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In today’s rapidly evolving business landscape, business leaders must be more dynamic than ever in their approaches to leadership development.
Shifting workforce demographics—coupled with the rise of emerging technologies like AI and automation—present both challenges and opportunities. To stay ahead of the curve, strategies must be adapted.
Success Labs, a Baton Rouge leadership development and management consulting firm, is witnessing these changes play out in real time. Business Report sat down with CEO Devin Lemoine and partner Melissa Thompson to glean their insights about how businesses can future-proof their talent development tactics.
1. Millennials are taking over.
By 2025, millennials are expected to account for 75% of the global workforce. This generational shift brings with it changes in workplace expectations. Millennials and Gen Z expect flexibility, transparency and opportunities for advancement. Lemoine and Thompson point out that these younger generations are often eager to step into leadership roles because of their desire to meaningfully contribute to something larger than themselves. Businesses should offer leadership development programs that are aligned with these generational preferences.
TIP: Create leadership development programs that cater to the preferences of millennials and Gen Z by outlining clear career paths and opportunities for advancement.
2. Embrace emerging technologies with a human touch.
Emerging technologies like AI should be considered in leadership development, but according to Lemoine, retaining a “human element” remains essential. AI may expedite processes, but strong leadership fundamentals like open communication and relationship building must always take precedence. Thompson likewise emphasizes that technology should enhance human work, not replace it.
TIP: Consider using AI to enhance your leadership development programs, but ensure that open communication, interpersonal interaction and relationship building remain central to your approach.
3. Hybrid work brings new challenges.
The COVID-19 pandemic accelerated the shift to remote and hybrid work—a shift that has reshaped how leaders manage teams. Lemoine says that while new technologies make it easy to work from just about anywhere, they also pose significant leadership challenges. For example, how can businesses ensure that their employees are doing what they’re supposed to be doing? And how can businesses maintain or improve company culture when their employees rarely interact with one another in person? Many businesses are still working out how to lead effectively in this “new normal,” but it has become clear that managing hybrid teams requires clarity in expectations as well as frequent communication.
TIP: Focus on strengthening leadership skills that lend themselves to managing hybrid teams, such as setting clear performance expectations and encouraging collaboration and communication among team members—even if they’re miles apart.
4. The AI Factor
As an adjunct faculty member at LSU’s E. J. Ourso College of Business, Thompson has seen firsthand how eager younger generations are to adapt to AI tools like ChatGPT. Even so, developing critical thinking skills remains essential. To that end, Thompson integrates AI into her curriculum—“they’re going to use it anyway,” she says—but emphasizes the need for her students to understand that AI output is nothing more than a first draft. What her students turn in should be something like their 10th draft.
TIP: Consider using AI as a foundation but focus on mentoring young talent to build upon that foundation, thereby honing their critical thinking and decision-making skills.
5. Prepare for the future.
Succession planning has long been essential to most if not all businesses, yet many still struggle with it. Lemoine says businesses must be intentional, proactive and transparent in their approach to leadership development and succession planning. Without clear plans for future leadership changes, businesses risk losing top talent to competitors. Lemoine encourages businesses to involve their future leaders in that planning process to ensure commitment and continuity.
TIP: Develop a structured, transparent succession plan that clearly communicates opportunities for career advancement and ensures future leaders are prepared for their roles.
