Five Predictions for Leaders in 2024 - Are You Ready?

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Predictions are tricky things. People want to make them and read them, but that doesn’t mean they will be all that accurate. With a dose of humility here are five of my predictions for work, the workplace and leadership in 2024. I will share them and some actions you can consider as an organization, team, and leader for each.

The Where to Work (WTW) Conversation Will Continue

After the pandemic forced remote work on so many, the way society has viewed working choices has changed forever. Since the pandemic fears faded, the discussion about where people “should” work has grown. While you might think it is all settled back in, it really isn’t. The rise in union-talk, lack of comfort and the low satisfaction with the post-pandemic polices of work locations shows that. These conversations will continue.?

This year, I believe people will start to move from compromise approaches that not everyone loves, to create new norms and agreements that can create greater success.?

What You Can Do: Recognize that we are living through a massive change in where, when, and how work is (and can be) done. Continue to explore the best ways for work to be done on your team. Let people voice their concerns and allow the conversation to create better understanding and commitment, rather than pushing people to us/them conversations. And continue to build your skills and confidence to lead in this changing environment.

The AI Revolution will be More Mainstream – and Meaningful

Most have heard of ChatGPT and other AI tools, but only 1 in 3 people have tried them. As the models get better, more people try them, and more specialized and niche apps take hold, AI will go more mainstream. As fear is mitigated (like with any technology), use will go up, and results will follow. While ChatGPT and its competitors were released in 2023, the impact will broaden in 2024.

What Can You Do: If you are in the 2/3rds of people who haven’t tried these tools, start. Talk to your team about who is and isn’t using them – and let those who have been using them share successes and lessons. Then have real conversations about how you can and can’t use them to change the productivity and results for your team.

The Rolling Recession Will Continue

For the last 18 months economists and experts have been talking about the coming recession and whether it will be a “soft” landing or more abrupt in nature. Many believe that we have been experiencing a rolling recession – with different industries experiencing recessionary conditions while others didn’t (Here’s a more complete description ). I predict this rolling recession will continue for part of 2024. This means that your industry may be moving into or out of your own downturn.

What You Can Do: Understand the economics of your company and industry. Help your team see and understand these factors. That way you can operate based on what makes sense for your business, rather than listening to the general media for clues and ideas.

DE&I Investments Will Begin to Wane

I am not suggesting that there isn’t value and importance in DE&I activities. Regardless of value, the trend across all businesses is that investments will begin to drop. Since many organizations have been investing in their training and awareness efforts for several years, the investment priorities will change in 2024.

What Can You Do: If your organization has invested, continue to reinforce, and model the skills and mindsets taught. If your organization is in the middle of, or starting an implementation, participate and lead in those efforts. And even if the priorities seem to change or have changed, continue to apply what you have learned with your team.

Investments in Leadership Development Will Create Competitive Advantages

The research shows that overall investment in leadership development has dropped since the start of the pandemic. At first this made sense. For many organizations, getting the work done in new conditions took all the focus and investment. But since the lockdowns were lifted, many organizations haven’t refocused on developing leaders.?

This has created a real strategic opportunity for organizations that have (and will) reprioritize investments in developing their leaders. When leaders are more confident and comfortable in their roles, they are more likely to stay – and so will their team members. Stronger leaders create better results and is one of the best ways to attract and retain talent.

What You Can Do: If you are a leader with decision-making power, invest in developing your leaders. Don’t wait for this to become an organizational priority. Make it your goal to help your leaders – and all team members continue to grow and develop their skills this year.

And One More, Just for Fun

Pat Sajak will retire from Wheel of Fortune this year after hosting the show since 1981 (that isn’t the prediction). I predict there will be tons of commentary and stories about how much people miss him, regardless of how well Ryan Seacrest does.

What this means to you: If you are a Wheel fan, watch all the Pat you can. If you aren’t a Wheel fan, this won’t affect you at all.?

It’s Your Turn

Share in the comments your answer to this question… what are your predictions for leaders in 2024?

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