2022 was a year of shocks: from the outbreak of war in Europe to spiralling energy costs, heightened inflation and the threat of recessions across the globe. Little wonder then that some people might have rung in 2023 with a degree of trepidation. So, what does 2023 have in store and what will it mean for employers and employees? Lynda Gratton, Professor of Management Practice in Organisational Behaviour at London Business School (LBS), shares her thoughts with The Times and Fast Company.
Writing in her January 2023 column for The Times, Lynda shares the views of a number of her LBS colleagues who predict that businesses will face challenging times, with employees seeking pay increases to combat “a financial backdrop of high interest rates and inflation that few have experienced”. With strategic investment required to counter the end of almost 30 years of free money, the advice is to “identify opportunities and have the courage to pursue the possibilities that present themselves.”
On a more personal level, she shares the advice of colleague Herminia Ibarra, which is to “consider what you have done differently in 2022, perhaps new projects you have tried and new people you have connected to. Then choose one thing you have learnt that you can commit yourself to putting into action this year.”
Lynda has also outlined her views on what leaders need to focus on in 2023 in an article for Fast Company. She cites the value that older workers can bring and believes that “This is a year to bring the generations together to support each other, to invest in upskilling, and to strive to create more flexible ways of working. It’s a year to build resilience in healthy and engaged employees, and in organizational practices that support people to exercise the autonomy they need to make the most of this coming year.”