The Biggest Leadership Stories of 2023

Why do we have to work at the office? The ongoing return-to-office dilemma, along with a contradictory job market, a CEO exodus, and the influx of AI, are the topics of Korn Ferry’s most talked-about stories of 2023. Plus, our experts examine the increase in so called “dry” promotions and why leaders face an even tougher challenge this year to keep employees engaged right before the holidays.

The Best of This Week in Leadership

In 2023, inflation slowed down, but so did economic growth. More workers found themselves back at the office. And everywhere, people fretted over what AI will mean and do to the business world. Throughout it all, Korn Ferry’s experts delved into all of those topics, and more. Here are nine of our biggest and most-talked about articles of the year.

View our top stories from 2023.

High and Dry on Pay

It’s a practice that gained popularity during the pandemic; since then, it has grown into a new normal for many employees. No, it’s not flexible work—it’s getting promoted without a pay raise.

Nearly?one in four workers?who were promoted this year received a title change and additional responsibilities, but no corresponding pay increase, according to a new survey. This year, 37% of workers got these so-called “dry promotions,” a steady rise from 32% at the start of the century. Experts say there are multiple reasons why the trend is likely to continue.

Read the full article here.

‘I’m Done for the Year.’ Really?

The actual calendar may say something different, but in growing numbers, executives are facing employees who are just—well,?finished.?A?new survey shows that more than one in five workers plan to take as much vacation time as possible before year-end, causing workplace-scheduling woes for leaders trying to complete projects and meet customer needs.?

While the “I’m done before the holidays” attitude isn’t new, the desire to pack it in early is worse this year.

Read the full article here.

Other Must-Reads from Korn Ferry

• Briefings Podcast:? The Job Hunt—The Best and Worst of Times - Despite low unemployment, nearly half of Americans describe the current job outlook as “bad.”?We chat with two experts on how to land a great new gig… and ask for more money.?
• 6 Ways to Keep a Project Going Through a Holiday Break - It’s common at this time of year for projects to get put off. Career-minded workers are thinking ahead to 2024.
• How Purpose and Profit Can Peacefully Coexist. - Dan Goleman explains why these two values are not opposed to each other, as many believe.?

Check out?Briefings , our bimonthly national magazine, for in-depth and unusual looks at critical leadership issues.