Global Leadership Monitor Fall 2023 - Russell Reynolds Associate

Global Leadership Monitor H1 2025

A bi-annual global survey of over 3,000 leaders
Emerging threat
36% of leaders rated policy uncertainty
as a top five threat—it’s highest ever ranking
Highest ranked threats
Geopolitical and policy uncertainty
collide with economic concerns
NOTABLE DROP IN LEADERSHIP PREPAREDNESS
19 percentage point drop in leaders’ preparedness
to face geopolitical uncertainty since H1 2021

Global Leadership Monitor H1 2025

Learn how these findings impact your organization.
% of leaders ranking each item as a top five issue impacting organizational health in the next 12-18 months

Uncertain economic growth

63%

Technological change

52%

Availability of key talent/skills

48%

Geopolitical uncertainty

45%

Policy uncertainty

36%

Changes in consumer behavior

33%

Increased regulation

30%

Workforce transformation

29%

Cyber threats

23%

Trade conflicts

23%

Economic uncertainty remains the highest ranked threat to organizational health, with 63% of executives selecting it as a top concern in the next 12-18 months. Tech change, driven by AI advancements, climbed to second place with 52% of leaders recognizing its impact.

Talent availability concerns have decreased to 48%, reaching its lowest level since 2021. Geopolitical uncertainty has surged to critical importance, now viewed as a top threat by 45% of leaders.

Policy uncertainty also climbs into the top five threats for the first time, with 36% of global leaders identifying it as a top impact on future organizational health.
% of leaders ranking each item as a top five issue impacting organizational health in the next 12-18 months

Protectionism

21%

Commodity price volatility

19%

Reputational damage

15%

Climate change and environmental damage

14%

Populism in politics

12%

Taxation

10%

Exchange rate volatility

10%

Investor activism

6%

Inclusion and culture

5%

Rising wealth inequality

5%

Economic uncertainty remains the highest ranked threat to organizational health, with 63% of executives selecting it as a top concern in the next 12-18 months. Tech change, driven by AI advancements, climbed to second place with 52% of leaders recognizing its impact.

Talent availability concerns have decreased to 48%, reaching its lowest level since 2021. Geopolitical uncertainty has surged to critical importance, now viewed as a top threat by 45% of leaders.

Policy uncertainty also climbs into the top five threats for the first time, with 36% of global leaders identifying it as a top impact on future organizational health.
% of leaders ranking each item as a top five issue impacting organizational health in the next 12-18 months

Select External Threat


Uncertain economic growth Availability of key talent Tech change Increased regulation Workforce transformation Changes in consumer behavior Geopolitical uncertainty Cyber threats Policy uncertainty Commodity price volatility Reputational damage Climate/environmental change Exchange rate volatility Trade conflicts Investor activism Inclusion and culture Taxation Rising wealth inequality Protectionism Populism
Economic uncertainty and tech change have consistently ranked as top threats, with economic concerns intensifying significantly in recent months. Talent availability, while still a concern, has seen a decline in priority as leadership shifts focus to other urgent threats.

Geopolitical uncertainty has almost doubled in perceived threat since 2021. Policy uncertainty, after a steady pace of around a third of leaders selecting it as a top threat, has climbed 8 percentage points in the past six months.
% of leaders selecting threats as a top 5 issue vs % of leaders reporting their leadership team is prepared or very prepared

EXTERNAL THREATS

TOP EXTERNAL THREATS

L6M*

% PREPARED OR VERY PREPARED

L6M*

1. Uncertain economic growth

63%

+4%

40%

-1%

2. Technological change

52%

-2%

48%

+1%

3. Availability of key talent

48%

-9%

43%

+3%

4. Geopolitical uncertainty

45%

+8%

28%

-4%

5. Policy uncertainty

36%

+8%

34%

-5%

6. Changes in consumer behavior

33%

-2%

47%

-

7. Increased regulation

30%

-9%

57%

+2%

8. Workforce transformation

29%

-13%

39%

+1%

9. Cyber threats

23%

-6%

75%

+2%

10.

Trade conflicts

23%

+12%

35%

-2%

Leadership preparedness to address economic uncertainty has fallen to its lowest level since 2021, with only 40% feeling equipped to handle this threat. Tech change preparedness remains low at 48%, with leaders citing a slow-closing skills gap in AI implementation.

Preparedness to address the availability of key talent remains relatively low, with only 43% of leaders feeling ready to tackle this challenge. Preparedness to face geopolitical uncertainty remains a concern, with just 28% of leaders feeling confident in navigating the complex global political landscape. Confidence in handling policy uncertainty is also on the decline, despite its increasing threat level for leaders.
% of leaders selecting threats as top 5 issue vs % of leaders reporting leadership team is prepared or very prepared

EXTERNAL THREATS

TOP EXTERNAL THREATS

L6M*

% PREPARED OR VERY PREPARED

L6M*

11.

Protectionism

21%

+12%

30%

-8%

12. Commodity price volatility

19%

-2%

53%

-3%

13.

Reputational damage

15%

-

61%

+6%

14.

Climate/Environmental change

14%

-4%

57%

-1%

15.

Populism in politics

12%

+1%

19%

-6%

16.

Taxation

10%

+1%

47%

+3%

17.

Exchange rate volatility

10%

+2%

48%

-7%

18.

Investor activism

6%

-1%

50%

+1%

19.

Inclusion and culture

5%

-2%

66%

+2%

20.

Rising wealth inequality

5%

-

33%

+2%

Leadership preparedness to address economic uncertainty has fallen to its lowest level since 2021, with only 40% feeling equipped to handle this threat. Tech change preparedness remains low at 48%, with leaders citing a slow-closing skills gap in AI implementation.

Preparedness to address the availability of key talent remains relatively low, with only 43% of leaders feeling ready to tackle this challenge. Preparedness to face geopolitical uncertainty remains a concern, with just 28% of leaders feeling confident in navigating the complex global political landscape. Confidence in handling policy uncertainty is also on the decline, despite its increasing threat level for leaders.
% leaders reporting leadership team is prepared or very prepared to address external threat

Select External Threat


Uncertain economic growth Availability of key talent Tech change Increased regulation Workforce transformation Changes in consumer behavior Geopolitical uncertainty Cyber threats Policy uncertainty Commodity price volatility Reputational damage Climate/environmental change Exchange rate volatility Trade conflicts Investor activism Inclusion and culture Taxation Rising wealth inequality Protectionism Populism
Leadership preparedness to address uncertain economic growth has decreased to 40%—the lowest level since 2021. Preparedness to address tech change has been steady for the past six months, from 47% of leaders feeling prepared in H2 2024 to 48% in H1 2025.

The availability of key talent preparedness is showing some recovery, increasing from 39% in H1 2024 to 43% in H1 2025, yet it still remains below the 2021-2023 levels. Preparedness to face geopolitical uncertainty has decreased over time, with less than one third of leaders feeling ready to tackle this issue—its lowest level yet.

Policy uncertainty preparedness has similarly declined to its lowest level yet, with 34% of leaders feeling equipped to address this growing concern.

 

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How are leaders navigating geopolitical and economic shifts?

After a historic year of worldwide political elections and economic shifts, leaders' priorities are rapidly evolving to meet new market demands. We surveyed over 3,000 global board directors, CEOs, C-suite leaders, and next-generation leaders to understand the top external threats they face and their preparedness to tackle them. Here’s what we learned.

 

quote

Our latest Global Leadership Monitor represents a significant reshuffling in threat rankings, which reflects increasing economic concerns, shifts in geopolitics, and rising trade issues. Confidence in leadership will continue to be tested as market volatility is stretching organizational resilience. This report highlights an urgent need for decisive leadership to counterbalance these conditions."

Constantine Alexandrakis
President & CEO, Russell Reynolds Associates

 

 

 

01 Economic uncertainty dominates the leadership landscape

The challenge of global economic instability continues to loom large over organizational leaders, with 63% identifying uncertain economic growth as a top threat to organizational health in the next 12-18 months.

 

The level of concern has intensified in the past six months. With trade tensions building and policy changes on the horizon when we surveyed leaders in March 2025, it’s unsurprising that more leaders have considered economic uncertainty a top five concern.

 

Despite this growing threat, leadership preparedness to face this threat has decreased to 40%—the lowest level of preparedness for this threat since we began tracking the data in 2021.

 

Related economic concerns have also gained prominence, with policy uncertainty surging from ninth to fifth place in just six months (28% to 36%), while trade conflicts have entered the top ten threats for the first time. Regional variations are also notable, with leaders in the Americas expressing significantly higher concern over policy uncertainty (47%) compared to the global average.

 

The widening gap between economic uncertainty and the second-ranked factor, technological change, further underscores the escalating concern over economic fluctuations.

 

 

 

02 Geopolitical uncertainty surges to critical importance

Geopolitical uncertainty has experienced a dramatic rise in its threat to organizational health since we began tracking in 2021, nearly doubling from 24% to 45% of leaders identifying it as a top five threat. This surge reflects the increasingly complex and volatile global political landscape that organizations must navigate.

 

Regional perspectives reveal significant differences, with European leaders substantially more concerned (53%) about geopolitical uncertainty than their American counterparts (35%). This 18-percentage-point difference highlights how regional context shapes leadership priorities and risk assessments.

 

 

 

03 Technology change ascends organizational threat list with AI at the forefront

Technology change climbed from third to second position among top organizational threats over the past six months, with 52% of leaders now viewing tech disruption as a top five threat to organizational health. This rise in threat level underscores the accelerating pace of AI and its profound implications for business models and strategies.

 

While leadership preparedness to face tech change remains relatively low at 48%, leaders report higher confidence in addressing specific operational concerns like cybersecurity.

 

When asked about their views on AI in this same survey, 82% of leaders reported believing that a strong AI understanding will be mandatory for future C-suite executives. However, only 41% feel confident in their personal ability to implement AI within their organizations, revealing a critical leadership skills gap that must be addressed.

 

 

 

04 Talent concerns recede as leaders refocus priorities

Talent availability concerns have experienced a notable decline, dropping from second to third position among top threats and decreasing by nearly 10 percentage points in the past six months (57% to 48%)—reaching their lowest level since 2021. This represents a 23-percentage-point decrease from its peak of 71% two years ago.

 

This shift may indicate improving talent acquisition strategies, labor market adjustments, or simply leadership attention being diverted to more urgent challenges. Via conversations with leaders globally, we’ve heard that this drop isn’t due to a deprioritization—rather, it’s that there are so many other pressing issues that leaders need to apply more focus elsewhere. Regional variations persist, with Asia leaders expressing the highest concern about talent availability (56%) compared to leaders in the Americas (46%).

 

Leaders noted a similar decline in workforce transformation concerns, which fell four places in the rankings over six months (from 42% to 29%).

 

 

 

05 Top threat interconnectedness increases complexity

The volatility and complexity that organizations must contend with today means the value of good leadership is only going up. Yet leadership teams are, understandably, feeling continually less prepared to face the multi-layered issues in front of them.

 

These disruptive forces—be they geopolitical, economic, or technological—are driving a set of shifts beneath the surface that are fundamentally changing the nature of leadership (and often making leaders’ efforts feel futile).

 

Leadership preparedness to address economic uncertainty continues to fall

Source: Russell Reynolds Associates 2025

 

However, the current uncertain and tumultuous environment requires leaders to act—and act decisively. Through their actions, they set an example for everyone in the organization and stand as the difference between thriving in uncertainty or suffering irreparable damage.

 

Indeed, turbulent environments often increase the distance between winners and losers in competitive markets. Those that outpace the competition are often defined by the effectiveness of their leadership team. As the speed of change continues to accelerate, succeeding in the unknown future will require a resilient and adaptable enterprise leadership approach.

 

 

Explore the data in your region, industry, and role

Did you know that policy uncertainty is more of a concern for leaders in the Americas than other regions? Or that geopolitical uncertainty is more of a concern for European leaders than other parts of the world?

 

Find out what the top threats are for your industry, region, and role—and leaders’ preparedness to face them

Download data

What is the Global Leadership Monitor?

The Global Leadership Monitor Russell Reynolds Associates’ bi-annual survey of global business leaders, tracking key threats to organizational health and leaders’ preparedness to face them.

What are global business leaders most concerned about in 2025?

In our H1 2025 survey of more than 3,000 leaders globally, senior business leaders cited the following top threats to organizational health in the next 12-18 months:

Are global business leaders prepared for economic uncertainty in 2025?

Our research shows that senior leaders' preparedness to address uncertain economic growth has been steadily declining since the beginning of 2023, from 58% of leaders feeling prepared to address it in H1 2023 to 40% in H1 2025.

Are global business leaders prepared for AI and tech disruption in 2025?

Concerns over technological change have been on the rise since H2 2022, rising from 32% of leaders reporting it as a top concern to 52% in H1 2025. Leadership preparedness to face this threat dropped by 6 percentage points in the past year, from 54% of leaders feeling ready to address this threat at the beginning of 2024 to 48% in H1 2025.

Are global business leaders prepared for talent and skills gaps in 2025?

Since the beginning of 2022, less than half of senior leaders have felt prepared to address the availability of key talent and skills. However, preparedness has been steadily increasing in the past year, from 39% feeling prepared to address the threat in H1 2024 to 43% in H1 2025.

Are global business leaders prepared for geopolitical uncertainty in 2025?

Geopolitical uncertainty has climbed the leadership agenda, with 45% of global leaders reporting it as a top concern in H1 2025, up 8 percentage points in the last six months.

Despite fluctuations in its ranking as a top threat, preparedness has consistently remained low, with around one-third of leaders feeling equipped to address it over the years. Preparedness dipped to 28% in H1 2025.

Are global business leaders prepared for policy uncertainty in 2025?

In H1 2025, 36% of leaders ranked policy uncertainty as a top five threat to organizational health, rising from 28% six months ago. Leaders are feeling significantly less prepared to face this threat, with only 34% of leaders feeling prepared in H1 2025, a decrease of 5 percentage points in the last six months.

 

How our leadership advisors can help


Our leadership advisors are experts in building teams of transformational leaders who can help you look toward the future with confidence.


We’re well-versed in guiding organizations through change. If your leaders are concerned about weathering economic uncertainty, navigating technological change, or looking for guidance on how to engage and retain your leadership team, our advisors are here to help.


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About Global Leadership Monitor


The Global Leadership Monitor is a global survey of boards, CEOs, CxOs, and next-generation leaders that tracks key threats to organizational health and leadership preparedness to face them.


Methodology

 

About the Authors and the CLI team


Tom Handcock, Beth Hawley, and Gabrielle Lieberman  of RRA’s Center for Leadership Insight conducted the research and authored this report.

 

The authors wish to thank the 3,000+ leaders from RRA’s global network who completed the 2025 Global Leadership Monitor. Their responses to the survey have contributed greatly to our understanding of leadership in 2025 and beyond.

 

Learn more about the team

 

 

 

Global Leadership Monitor

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