Embracing technological advancements and orchestrating digital transformation initiatives are paramount for staying relevant and competitive in the market, Brunei Institute of Leadership and Islamic Finance (BILIF) Chief Executive Officer (CEO) Hajah Sufinah binti Haji Sahat said.
She also highlighted the two critical challenges faced by leaders today in her opening remarks at The BILIF-ILIA Leadership Forum 2023.
“The life of a modern-day leader is undeniably challenging. Within their organisations, they must lead and motivate diverse groups, collaborate across international boundaries, improve efficiency, and drive growth,” she said yesterday.
“Externally, they navigate a complex, globalised environment, managing competition, and stakeholder expectations. In today’s interconnected world, leaders are increasingly held accountable for their organisations’ impact on the planet and society, requiring them to incorporate ESG principles into their strategic decision-making, risk management, and reporting to secure a sustainable and responsible future for our nation.” The BILIF CEO said the first critical challenge is managing an increasingly multigenerational workforce with diverse generational perspectives. “As we witness the oldest of Generation Z graduating and joining the job market, organisations are presented with unique challenges as our workforce becomes more multi-generational. Bridging the generation gap and fostering effective communication and collaboration among individuals with different work styles, preferences, and values can be challenging.
Younger generations, she said, “such as millennials and Generation Z, often seek flexibility, rapid advancement, and a strong work-life balance, while older generations like Baby Boomers may prioritise stability, experience-based decision-making, and a hierarchical approach to work. Striking a balance that accommodates the needs and expectations of all generations can be intricate, necessitating tailored approaches to leadership, motivation, and feedback.”
She added, “We must tread lightly, as the inability to meet the needs of this diverse workforce and expectations could not only result in inefficiencies, conflicts and talent loss but also the increasing concern of ‘quiet quitting’ which often goes unnoticed or is misinterpreted by management. Quiet quitting is what happens when someone is psychologically disengaged from work. They may be physically present or logged into their computer, but they don’t know what to do or why it matters. In the State of the Global Workplace 2023 report, nearly six in 10 employees fell into this category.”
Another challenge, she shared is “modern-day leaders must also confront the relentless march of technology. The digital revolution has transformed the way organisations operate, communicate, and compete.”
Hajah Sufinah added, “Leaders must not only keep up with the latest technology trends but also understand how to leverage them strategically to drive innovation, enhance customer experiences, and streamline processes. These challenges extend beyond just adopting new tools; it involves fostering a culture of adaptability and digital fluency throughout the organisation while also mitigating the potential downsides, such as data security concerns and the displacement of certain roles due to automation.” Effectively navigating through the digital landscape, she said, “is a critical imperative for leaders in our generation”.
Minister of Home Affairs Dato Seri Setia Awang Haji Ahmaddin bin Haji Abdul Rahman, the guest of honour at the forum, delivered the keynote speech. The forum organised by BILIF in collaboration with Institute for Leadership, Innovation and Advancement (ILIA), Universiti Brunei Darussalam (UBD) was attended by professionals from both private and government organisations such as the Ministry of Religious Affairs, Bursa Brunei Darussalam Sdn Bhd (BNX), United Overseas Bank Brunei, RHB Bank Brunei and Royal Brunei Airlines.
The forum, themed, ‘Next-Level Leadership”, aimed to explore practical leadership strategies, as well as best practices for advancing leadership to the next level.
The forum also aims to discuss ways to promote inclusivity and effective management of diverse teams, while also addressing the challenges associated with leadership transformation. – James Kon
