As a leader you face many challenges. There are however some top challenges that you need to address to achieve success. So what are they and what can you do about them?
Challenge 1: Human resources management
Attracting, retaining and managing talent is one of the biggest challenges you face as a leader. The best people are becoming more conscious of the choices that they make when deciding which organisation to join. They want to be sure that the organisations they work with take their development seriously and have a structured approach to developing and growing people. Take the time to look at how effectively you and your organisation are when it comes to recruiting, retaining and managing your best talent.
Challenge 2: Change resistance
Change in business is inevitable. Even if you have had a period of reasonable stability, it won’t be long before you need to take some action to move your business forward or stay competitive. Change can only be accomplished through others and yet people are often resistant to change. As a leader it is important that you recognise that resistance is part of the cycle of making change. You need to allow the time and space for people to come to terms with the change and then support them to make the change.
Challenge 3: Short term focus
In organisations there is a tendency to focus on the short term. Leaders are expected to deliver results at rapid speeds and if they don’t they can find themselves relieved of their role. While it might be tempting to focus on short term, quick wins, the outstanding leaders are those who created long term sustained success. As a leader, commit to long term success and develop a compelling strategy to achieve that long term sustained success.
Challenge 4: Finding good managers
You might have the best team of leaders around but unless you also have good managers you will struggle to get results. Managers are the key bridge between the strategy, action and results. They are the people who make things happen on the ground on a day to day basis. As a leader you need to find and develop your managers so that they deliver the performance levels that you need.
Challenge 5: Surviving the downturns
The economy and market place will not always be thriving and there will be downturns from time to time. As a leader you need to put in place plans so that you can survive and continue to prosper during downturns in the economy. This includes making sure that you are creating some reserves, that you have a portfolio of different offerings and having a structured and systematic approach to risk management.
Bottom line – Being a leader is demanding and success is never guaranteed. So what challenges do you need to address to thrive as a leader in your organisation?
Since 2006 I’ve worked with in excess of 6,000 accountants and professionals in workshops, seminars and one to one helping them land their next jobs and become better leaders, presenters and business partners. Before that I spent 25 years in accountancy climbing the career ladder from Payments Clerk to FD. I’m a CIMA Fellow, Certified Professional Coach and Team Coach Facilitator.