Top 4 Leadership Trends To Watch For In 2024
Leadership is one of the most critical components of outstanding performance in any organization. The future of business will be shaped by leaders whose expertise is not in mastering business models and processes, but in anticipating needs and seeing opportunities beyond the current horizon – experts in shaping the future. To be successful, leaders need to know the direction in which things are moving and adapt their leadership styles to stay future-ready. With the global and local workforce growing, new technologies, and innovative practices coming into play, how will leadership look in 2024?Â
Here are top 4 leadership trends that one can expect in 2024:
In this article, we will cover:
1. The end of the “Rockstar” CEO and Rise of Hybrid Leader:
In 2024, there will be leadership changes that transcend beyond being a visionary and authoritative leader. We will see a rise in hybrid leadership that moves beyond transactional relationships to transformational leadership. To achieve leadership success, leaders will be required to be more adept at the hybrid workplace and engage in new ways to build teams and improve productivity. At its core, hybrid leaders are those who understand that erstwhile leadership styles may not necessarily work in today’s dynamic work environment. They embrace the servant leadership approach and are agile enough to bring into play their leadership skills, tools, and competencies through situational leadership. Â
Equally vital for hybrid leaders in a dynamic leadership environment would be to lead from a place of empathy for building strong teams and relationships. This bundled with professional skills of effective communication, emotional intelligence, and time management will set them in good stead to meet the demands of an ever-changing business landscape.Â
In this context, Hybrid Leadership, if exercised well, will serve to be an effective approach for leaders to lead in dynamic environments. Therefore it tops our leadership for 2024.
Leadership Trend: Leadership will transition from transactional to transformationalÂ
2. The Growth of Women leaders
We will continue to witness an increase in female leadership roles across industries both large and small. The positive effects of women leaders and what they can do for companies and organizations are already across the globe, however, this evolution will happen even faster. Though women have stepped up their game in the past decade, despite significant progress, the percentage of women in senior management roles across the globe grew to 32% in 2022—the highest ever recorded.
However, we need to see more women in leadership positions. It’s not just good for women but equally good for business. Women bring in valuable consumer insights, likewise as compared to their male counterparts they score higher in soft skills, emotional intelligence, empathy, and teamwork which is a must for business leadership.
The other leadership trend that will be seen in 2024 is women make the moves from their current roles and careers they’ve built to take on entrepreneurship and build the companies, products, cultures, teams, and workplaces they want to shape up in the world and be a part of.
Leadership Trend: An increase in Women’s leadership and entrepreneurship will be seen across sectors.
3. Learning Agile LeadershipÂ
Increasingly we will see greater leadership success for those who believe in building a learning agile work culture where the development and growth of their workforce are integral to the growth of the organization. As per many reports, around 50% of people say that they want a manager who encourages significant growth, and when you adopt this style, you’ll quickly become one of those highly-desired leaders.Â
By providing opportunities for learning and growth, leaders can help their team members grow professionally while also fostering a sense of fulfillment and accomplishment. These leaders will not only witness an increase in employee engagement and the capabilities of your team, but it will also enhance leaders’ careers. Not forgetting the fact that it’s essential for even leaders to make time for self-improvement so that they can lead by example. Â
Leadership Trend: Building Learning Agility will be key for leadership to accelerate business success.
4. Leadership will be more Consultative and Collaborative
The demand for Consultative and Collaborative Leadership is expected to surge with an increase in a diverse workforce. The world is becoming more diverse as countries across continents are welcoming people from different cultures, races, religions, and genders. Diversity is not just about gender or race anymore — it’s about age, education level, background, and more. This means that leaders will have to adapt to being more inclusive and supportive of diversity at all levels within their organizations. To achieve leadership success in this new diverse world, leaders would be required to embrace diversity by promoting inclusion and collaboration across all levels of their organizations.
This can only be achieved by creating a culture that celebrates differences and recognizes that everyone has different perspectives on life experiences. Here is where Consultative and Collaborative leadership can come into play. It involves seeking input and feedback from co-workers before making decisions. It focuses on team building and harnessing the skills of the team to plan and deliver. In this approach, leaders will be required to don the role of Mentors who empower their teams to innovate, share, grow, and in turn positively influence them to perform at their maximum potential.
In 2024 and beyond, companies would require leaders who believe in recognizing and respecting diversity and inclusion to get a more accurate understanding of the people they hope to influence and be equipped to make better leadership decisions.
Leadership Trend: Leadership will entail recognizing and respecting diversity to make better decisions.
Final Thoughts
All in all, by 2023 will see the emergence of more effective leaders who are driven to bring in transformation by adopting a collaborative style. Leaders will be required to be self-aware and well-equipped to manage uncertainty and ambiguity. What will set them apart is how they harness the power of people orientation, effective communication, social intelligence, as well as emotional intelligence, and mindfulness while leading business goals.
A hybrid workplace, diversity, and technology will play a vital role in bringing about these changes as it becomes increasingly important in shaping the day-to-day lives of people. In conclusion, in 2023, leaders will be successful and sustainable when they are transformational, agile, and collaborative and are invested equally in achieving success for the company and employees.
