When the world around us is brittle and unstable, we need hope and trendsetters. The 2024 study mapped the future’s success factors as well as the goals that were meaningful to the executives at an individual, organizational, and societal level. More than 230 executives voluntarily participated in the study, and as a special detail, many of them were CEOs. There were participants mostly from Finland, other European countries, as well as from the United States. What were the five main findings?
1. The leaders are tired of geopolitical instability
Nearly 90% of the respondents hope for peace and geopolitical security in Ukraine and elsewhere in the world. Leadears’ hope for peace and security, which would also bring stability and predictability to the business. A minority of the respondents named economic growth
or mitigation of climate change as the most positive surprise in 2024.
2. More flexibility is wanted
As in our previous studies, executives wish for more flexibility in working life. At the macro level, this is related to local agreement and reducing the power of trade unions. On a micro level, the wishes are focused on the porosity of the working career and the possibilities of influencing the ways working.
3. The success of organizations could be better
Executives clearly estimate their own performance as higher than that of the rest of the organization (p=0.001). The economic cycles of the industries were present when evaluating the performance of the own organization. In addition, the challenges with strategy and finance were more common than in the earlier studies in 2020 and 2022. However, the answers did not convey pessimism, but rather recognition of pain points and solution-oriented determination.
4. The success is in one’s own hands
55% of the leaders evaluate their current situation as one where both the organization and the personnel are successful.
There is a slight increase in the answers because, in the previous survey the percentage was 47 percent. As critical success factors for the future were seen the implementation of management in accordance with the company strategy and values, productive internal cooperation, and ensuring competent personnel resources.
5. Let’s improve leadership and the prevalent working culture
There are wishes for improvements in the quality of management and the prevalent working culture. Both are seen as success factors for one’s own organization and as factors improving the working life more broadly. In daily operational management, 31 percent of executives yearn solutions especially for leadership and work culture.
Although “good leadership” was not asked to be defined in more in detail in our survey, the answers supported the themes of humane management, individual reverence, care, and performance management more than trendy leadership themes.
Closing words
We want to thank all the participants for their time concerning these important issues. We hope that this report and its empowering messages will inspire and help you to achieve your organizational and personal goals. You can reach your dreams by making them visible.
Download the original research report and the conclusions
www.freialife.com/en/materials
Authors
Päivi Frantsi, PhD (Economics and Business Administration), Myth Shatterer paivi.frantsi@freialife.com
Päivi is an experienced and enthusiastic trainer for people and work communities, and she relates to the challenges of humane life with curiosity. She knows how to use her professional expertise in supporting communities and individuals to succeed and reach their goals. Supporting comprehensive well-being is meaningful to Päivi, and it inspires her time after time.
Tapani Frantsi, PhD (Economics and Business Administration), Leadership Cultivator tapani.frantsi@freialife.com
Tapani is an experienced trainer of managers. He has trained people from top leaders to line managers of listed companies. He has studied self-awareness in 360-degree appraisals and defended on leadership. Tapani is a fearless reformer of working life.
Antti Äikäs – CEO at Freia Ltd, MSc, PhD candidate antti.aikas@freialife.com
Antti is an interdisciplinary developer of working life and an effectiveness expert. He’s an expert in planning and managing programs that improve work ability and health, and in evaluating their effectiveness. During his career, Antti has helped company managers of various branches in connecting personnel development to their company strategy and key figures.
Freia in brief
Freia Ltd is a Finnish management consulting company established 2020. We help corporate leaders in the areas of leadership development, work ability management and worksite health promotion with business in mind.
References
- Frantsi T, Ojakangas V, Äikäs A. 2020. Executives’ DREAMS –research report. Freia Ltd. Lahti. Finland.
- Freia Ltd. 2021. The New Normal or the New Now? From Strategy to Shared Success -webinar.
- Helsingin Sanomat 9.2.2022 Leadership appendix (available only in Finnish)
- James Kouzes & Barry Posner. 2017. The Leadership Challenge: How to Make Extraordinary Things Happen in Organizations.
- Microsoft survey. 2021. The next great disruption is hybrid work. Work Trend Index Annual Report.
- Ojakangas V, Frantsi T, Äikäs A. 2022. Executives’ DREAMS –research report. Freia Ltd. Lahti. Finland. Download report
- Simon Sinek. 2009. Start with Why: How Great Leaders Inspire Everyone to Take Action.