How leaders can embrace five paradoxical mindsets to become future-fit

To sustain performance in the future business environment, leaders must unlearn old ways of thinking and embrace five paradoxical mindsets.

Human augmentation technologies, growing economic inequality, climate change and the maturation of Generation Z are just some of the megatrends reshaping the business environment.²  Shrinking life expectancy of businesses suggests leaders are finding it increasingly difficult to achieve lasting success. In the past 30 years, 75% of UK FTSE 100 companies have disappeared, meanwhile those on today’s Fortune 500 list do well if they last 15 years.³

Old ways of thinking and acting in business are being applied to a fundamentally different context.  To help leaders adapt, many studies have explored the future-fit skill set leaders need to be equipped with, but few have examined the shift in thinking also required.

To find out more about this much-needed shift in thinking required, we carried out further research interviewing leaders from a variety of industries and countries.

Our findings showed how alongside being purpose-led,⁴ a distinguishing characteristic of these leaders was their ability to hold seemingly paradoxical mindsets, balancing sets of conflicting beliefs, attitudes and values.

How can a paradoxical mindset enable better performance?

A paradox refers to ‘contradictory, yet integrated elements that exist simultaneously and persist over time’, and it has long been recognised that paradoxes can present challenges and yet serve as a source of peak performance and creativity.^8,9

In terms of adopting a set of paradoxical mindsets, this is about leaders moving away from simple, ‘either-or’ thinking and towards a more complex ‘both-and’ approach. It’s about leaders becoming comfortable operating within the sweet spots of seemingly contradictory beliefs, attitudes and values to achieve high performance. This suite of paradoxical mindsets is not about amplifying one aspect of a certain mindset depending on the moment, it’s about consistently ‘being both’ across numerous situations.

The five paradoxical mindsets leaders need to be future-fit:

Our findings suggest five paradoxical mindsets are essential for leaders to adopt if they are to be successful in the emerging business context, namely:

1. Responsibly daring
   
   “I believe everything is worth trying and anything is possible, and I’m accountable for what we achieve and how we push the limits.”
   
   Responsibly daring leaders are audacious. Such leaders see opportunity in challenge and feel responsible for making a difference. They see the positives, focus on the future, drive innovation, and take responsibility for their brave actions.
   
   
2. Ruthlessly caring
   
   “I make tough decisions to achieve performance and I must remain compassionate no matter what“
   
   Ruthlessly caring leaders are determined professionals who value human connection. They treat people with respect, are highly supportive and challenging, and handle the emotional impact of tough decisions.
   
   
3. Ambitiously appreciative
   
   “To achieve ambitious goals, I need to be relentless and determined and I need to find a way to be sustainable and keep perspective.”
   
   Ambitiously appreciative leaders are highly driven, never satisfied and yet manage to keep challenges in perspective. They set demanding objectives, celebrate performance as well as attainment and appreciate the things that matter to people in life.
   
   
4. Politically virtuous
   
   “To enhance performance, I’ve got to be shrewd in the circumstances and I always have to do the right thing.”
   
   Politically virtuous leaders are savvy, genuine and have integrity. They influence others, live their values, are open about what they can and cannot talk about, and effectively navigate tough decisions where there is no ‘right’ answer.
   
   
5. Confidently humble
   
   “I inspire others to have confidence in me and my ability and I’m honest about my limitations, aware that I can’t achieve ambitious goals alone.”
   
   Confidently humble leaders are self-assured, decisive, and driven to learn about and from others. They are honest about their limitations and build their credibility.

Ensure your leadership is future-fit

Future-thinking leaders are driving performance by holding five contradictory mindsets. To perform effectively within the new business context, leaders must let go of outdated ways of thinking and embrace this new set of seemingly contradictory beliefs, attitudes, and values. These are the modern mindsets leaders need to equip themselves with. This is the 'both/and' way of thinking leaders must master to become future-fit.

This article has been created using insight extracts from a book “Ruthlessly Caring: And other paradoxical mindsets leaders need to be future-fit” which was published by John Wiley & Sons, January 2023. The book offers more insight into the mindsets leaders need to thrive in a new era of business.