The last few years have been full of unexpected ups and downs for leaders everywhere. 2023 will likely have some surprises as well. The rapidly changing workplace will require new approaches to leadership from the C-suite to the front line. So, what leadership trends should you be ready for in 2023?
Leadership Trend # 1 – The Rise of Ethical Leadership
Values-based leadership will become increasingly important in 2023. In a world filled with uncertainty and change, leaders who can define and live by a clear set of values will inspire confidence in employees, stakeholders and consumers. Workplace trends like the Great Resignation and Quiet Quitting have brought attention to the need for stronger, more ethical leadership. Toxic work environments and win-at-any-cost leadership styles will no longer attract top talent and, when publicly exposed, will also drive away customers. Crestcom believes leaders will take a renewed focus on ethical decision-making as they consider strategic approaches to challenges in 2023.
Leadership Trend # 2 – The Evolution of the Hybrid Leader
Leaders have faced the challenges of shifting from in-person workplaces to remote-only to something in between. One survey found that 87% of people want to work from home at least one day of the week, and only 8% of remote employees are willing to return to in-person work full time. Balancing the needs of the business with workers’ preferences has created the need for new approaches to management. 2023 will see an evolution in leadership as managers develop new ways to create engagement, build teams and improve productivity in the hybrid workplace. At Crestcom, we predict an increased need for effective communication, emotional intelligence and time-management skills.
Leadership Trend # 3 – Increased Focus on Mental Health and Wellness
Employers will see an increased need to focus on Mental Health and Wellness in the workplace. The World Health Organization estimates that anxiety and depression cost the global economy upwards of $1 trillion annually. Chronic workplace stress and burnout have been major drivers of the Great Resignation, causing higher turnover rates, increased sick days, and ultimately lost productivity. In 2023, leaders must focus on creating a workplace culture supporting mental health and wellness. Crestcom predicts managers will need training in DE&I, unconscious bias, and conflict management to help support their teams.
Leadership Trend # 4 – The Urgent Need for Leadership Development
Leadership is the most significant leverage point to make improvements throughout an organization. The challenges of today’s workplace are complex and require leaders to embrace learning new skills and adapting to a rapidly changing business landscape. As Baby Boomers retire at increasing rates and the workplace continues to evolve, the next generation will need to develop their leadership skills. Organizations focusing on continuous development and learning systems for their employees will enjoy greater employee retention and engagement and be better prepared for an uncertain economic environment. Crestcom’s proven approach to transforming managers into great leaders has helped more than 1 million executives in 60 countries improve their leadership skills and make more thoughtful decisions. To find out more, find a Crestcom leadership expert near you!