What do leaders need to prepare for in 2024?

One of the mantras of the pandemic era was “never let a good crisis go to waste.” Companies everywhere used the public health crisis to change their businesses in ways hard to imagine before, from remote work to greater DEI awareness and an emphasis on employee well-being.

Now, we’re in another type of crisis, one of uncertainty.?We’re losing some of that ground we’ve gained and in the midst of economic uncertainty and budget cuts it’s a challenging landscape ahead for leaders.

On a global scale, the pandemic, wars, climate change and economic impacts have led the World Economic Forum to label this current era a polycrisis.

Now more than ever our businesses will look to the capability of their leaders to not just lead through these challenging times and navigate the uncertain future but also to bring everyone else along the journey and help ‘calm the farm’.

From the latest reports out telling us what 2024 holds and where our focus should be, here are some of the highlights.? The challenges we’ll face in 2024 and the things that need to be on our priority list and that our leaders need to be supported in delivering:

·?????? Humanising leadership in the digital age

·?????? Managing change and uncertainty

·?????? Forming connections and collaboration in a hybrid working environment

·?????? Budget cuts and restructures

If we’re to navigate these challenges, much of our success will be determined by our focus on these three priority areas:

·?????? Building a diverse and inclusive culture

·?????? Motivating and engaging the workforce

·?????? Building leadership capability

Global reports by the likes of Gallup tell us that stress levels are still high and engagement levels are still low but rising steadily.? For example, when Gallup asked managers what changes their organisations made in 2023:

• 64% said employees were given additional job responsibilities
• 51% cited the restructuring of teams
• 42% reported budget cuts

To succeed in 2024, leaders should consider how they might need to re-skill to better support the changing needs of their workforce and organisational culture.? This starts with the humanness of leadership, The vertical growth over the horizontal growth of our technical skills, much of which AI may be set to replace over coming years.

With major breakthroughs expected in AI leaders are looking to the opportunities, disruption and change this will bring.? Leaders will need to be staying ahead of the game and at the same time leveraging the humanness of leadership.? Which in my mind has always been the number one role and skill of a great leader.

With all that said, it makes sense that leadership capability is still very much on the agenda.? As with every challenge our business faces, it falls to the leadership to navigate those challenges and lead others through the uncertainty.? As we face these changes we need to support, prepare and develop those who will lead the charge and bring others on the journey.

With the impact of sustained inflation and the risk of economic downturn, among other disrupting events, businesses are relying on leaders at all levels to help steer the ship.? Our leaders need to be ready to support our businesses as they prepare for technological advancements and disruptions, climate change, building inclusive cultures, changing demonographies, misinformation, wellbeing and resilience to future crisis.

In 2024, we expect diversity, equity, and inclusion initiatives will become less of a unique, stand-alone concept and will instead be woven into the fabric of good leadership. No longer will DEI knowledge and skills be seen as optional or “nice to have;” instead, they’ll become integral components of what it means to be a leader as we build inclusive leadership for the future.

As the world of business keeps changing at a breakneck pace, one thing remains constant: leadership development is?as vital as ever.? In fact, it’s more essential than ever before to stay ahead of the curve and develop the skills necessary to lead and inspire in an age of?rapid technological advancements,?shifting priorities, an unpredictable economy, and significant social change.?

These are the human skills of leadership, our vertical growth, the stuff that sets us apart from robots and make the difference as we lead people through change and uncertainty.

If you’d like me to dial into your next leadership team meeting to discuss the challenges of 2024 and how best to navigate them get in touch for availability.