, dignified and flexible. These are the bare minimum anyone expects these days from his or her employer. However, providing these aren’t going to make us a winning team.

How do we make work meaningful?

Some jobs can be repetitive like operating a machine or performing a series of steps multiple times a day; some jobs can be very stressful because one is dealing with uncertainties and cannot plan for the tasks that can land on one’s desk. Paying right, offering salary hikes, sending one for training, recognising one by incentives, making the workplace filled with fun and several perks and similar such steps are desirable. However, they do not make the job interesting and exciting. An employee cannot feel enthused for long with these interventions. We have to make the job seem valuable and meaningful; we have to make the employee feel that the efforts put in each day by him or her to do the job well are worthwhile.

Going back to the shopping mall example, we should possibly get the visitors to talk about the mall, the employees working there and the businesses operating there talk about the mall to the people who built the mall. Similarly, our milkman, delivery person, driver, grocer, domestic help, call centre executives, the admin person at the office, the assistant at the pantry, member of the housekeeping staff and many such people will find the meaning of their jobs when the stakeholders benefit by them can describe their experiences and offer gratitude to them.

And the millions who are in white-collar jobs will similarly find their jobs meaningful when we can get the ultimate beneficiaries of their work to express their gratitude. Businesses have to organise stakeholder meetings that can help their people understand customer needs and stakeholder expectations directly from the horse’s mouth. Further, these sessions develop an appreciation of the purpose and impact of one’s work in others’ lives. We build a better future together!

The post #BuildingTomorrow: Create Meaningful Jobs appeared first on CIEL HR.

Understanding the context

The disruptions are on multiple counts – some industry sectors such as hospitality, tourism, retail and the like are yet to get back to pre-pandemic situations. Some employees are yet to come to terms with the loss of human lives they have witnessed around them and want to lead their lives in a place that seems more secure for them; they are leaving their regular jobs to take up assignments that pay them poorly. And at the same time, companies in the sectors such as technology have several positions open, are in a big hurry to fill those roles because their investors want them to deliver revenues quickly and are willing to go to a great length in attracting people. As a result, there is huge mobility of people across companies. This is the time of ‘Great Resignation’

Possibly the leaders are caught up in solving the challenges posed by the uncertain and volatile environment and fast-paced aggression from the competing forces in the market. Hence, they are unable to engage with the workforce enough and nurture the social capital they built in the past. Hence, employees are willing to move out to pastures that look greener and more exciting in terms of pay and a few other novelty factors. What can leaders do to attract the right talent?

Knowing what one is known for

All of us know that our workforce is composed of a significant number of young people who seek quicker feedback, clarity of purpose, independence, transparent communication and empowerment. To succeed now, we have to make sure that our leaders are transparent, our communication is clear and timely; the feedback has to be quick and we have to give them the freedom and the space to perform their tasks. These have to be the elements of culture in an organisation, almost like the hygiene factors. We cannot highlight these in our employee value proposition. We need to be more discerning in bringing out our speciality. Else we will drown in the crowd and not be able to draw the right people to our organisation.

This is easier said than done. Ideally, a team with sharp attention to detail have to observe the behaviours of managers and team members in various parts of the organisation to define the special characteristics. Statements and opinions by the management team and HR team are at best claims and intents.

In today’s hyper-connected world, employees – current and past, candidates interviewed in the past, vendors and partners who have experienced the behaviours of some employees and the customers who avail services and buy the company’s products spread the word about the company. If there is a gap between the claims and intents expressed by the company’s representatives and the experiences described by the other stakeholders, employer branding takes a beating.

Hance, leaders have to keep their eyes and ears grounded, know what they truly stand for and make sure that their behaviours each day reflect what they truly stand for. If there are differences, they have to re-examine their beliefs about what they stand for and transform if there is a need.

Building the practices right and following them rigorously

The value proposition needs to be communicated to candidates and potential employees. If an organisation works with multiple recruiters, it is a challenge to communicate the story consistently. We need to recruiter to understand the purpose, recent achievements and immediate priorities; keep them in the context while telling the story compellingly. Companies undermine the import of this aspect often.

Secondly, the people involved in sourcing, screening and assessing (SSA) the candidates need to look for the same set of parameters. They need to know the tools to use; the behavioural indicators to look for and the contra indicators to be watchful for. Sometimes, the people involved in the SSA steps inject their own biases related to educational institutes, qualification, company pedigree, family background, prior relationships, hobbies, interests and many such. Often organisations do not have this piece in utter chaos.

Last but not the least, we need to be cognizant of the contemporary pressures and trends. For example, as we speak, employees are seeking flexibility, attracted towards an environment that deploys technology, promotes camaraderie, pays fairly, respects professional stature and so on. We need to make sure that our practices tick all these boxes.

The great talent war is acutely competitive now. We have to prepare well and battle hard.

Are you looking to hire new talent for your startup but worried about the consulting fees? Find Right Talent with CIEL Rapid.

Read also:

• 9 Essential tips to select the best placement agency in India
• Why is a recruitment agency better suited to find the perfect candidate for your business?
• How do Recruitment agencies work?
• Recruiting trends in 2019
• How SMEs can Hire Fast and Hire Right
• 3 Ways You Can Reinvent Your Recruitment Strategy Without Looking Like An Amateur
• 5 Ways to Incorporate Video Into Your Recruiting Strategy
• Key to Attracting the Right Talent
• How different is hiring for Startups?
• Hiring Right Talent is an Art
• Guide for Hiring Talent

The post #BuildingTomorrow: Key to Attracting the Right Talent appeared first on CIEL HR.

A similar success story is for Amazon having diversified into cloud services and established itself as a global leader in the field. The story of Apple having diversified from desktops and laptops to phones, tablets and watches is legendary. We have many examples of failures as well; the research by Chris Zook, author of Beyond the Core shows that the success rate of such growth initiatives is only 25%. Considering such poor results, one wonders if companies should go beyond their core.

Are you ambitious?

The moot point is the ambition to create an impact and expand it continually. Sometimes the top leaders are either tired or complacent; sometimes, they are a bit short-sighted or do not have hope for a bright future. They shy away from exploring new opportunities. They see several obstacles and challenges such as saturated markets, overcrowded with a myriad of competitors, low margins, regulatory restrictions and the like. They rationalise their decision to maintain the status quo.

The ambitious are driven by the desire to expand and hence, see opportunities in terms of new geographies, new segments, new products or services, new distribution channels, deepening the penetration and sometimes, opportunities outside their core competency. The ambitious believe that growth is life and hence, they explore new vistas of life.

What are the possibilities?

Chris Zook in his book has outlined six strategies of growth. In each of these formulae, there is a common theme – getting out of the comfort zone and discovering new opportunities. One might expand into new territories, bring up new product ideas and inject new ideas into the work processes to generate greater value for the business. In each of these, one could discover new profit pools either by the addition of new customers or introduction of new product lines or transformation in the ways of working. How do companies choose one strategy? Do they go after new territories or new channels or new products or new processes?

It is easy for an automobile company to go into electric mobility because of the global trend in favour of green energy. However, how does a petrochemical company decide to get into retail?

It is hard work, not a matter of good fortune!

Ambitious people and organisations actively engage in spotting possibilities and evaluating them. They keep thinking about their core competencies and compare them with the other players in the market. They ask their customers, employees and suppliers to identify their distinct strength. They have to achieve an alignment between the distinct strengths identified by their stakeholder and the beliefs of the core team.

Keeping the core competencies in mind, the top team has to evaluate if the new possibilities and opportunities are worthwhile to pursue. There could be situations where the opportunity is lucrative and the organisation sees a huge gap between their current strengths and the desired strengths. In such cases, they need to evaluate if they can acquire the talent needed for successful execution. Companies like Dell would have thought about it deeply when they decided to add new channels of selling computers; also when they decided to diversify into IT services.

Diversified groups like Tata, Reliance, Aditya Birla, Murugappa, Adani, M&M, ITC and the like have well-established processes to identify opportunities, evaluate them, delineate the competencies needed to succeed in them, assess the risks and rewards for each of those opportunities and put their bets on one or two of those.

It is hard work of strategic thinking, meticulous planning and needless to say, rigorous execution in every step right from the stage of identifying core competencies and spotting opportunities. It is no surprise that only 25% of the growth initiatives succeed.

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What to do at work when you’re going through something at homeInfographic by Quill

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Our world of business is changing fast. Leaders are expected to act quickly and definitively. The old ways of doing things are changing quickly. The leaders need to acknowledge the change and adapt swiftly. They have to inspire the layers of leadership beneath them to embrace the changes and succeed in dealing with the evolving reality. This is easier said than done. Which dimensions are likely to be crucial for success as a leader in the times ahead?

Love technology

We are witnessing rapid changes in technology which are disrupting the ways of life and thus making certain skills and jobs irrelevant and at the same time, creating a demand for new skills. This starts huge ripple effects in myriad fields of life starting from education in the schools and colleges to the kind of machines and tools we need to manufacture products. New materials and applications are available to mankind to make their lives easier and better.

Agriculture to services, every sector is seeing the use of new methods, machines, tools and inputs. Farmers, technicians, teachers, nurses, doctors, chefs, truck drivers, engineers, lawyers and politicians – name a profession, every job is undergoing a change. People are talking about using artificial intelligence, machine learning, augmented reality, blockchain, robotics, nanotechnology, gene mapping, 3D printing and many more. In another decade, we will see some more new technologies and their applications. We might see a slowdown in one field but there will be burgeoning innovation in another.

Irrespective of the domain, a leader has to keep a track of what’s new and what else can be done. One has to prepare accordingly!

Inject the spirit of innovation

As humankind is making progress, the economic situation of each person and family is improving. At the same time, the flow of information has become a lot seamless and democratic. Aspirations of individuals to consume more products and services have been on the rise. This socio-economic change is getting accelerated every passing year.

For the next few decades, we do not expect a plateau in this behaviour. Hence, leaders need to recognise this and be innovative at a pace faster than ever before. They have to be building the culture of innovation to thrive in the days ahead. Every company aspiring to lead its sector has to be adopting the practices that the world’s most innovative companies follow.

Be humanistic

We will see more technology and human-machine collaboration to make our lives enriching and meaningful. Factories and offices will increasingly go digital and automated; however, enterprises will make progress with human beings and leaders are going to manage them. Will there be some changes in the way human beings take responsibility, deliver results and decide to walk the extra mile?

Basic qualities of human beings are not likely to change. Hence, adults will continue to love freedom and independence; they will continue to appreciate trust and faith posed on them; they will continue to have a need for achievement and recognition. They would love to add value and grow as human beings so that others respect them. Human beings will have intellect, ego and a range of emotions. They love being listened to, empathised with and coached to reach their full potential. A leader has to know how to leverage all this knowledge in his or her actions and behaviours so that the people working in the enterprise work harmoniously and effectively.

Machines and technology can automate processes and bring in speed, accuracy, reliability and comfort for the men and women working in a factory. However, they cannot define the way of life in the organisation. They cannot decide the vision and the strategic plans for the company. A leader has to not only devise the plans but also communicate the same and involve his or her workforce in it. Given the social changes, a leader has to know how to involve and engage the members of the team in these critical activities. This is no different from what a leader does now. However, this is a significant aspect of evolving as a leader for the future because the methods used today may not work tomorrow.

There are multiple paths to the destination. Based on the path chosen by the leader, the journey gets defined and the experiences gathered along the way define the success or failure of the leader. Like Mother Theresa said, a leader must cast a stone across the water to create many ripples.

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