The past 12 months have been an eventful period, with arguably the most significant event being the re-election of Donald Trump as U.S. president. So, what are they leadership lessons that we can take away from 2024?
1. Business is only going to get more complicated
The political, social and economic events of 2024 have further complicated what was already a very complex operating environment for businesses. Geopolitical tensions seem even more heightened, new governments have been elected, economic growth remains sluggish and it is not entirely clear what will happen next in the world. So, in 2025, leaders should probably prepare for an even more complex operating environment still – by hoping for the best and planning for the worst.
One way they can do this is by drawing on the insights and networks of their boards. “Unlike executives, board members focus don’t focus on daily operations,” says Didier Cossin, professor of governance at IMD Business School in Switzerland and author of High Performance Boards: A Practical Guide to Improving and Energizing Your Governance. “They focus on strategic adjustments that align with risk, and on fostering resilience in unpredictable environments. Their role emphasizes values-driven governance, integrity, and adaptability, which are crucial in minimizing downside risks, as well as maximizing upside opportunities.”
2. Over-simplified messaging can undermine trust and stoke division
“We’ve seen over-simplified messages used in politics the world over this year, with more leaders playing to their base,” says Nik Kinley, a leadership consultant, assessor and author of Rewriting Your Leadership Code. “In business, too, this same trend is there. In a world of ever-increasing media scrutiny, TikTok moments, and cancel culture, last decade’s call for authenticity has given way to a generation of leaders who need to more tightly control what gets said and heard.”
Leaders need to understand that in the choices they make and the things they say, they can increase belief or decrease trust, according to Kinley. “They can improve the flow of information or make concerns harder to voice,” he explains. “Remember that being clear doesn’t mean you have to be simple, and that what you can do for organizations may get you appointed, but what you do to them is what determines if you stay in power.”
3. The world is becoming more inclusive
The Olympic Games in Paris was significant for being the first-ever Olympic Games to achieve full gender parity. This was due to the International Olympic Committee distributing an equal number of places to male and female athletes.
“Of course, there is still work to be done,” says Gaia van der Esch, an executive, policy expert and author of Leading Our Way: How Women are Re-Defining Leadership. “Sponsorships are unevenly split between male and female athletes, the referees and coaches are mostly male and managerial positions in the sports world are primarily held by men. Nevertheless, these Olympic Games represented a symbolic step forward for the sports world and beyond.”
Van der Esch believes there are two key takeaways from this historic achievement: “First, when there is a will there is a way. Top executives at the International Olympic Committee and the French National Olympic Committee were profoundly committed to diversity and athletes demanded it. Second if we hope to build a fairer world, we must start by choosing leaders who are guided by values and capable of delivering change while shaping new leadership models to follow.”
4. There’s an opportunity to show real leadership on sustainability
“One the notable trends of 2024 has been growing skepticism around environmental, social and governance (ESG) issues, with many political leaders actively stepping back from climate commitments,” says Knut Haanaes, professor of strategy at IMD Business School and co-editor of Leading The Sustainable Business Transformation. “But that doesn’t mean leaders should deprioritize their sustainability efforts. In fact, it presents an opportunity to show real leadership on this issue.”
Haanaes suggests that leaders try to engage in reframing. “Climate action isn’t just about doing the right thing,” he says. “It’s about smart and future-ready business. Help your stakeholders understand how renewables lower costs, green products open new markets and circular practices increase resilience.”
When it comes to persuading other people, inspiration beats fear, according to Haanaes. “People may wake up due to climate anxiety, but will only commit and act once inspired,” he says. “Don’t let others’ inaction stall progress. Make it clear that leading on climate is an opportunity to innovate, adapt, and succeed while others hesitate.”
Leaders who don’t make sustainability a top priority risk losing the engagement of employees, warns Marilyn Waite, author of Sustainability at Work: Careers That Make a Difference. “2024 looks set to be the world’s warmest year on record,” she says. “Climate-related weather events, like flash flooding in Spain and wildfires across California, are increasing the awareness of sustainability among employees, driving a trend toward ‘conscious quitting’ in which a lack of effort by employers to tackle environment and societal challenges causes employees to resign.”
One study, by sustainability influencer Paul Polman, found that a third of respondents had resigned from their jobs because they were disappointed by their organization’s efforts to tackle social and environmental challenges.
5. A “speak up” culture can prevent devastating failures
A congressional investigation into the safety culture of U.S. aircraft manufacturer Boeing highlighted the importance of enabling employees to speak up. Boeing has been under scrutiny after two of its 737 Max aircraft crashed in 2018 and 2019 and part of the body of another 737 Max aircraft broke off after take-off in January. Giving evidence at a hearing, a whistleblower said he was harassed and threatened after raising concerns about the safety of the company’s planes.
A strong “speak-up” culture goes beyond simply implementing robust reporting systems, according to Sabrina Bushe, client engagement director at organizational ethics advisory firm Principia. “It requires leadership to actively cultivate an environment where employees are encouraged to challenge each other, share divergent opinions, and feel safe to raise concerns, whether they involve minor infractions or major risks,” she says. “This process must start at the top, with leaders visibly encouraging and celebrating challenge and dissent. In doing so, organizations are best equipped to catch problems early – before they escalate into full-blown crises.”
6. Business isn’t always a game of Happy Families
The Murdoch family’s lengthy legal battle over the future of its media empire has highlighted the complexities involved with balancing family and business dynamics. “Transparency and fairness are crucial to maintain harmony in the family, especially in the case of complex family structures,” says Alfredo De Massis, co-author of The Family Business Book: A roadmap for entrepreneurial families to prosper across generations. “Open communication and planning are paramount for any leaders managing generational transitions.”