Over the past 16 months, author Jacob Morgan interviewed over 140 CEOs from companies like Audi, MasterCard, Unilever, Best Buy, Oracle, Kaiser, Verizon, and dozens of others. This was all done as part of the research for his new book, The Future Leader, which examines what it will take to be a leader in 2030 and beyond. One of the questions Jacob asked all of these CEOs was around the most significant trends shaping the future of leadership.
These are the six trends they identify that will play a significant role in shaping future leaders over the next decade and beyond. It's true that we are seeing these in action today, but over the next ten years, they will be front and center.
AI and Technology
When Jacob asked CEOs what they viewed as the most significant trends impacting leadership, the most common answer he received was the growth of artificial intelligence and technology. It's no secret that technology is evolving at a breathtaking pace. Artificial intelligence has the power to transform how businesses operate entirely, and people work. But with the excitement of AI and new technology comes fear and uncertainty. It's up to leaders to assuage those fears by looking for ways to implement AI that adds to employees instead of replacing their jobs. Leaders need to calm fears and remain positive about new technology. They need to be well-versed on AI and experiment with new technologies to help others understand the potential impact on their jobs.
Pace of Change
Right alongside the growth of AI and technology is the overall pace of change. How we live and work is drastically different today from what it was five years ago—let alone 20 or 30 years ago. Change surrounds us in climate change, globalization, diversity, and dozens of other things. Change is constant and has always happened. What's different about today is the rate at which change occurs. To be successful, organizations must continuously be looking forward, and leaders must lean in and embrace change instead of shying away. Future leaders need to be agile, easily adaptable, and comfortable challenging the status quo.
Purpose and Meaning
While companies used to easily attract top talent with the promise of a high salary, that's no longer the case. Employees now want to work for an organization that offers purpose and meaning, and they're even willing to take a pay cut to get it. Purpose is the reason for an organization's existence and often includes investing in employees, making a difference in the world, or driving innovation. Meaning is the personal impact of each employee's work. Employees want to see that their efforts are impactful and contributing to the overall purpose of the company. To set the example, leaders must first understand their job, mission, impact, and meaning before helping their employees do the same. They need to get to know employees individually to understand what motivates them.
New Talent Landscape
Recent years have brought tremendous change to the overall talent landscape, and it's only just beginning. As older employees retire and younger generations enter the workforce, many companies find themselves on the constant hunt for skilled employees. At the same time, diversity and inclusion are becoming even more critical. The new talent landscape is more than just changing demographics; it's a new approach to attracting and retaining talent while also training and upskilling employees to be prepared for the future. Leaders of tomorrow should strive to develop diverse teams and create an inclusive environment. They need to invest in upskilling employees while also finding ways to involve older employees and motivating employees of all ages to take control of their career development.
Morality, Ethics, and Transparency
Gone are the days of controlling leaders trying to be the smartest person in the room. A recent push for morality, ethics, and transparency has led to more authentic and humble leaders. Companies with ethical foundations perform better financially and have higher customer and employee satisfaction. These types of organizations are created by moral leaders. At the same time, leaders are being put under a microscope as people demand transparency. Leaders can no longer hide behind their titles—they must be open and honest to their companies and the public. Leaders of the future must determine their moral compasses and have a strong sense of their personal beliefs. Simply standing still is no longer good enough; leaders need to take a stand and be as transparent and authentic as possible.
Globalization
As technology grows, the world becomes more connected and seems smaller. Each country used to be its economy, but now we can work with and communicate instantly with people all over the world. All businesses are now global and have the potential for worldwide employees and customers. Globalization brings complex geopolitical issues and great opportunities to collaborate and share cultures. Future leaders need to embrace globalization by becoming global citizens who appreciate different cultures and know how to communicate across cultural and language barriers. Different ideas should be viewed as opportunities, not fear-filled challenges. Leaders of the future need to pay attention to global issues and understand what is happening around the world.