What do CEOs talk about? A Call to Action

I’m honored to serve 22,000 employees as the CEO of Mercer. It also allows me to speak to many CEOs and C-suite members. The common theme of our conversations, which will not be a surprise to you, is that change is happening faster than ever. The potential for that change to impact their company’s business model and how they lead today and in the future is real.

An article recently published by ChosunMedia, a leading news outlet in South Korea, focused on trends CEOs see in 2018. The Wall Street Journal published an article on the same topic. These articles contained interesting insights from leaders all over the globe. I enjoyed reading the perspectives of all of the contributors. It’s clear to see that business as we once knew it is not just changing, but it’s being greatly redefined.

One can argue that in a period where the future is being revolutionized and thus is less certain, CEOs should feel freer to explore and refine business in ways not previously considered. This might even include leadership actions that at one time may have been considered taboo. CEOs are now at a point where their commitment to leadership means much more than just ensuring balance sheets stay in the black.

There are 3 leadership trends, amongst many others, which are emerging and propelling the C-suite to rethink their future leadership model:

1) The CEO as a Statesman- We are experiencing globally a big shift in the center of global power, anti-establishment and general dissatisfaction with the status quo. This impacts, amongst other things, the role of the CEO. In a world where there is so much uncertainty and unparalleled fast-paced change in many ways filled with unpredictability, people will be in search of normalcy and safety. CEO leadership strongly grounded in business purpose and values will be needed more than ever. CEOs who have traditionally shied away from speaking out on social, political and safety issues will find it more difficult to do so. The balance will be tilted towards EQ inspired leadership approaches as many individuals will have a heightened need for a sense of belonging and safe harbor.

 2) CEOs leading the Future of Work and its impact- Mobile workers, temporary shared work spaces, AI, robotics, robo-advisors, advanced algorithms, contingency work opportunities, portable benefits, re-skilling colleagues, autonomous vehicles, overall tech advances, 3D printing, etc.. Need I say more?

 3) C-suite retiring the term “Retirement”: New Mercer research across 11 countries and different industry groups focusing on financial security confirmed that many people feel financially insecure and stressed, shaking their confidence and ability to save. Two-thirds of people expect to never retire, or keep working after retirement. In fact, 70% of millennials expect to keep working later in life to maintain their desired quality of life… and sanity! This raises some fundamental questions about how we view retirement, financial security, careers, workplace productivity and health benefits for a population where many will live beyond 100.

The world as we know it has entered a new phase of “industrial revolution”. The gauntlet has been thrown. 2018 is going to be a very interesting year for every CEO. Who will come out ahead is still being  determined, but there is little doubt that the above mentioned trifecta will play an important part in planning for that winning formula…..starting in 2018.