Success isn’t achieved by solely following a roadmap set by industry leaders. Leadership style is crucial, and recently, transformational leadership has received praise for fostering holistic growth. Transformational leaders are those who inspire change on an individual level. True transformational leaders in business take pride in being wholeheartedly involved in business, leading confidently, having a loyal workforce, and being considered influential members of society. As such, many transformational leaders are also considered revolutionary leaders of India.
Among the most admired leaders in India is Sanjiv Bajaj, Chairman and Managing Director of Bajaj Finserv. Known for his progressive ideals and empowering morals, he’s among those who fit the bill of a transformational leader. “Successful leaders, across the world, are those who have been able to build success over the long term. They continuously innovate, transform and reinvent themselves,” he says.
Like many revolutionary leaders in India, Sanjiv Bajaj’s perception of success for top industry leaders is focusing on the big picture and building a culture of innovation. Simply emulating these winning traits of transformational leaders doesn’t guarantee success. Industry leaders need to understand the nuances of this leadership style and realise that the workforce is the true enabler of success. This is the essence of transformational leaders.
Read on to learn more about the right approach toward transformational leadership.
Individualized consideration: A medium to build effective relationships
For transformational leaders, effective relationships are a vital component of success. These industry leaders take the time to nurture employees, breeding open lines of communication to build a sense of camaraderie and engagement. These aspects encourage employees to go beyond the expected. One example of a transformational leader known to have leveraged the gains from cultivating relationships is Jonathan Becher, Chief Digital Officer of SAP.
Realizing that his team needed a leader in tune with its needs – one who celebrated achievements and treated failures as learning experiences – he assumed the responsibility with aplomb. By enabling internal experts to learn and upskill and having them guide the team, he reduced reliance on external help and boosted employee ownership towards the enterprise.
Idealized influence: A tool to inspire winning work practices
A transformational leader is often charismatic. This natural trait helps such leaders exude confidence and be seen as truly inspiring. Their actions and behaviour engender both respect and trust, and this serves the strategic purpose of encouraging their workforce to emulate their winning aspects. This sphere of influence includes, but isn’t limited to, being proactive, optimistic, vocal about feedback and expressing gratitude.
Ratan Tata, a top Indian industrialist and former chairman of Tata Group, is among the many transformational leaders in the business known to exhibit this trait. He frequently expressed his gratitude to colleagues across the country in person, and his actions had unseen ripple effects on team morale.
Inspirational motivation: An enabler toward a shared vision
A winning trait of these leaders is that they ensure employees are just as dedicated and motivated as themselves. This outcome is critical to success. Transformational leaders achieve this by building a shared vision, eliminating fears and tapping into the power of intrinsic motivators, driving growth from within.
- D. Rockefeller, the creator of Standard Oil, is among the transformational leaders who best mastered this trait. He bred accountability across ranks by instilling a unified vision, leading the organisation to become a global behemoth.
Intellectual stimulation: The secret to creativity, innovation and retention
Transformational leaders realize that employees who take the initiative have the power to transform their organisations and operations. They provide intellectual stimulation and a sense of ownership to boost critical thinking and innovation. This tactic creates an environment where employees feel comfortable pushing limits and exploring new perspectives. This builds a workplace where they feel valued and breeds loyalty too.
Sanjiv Bajaj, one of the famous transformational leaders in India, is an excellent example of a leader who creates such an environment for employees. His organizational growth approach ensures that everyone has an owner mindset and acts with that rigor. “We empower our teams tremendously… It is like you are building your own business, and you are also fully accountable for it… This has unlocked significant energy and innovation,” says one of the most admired leaders in India.
Transformational leaders in business are industry leaders that put stock in the workforce. Investing in them and enabling them to be their creative best simply boils down to a matter of value in, value out. In doing so, they set the stage for success and often go on to lead innovative eras that revolutionize industries as a whole.