Last year and the year before were characterized by uncertainty and fear. This year, however, the situation is expected to improve as geopolitical tensions are expected to ease, and the pandemic is over. As organizations look to sustain or even increase their growth in 2022, they need to identify the areas of focus they can take advantage of to get the most out of their resources. This article features five experts' suggestions on how leaders can respond to emerging trends and key areas of concern. Adopt a future-focused strategy The pandemic has brought various technological, economic, and social changes to businesses. Some of these include the rise of hybrid working, increased use of artificial intelligence, and increased interest in the metaverse. In addition, the increasing number of people interested in learning more about diversity and inclusion has also raised awareness about sustainability. According to Matt Spry, a strategy consultant at Emergent, the changes brought about by the pandemic have created a compelling opportunity for organizations to update their strategy. To ensure that their organizations are prepared for the future, Spry suggests that leaders establish an environment where people from different parts of the organization can gather and share knowledge and insights. This will allow them to identify potential changes that could affect their operations. Leaders should also explore various scenarios that could affect their operations as a team. This will allow them to develop a strategy and a plan to respond to the changes. Before starting a project, Spry suggests that leaders first gather information about their company's current and potential future operations. Then, they can begin to design small-scale experiments to test their hypotheses. Implement pay transparency Despite the various initiatives that have been made to address the issue of gender pay inequality, it still doesn't look like the situation will get better anytime soon. In 2021, it was reported that the UK's gender pay gap had worsened. This issue is also unsustainable due to the increasing number of people leaving their jobs and employers' competition for talent. According to Paulina Tenner, a business leader, the solution to the gender pay gap can be found in implementing transparent pay policies. This will allow employees to know what their colleagues earn. Unfortunately, many organizations won't be able to implement this step. In order to make the changes happen, Tenner suggests that leaders regularly review the pay policies of their companies. She also suggests they establish salary targets for themselves and encourage team members to research their worth in the market. In addition, she suggests that leaders create a set of career paths that will help employees develop their skills and meet their salary expectations.
Coach the whole individual Today's workers no longer have the opportunity to separate their personal lives from their professional lives. According to Tess Cope, author of Harness, leaders should consider how their approach to coaching can reflect the changing nature of their workforce. Despite the various changes brought about by the pandemic, the way leaders interact with their team members has not changed. In 2022, Cope suggests that leaders focus on systemic coaching, which involves taking into account the various aspects of an individual's life, such as their family life and school. According to her, honoring a person's history can help them move past their current reality and develop new strategies to improve their lives. Make effective use of carbon budgets According to Richard Busellato, the importance of preserving the planet's carbon capacity outweighs the need for constant returns on investment. He suggests that organizations focus on how they use their carbon budget. He also claims that a business model cannot be based on volume sales growth. It must instead be focused on the continuous use of resources. No process is ever completely clean, and it is vital that organizations do not get carried away by the additions of solar panels or recycling. Embrace financial digitalization The pandemic highlighted the importance of digital documentation. This year, leaders should continue to improve their financial digitalization efforts and upload all of their company's financial documents to the cloud. This will allow them to keep track of their financial activities and improve the efficiency of their organizations. According to Oumesh Sauba, a chartered management accountant, many leaders still don't realize how many finance technology tools are available. He claims that it is surprising how many leaders still don't take advantage of these tools. Innovation is key to surviving the post-pandemic period, as it can help organizations reduce costs and improve efficiency. According to Sauba, AI-driven systems can automate various processes, allowing them to redeploy their resources into more productive tasks.