The End of the New Normal

As the World Economic Forum event concluded in Davos, the world was -- and still is -- in a state of turmoil. The leaders who gathered, spanning public and private sectors, non-profit organizations, along with a strong representation of thought leaders, are facing challenges that cannot be solved by one person, one organization, or one country. 

One of the challenges being discussed is the increasingly turbulent work environment, and the workforce expectations accelerating the need for change.

The pressure is coming from both sides of the workforce. As the pandemic became a catalyst for dramatic global demand shifts -- leaving companies rushing to respond to changing supply availability, regulations and requirements -- another storm was brewing. Workers were facing equally chaotic environments at home. School closings, sequestration, illness, and business disruptions left workers racing to stay ahead of abrupt changes in their lives and in the lives of their family members. For many, this became the breaking point, and so began the Great Resignation.

We are in a time that demands we take a fresh look at what is important. The expression, “the new normal,” assumes that things will become steady and predictable once more. On the other hand, the “New Learning Economy” reveals the underlying truth – that we must continue to adapt and learn to stay ahead of the constant pace of change. Those who sit and wait for the new normal to appear will be left behind. 

We know with certainty that change will continue. At the World Economic Forum last week, Saadia Zahidi, WEF, Bob Moritz, PWC, and Jonas Prising, Manpower Group, shared findings from a comprehensive workforce research study. The study revealed one in five workers are likely or very likely to leave their organizations this year. The reasons why are important to consider. The study confirmed workers are not disengaged from their desire to produce results – in fact, quite the opposite. They want to be involved in contributing to meaningful results, meaningful to the organization’s mission and their own individual contribution to society. They want an environment where they can feel safe to discuss what is important to them and where they are encouraged to express themselves and contribute in an authentic and empowered way.

For many organizations, this will require a fairly significant shift in how the employee experience is currently being managed. Leaders who have been brought up through the ranks to lead by mandate are finding themselves unprepared for this seismic shift. Even more, as many organizations have lost significant numbers of employees, remaining workers have taken on increased leadership and management responsibility, often without any type of leadership development to guide them in their new roles. This development gap is further underscored in the research conducted by ExecOnline. In our Q1 survey, for the first time, leaders reported that their learning and development is as important to their success as the resources they need. This is a significant acknowledgement of the value of L&D. 

We’re recognizing the importance of lifelong learning in the New Learning Economy – but not just to develop job-related skills. Leaders must be able to provide empathetic leadership to create safe spaces for their people to thrive, lead diverse teams where innovation and inspiration can flourish, and create transformative environments that support agility and continued growth. Achieving all of these things will help ensure a pipeline of prepared and engaged future leaders ready to fill emerging roles.

As global leaders disperse from Davos, they carry the responsibility and momentum of the important discussions that have taken place. They will know that none of the issues can be solved without bringing others along. By building a well-prepared, diverse group of future-ready leaders we can overcome today's challenges as well as tomorrow's.