Reflecting on both successes and challenges is a fundamental learning process for leaders. The end of the calendar year is a natural opportunity to take stock of the key lessons from over the year and embed your learnings into your strategy for the year ahead. 

So, what are the key lessons from 2024 that business leaders should be taking with them into 2025? In this article, four experts have shared their important learnings. 

Transparency is essential

According to founder and director of pay and reward consultancy 3R Strategy Rameez Kaleem, 2024 has been a pivotal year for workplace transparency and equity. “The rise of pay transparency legislation in the EU, the US, and many other countries has pushed organisations to review their pay practices proactively rather than reactively,” he says. 

There is a strong correlation between transparency and trust, Kaleem explains. “It’s encouraging that 57% of organisations communicate pay principles. Companies that have embraced open communication about pay decisions have seen higher employee engagement and retention rates. This transparency extends beyond just salary numbers – employees want to understand the ‘why’ and ‘how’ behind pay decisions.”

Kaleem adds that leaders have learned that pay equity isn’t just about compliance – it’s a fundamental driver of organisational culture and performance. Companies that view pay transparency as an opportunity rather than a challenge are better positioned to attract and retain top talent.

“Traditional secrecy around pay is no longer sustainable in an era when employees demand clarity and fairness,” Kaleem concludes. 

Adaptability is crucial 

With conflict, constant change, and unpredictability in the world, for Josefine Campbell, executive coach and author of 12 Tools for Managing a Selfish Leader, 2024 has been a year of recalibration for businesses and leaders, highlighting the importance of adaptability, authenticity, and energy management.

Leaders have been navigating rapid change, as the rise of hybrid work, economic volatility, and the focus on employee well-being demanded adaptive strategies. Campbell points out that a standout lesson has been the recognition that managing energy – not just time and resources – is critical. “Leaders and teams are more engaged and perform better when they are mentally agile and aware of their emotional states, emphasising the need for sustainable practices,” she says. 

The shift toward authenticity has reshaped leadership dynamics, moving away from traditional authoritative models to more inclusive and empathetic approaches. This also underscores the necessity of self-awareness in leadership, with tools like stress barometers and awareness matrices proving invaluable for maintaining balance and fostering healthier workplace cultures​​, Campbell sums up. 

Digital cannot be ignored 

Two years on from the explosion of ChatGPT, many leaders realised in 2024 that adapting digital is not an option, it is an urgent, transformational necessity, argues Jeremy Blain, CEO of PerformanceWorks and co-author of OpenHR. 

Despite this realisation, Blain notes that many organisations are still lagging and the number 1 reason is leadership mindset and capability to get going. “Often this increased awareness comes with an immobilisation as leaders stare at the scope and scale of the task in hand. Many simply don’t know what they don’t know and now acknowledge it,” Blain says. 

As we move into 2025, we should encourage leaders to recognise that innovation is not digital transformation. “Innovation may be to apply GenAI to a specific need or vertical. But if that isn’t horizontally adopted and implemented it becomes another ‘platform play’. Digital transformation is more holistic as it involves the whole business in securing a digital future – transforming roots, shoots, branches, and leaves – the whole business ecosphere,” Blain explains.

Involving more talent across the business at all levels to accelerate progress is key, he suggests, as one CEO / leader simply is not enough. This also ensures that culture and capabilities build at the same pace of transforming for a digital world. 

Resilience is needed to thrive 

For Beth Benatti Kennedy, leadership coach and author of ReThink Resilience, 2024 has taught leaders that resilience is not just an individual trait but an important organisational competency, one that can be developed and is needed by all employees for an organisation to thrive.

Kennedy cites the importance of emotional resilience in particular as a key lesson from 2024. “With many employees struggling from multiple stressors, they are looking for an organisational culture that acknowledges this and the diverse challenges they face whilst offering the resources they need to function at their best,” she argues. Companies that prioritise their employees’ well-being and mental health have seen higher engagement, productivity, and retention of key employees. 

Furthermore, by taking the time to understand different employees’ personality styles and give employees the resiliency skills to flex their styles, they can enhance team cohesion and bring out the best in others. Employees who understand their strengths, how to protect them, and how to use them to make an impact lead to more committed employees with a greater sense of purpose, loyalty, and motivation,” Kennedy concludes.