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Dear colleagues and friends,

If there’s one thing we’ve learnt in the last 2 years, is that we can’t predict the future. Our world is now defined by its volatility, uncertainty, complexity, and ambiguity (commonly known as VUCA world), generating new and growing challenges for leaders. 

The pandemic has exposed pre-existing weaknesses in systems within private and public organisations. When those systems are subjected to stressors from a crisis, those weaknesses will rise to the surface, igniting major change.

Therefore, our first 2022 newsletter focuses on critical changes that are redefining leadership according to recent global surveys by Korn Ferry, MIT Sloan, LinkedIn, and Gallup:

 

1. The Great Resignation may worsen

Organisational leaders are struggling to make sense of the factors driving the mass exodus that began in 2021, known as the great resignation, and are looking for ways to hold on to valued employees, which is expected to worsen in 2022. In response, companies have been increasing starting salaries, offering more long-term incentives and benefits, and paying sign-on bonuses. Further research shed light on better solutions to retain talent, as we’ll read in point 2 below.


2. Company culture needs reinvention (especially toxic ones)

A new study of 500 large, mainly for-profit companies employing 25% of the private sector in the US analysed the top predictors of attrition during the great resignation. It showed that a toxic corporate culture is 10.4 times more likely to contribute to attrition than remuneration. The leading elements found to contribute to toxic cultures and needing immediate attention were:

To equip all employees (not just top talent) with the competencies needed to create and maintain a positive, diverse, inclusive, ethical, adaptive, and collaborative corporate culture, companies will need to invest significantly more in learning & development programs.


3. Mental health and wellbeing become a business priority

Wellbeing is the ability to feel good, function well and flourish. Happier employees are generally healthier, more engaged (and hence are unlikely to leave) and maintain better work relationships. Workplace wellbeing is good for business, and good for people.

There are several work conditions and settings that impact employees’ experiences of stress. They could be either risk factors (e.g., micromanagement, workplace conflict) or protective factors (e.g., job crafting, psychological safety).

Over the last decade, Australian employees have begun reporting more mental health symptoms. To this end, the government set up the National Workplace Initiative in 2020 to create a nationally consistent approach to mentally healthy workplaces.


4. Adapt your leadership style to the hybrid workforce

Leading a hybrid team requires adaptability to change and an openness to experimentation. When members of your hybrid workforce see leaders recalibrate, adapt, and embrace the future with a flexible and collaborative mindset, they will also do the same. To achieve such changes in mindset, which can be challenging, leaders are engaging leadership and team coaches who can help them identify and overcome roadblocks to change.

Employees want flexibility in when, where, and how they work. Flexibility is the key, and many companies are offering job shares, different shifts, compressed workweeks, and other forms of flexible scheduling to ensure onsite employees can also shape work around their personal lives.


5. Sustainability and ESG firmly on the boardroom agenda

The demand for organisations to act on environmental, social and governance (ESG), and sustainability issues will grow more intense in 2022 as leaders everywhere wake up to the realisation that science and technology alone will not get them where they need to be.

The pandemic, climate, and inequality challenges of the past 2 years are unprecedented. But by building on decades of stakeholder theory, and utilising emerging governance and ESG tools, corporate leaders can provide solutions to these challenges.

If these leadership trends seem daunting, please don’t hesitate to reach out. We have helped countless leaders and their teams adapt to a relentless VUCA world. We can help you make sense of it and be your thinking partner in finding the solutions that work best for you and your team. In the meantime, we hope you enjoy our new article on emotional intelligence and leadership.

Warmest,
Ruby

Emotional Intelligence: The Key to Exceptional Leadership
Emotional intelligence (EI) is the capability of individuals to recognise their own emotions and those of others, discern between different feelings and label them appropriately, use emotional information to...

Reimagining Leadership Now and How to Achieve It
Our new reality, the 4th Industrial Revolution, calls for different, evidence-based approaches to developing leaders. The transformation and wellbeing of individuals, organisations, communities, and the world...

Leadership Benefits from Practising Mindfulness
Mindfulness helps in the development of several crucial skills for human peak performance such as self-awareness, self-reflection, self-regulation, positive relationships, competence, and physical/mental health...

How to Develop Self-Knowledge and Why it Matters
Most people believe they are self-aware, however only 10% to 15% truly are. This is not at all surprising since most leaders are promoted due to their excellent technical skills, not for their ability to understand their own emotions and thoughts...

Self-Care Resolutions Worth Repeating in 2022
We put together a list of resolutions worth the effort in the new year and beyond, inspired by the latest research on the science of wellbeing, high performance, and happiness. Together with self-leadership practices suggested in this newsletter, you’ll be sure to flourish...
Scientists In Every Boardroom
This eye-opening book is for all organisational leaders seeking to reimagine leadership. You’ll be shown the why and how to lead rationally whilst cultivating emotional intelligence, maximising innovation, engagement, profitability, wellbeing and growth for all stakeholders.
Dr Ruby Campbell
Founder and Managing Director
Level 9, 123 Epping Road, Macquarie Park,
NSW, 2113 Australia
ProVeritas Group acknowledges and pays respect to the past, present and future Traditional Custodians and Elders of this nation and the continuation of cultural, spiritual, and educational practices of Aboriginal and Torres Strait Islander peoples.

Proveritas Group | Copyright © 2022 All rights reserved.
Call +61 2 8875 7868 | info@proveritas.com.au


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