Air taxi company Joby Aviation has reached an agreement to acquire the urban air mobility passenger business from Blade, the helicopter rideshare service, in a deal worth as much as $125 million.
The acquisition includes Blades brand and passenger business, which operates in the United States and Europe. The deal will give Joby access to Blades infrastructure, routes, and customers as it gears up to launch its eVTOL vehicles in the sky.
Late last year, Joby said it had entered into its final stage of the certification process with the Federal Aviation Administration (FAA), a step it said will pave the way for commercial service. In a press release on Monday, it said gaining control of Blade’s infrastructure will allow it to eventually transition passengers from traditional helicopters to Joby’s air taxis.
Shares of Joby Aviation (NYSE: JOBY) hit a record high of $20.33 in early trading on Monday. Although the air taxi space is still considered speculative, the stock up more than 152% year to date.
Blade Air Mobility (NASDAQ: BLDE) saw its stock price rise around 29% on Monday’s news.
“This is a strategically important acquisition that will support the successful launch of Jobys commercial operations in Dubai, our subsequent global rollout and our continued leadership in the sector,” JoeBen Bevirt, Joby’s founder and CEO, said in a statement.
As part of the deal, Joy will gain Blades network of 12 terminals, including a dedicated lounge and terminal bases at John F. Kennedy International Airport (JFK) and Newark Liberty Airport (EWR), as well spots on Manhattan’s east and west sides and near Wall Street in Lower Manhattan
Blades medical division will rebrand as Strata
Blade plans to focus its efforts on its medical services and logistics business, which were not included in Joby’s acquisition.
Blades medical division will remain a separate public company and be renamed as Strata Critical Medical (Strata). Joby will become the preferred eVTOL partner to Blades organ transport business, and Strata will gain access to Jobys vehicles.
The deal is expected to close in the coming weeks. A new ticker for Strata will be announced at a later date.
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Builders FirstSource, the largest U.S. supplier of building materials and prefabricated components, is valued at $14 billion. Given that it takes orders and makes deliveries to builders across the nation, few firms have a more comprehensive view of both multifamily and single-family construction.
Thats why its notable that Builders FirstSource CEO Peter Jackson went out of his way on Thursday to suggest to Wall Street analysts that commentary coming from giant publicly traded homebuilders this earnings season was underplaying softening and softness in residential construction.
There were a lot of public homebuilders that have released [earnings] over the past couple of weeks [that reported relatively more positive pictures], versus kind of our signal here that it’s a bit worse than what people are thinking, Jackson told analysts on the company’s July 31 earnings call.
Jackson added: Given the inventory environment and what we’re seeing in terms of the land market, what we’re hearing about the takedowns and the contracts, our sense is builders are slowing on the start side . . . Our sense is that slowing, that resetting to a lower [housing starts] rate in order to manage those completed home inventory levels, that’s what’s going to flow through. So that’s the slowing indication that you’ve got from us.
This weaker housing demand environment is causing unsold completed inventoryin particular, in the Sun Beltto tick up.
Indeed, since the Pandemic Housing Boom fizzled out, the number of unsold, completed U.S. new single-family homes has been rising:
June 2018 > 62,000
June 2019 > 79,000
June 2020 > 66,000
June 2021 > 34,000
June 2022 > 38,000
June 2023 > 69,000
June 2024 > 99,000
June 2025 > 119,000
The June figure (119,000 unsold, completed new homes) published this week is the highest level since July 2009 (126,000).
To put the number of unsold, completed new single-family homes into historic context, we have ResiClubs Finished Homes Supply Index (see chart above). The index is one simple calculation: the number of unsold, completed U.S. new single-family homes divided by the annualized rate of U.S. single-family housing starts.
A higher index score indicates a softer national new construction market with greater supply slack, while a lower index score signifies a tighter new construction market with less supply slack. If you look at unsold, completed single-family new builds as a share of single-family housing starts (see chart below), it still shows we’ve gained slack / single-family construction demand is softening. However, it puts us closer to pre-pandemic 2019 levels than the Great Financial Crisis bust. That said, if new construction or the economy hit a big speed bump and housing starts dropped by 20% to 30%, this ratio would spike quicklyeven if unsold builds didnt increase much.
Much of the completed unsold single-family new builds is located in pockets of the Sun Beltin states like Florida, Texas, Arizona, Colorado, and Tennessee.
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According to ResiClubs statistical analysis, there is a modest to moderate correlation between recent single-family permitting levels and active inventory rising above pre-pandemic 2019 levels.
In other words, many of the places where single-family homebuilders have the strongest presence are also the housing markets that have experienced the greatest recent softening. If you talk to homebuilders in Cleveland, Boston, or New Haven, youre likely to hear a very different story right now than from their peers in Tampa, Austin, and San Antonio.
Tesla has granted CEO Elon Musk shares worth about $29 billion, in a new pay deal aimed at keeping the billionaire entrepreneur at the helm during a crucial pivot from its struggling core auto business to robotaxis and humanoid robots.
The company described the grant of the 96 million new shares as a first step, “good faith” payment to honor Musk’s more than $50 billion pay package from 2018 that was struck down by a Delaware court last year. A longer-term CEO compensation plan will be put to a vote at its annual investor meeting on November 6.
The Delaware ruling had cited flaws in the board’s approval process and unfairness to investors. Musk kicked off an appeal against the order in March, claiming a lower court judge made multiple legal errors in rescinding the record compensation.
The world’s most valuable automaker is at a turning point, with Musk, its largest shareholder with a 13% stake, positioning it more as an AI and robotics company amid falling sales in its mainstay auto business and a slump in its share price.
The share award is designed to gradually boost Musk’s voting power, something he and shareholders have consistently insisted was key to keeping him focused on Tesla’s mission, said a special committee Tesla formed earlier this year to consider Musk’s compensation. It consists of chair Robyn Denholm and independent director Kathleen Wilson-Thompson.
“While we recognize Elon’s business ventures, interests and other potential demands on his time and attention are extensive and wide-ranging we are confident this award will incentivize Elon to remain at Tesla,” the committee said in Monday’s filing.
The new shares vest only if Musk remains in a key executive role through 2027. They also have a five-year holding period, except to cover tax payments or the purchase price of $23.34 per share, which is equal to the exercise price of the 2018 award.
If the Delaware courts fully reinstate the 2018 CEO Performance Award, the new interim grant will either be forfeited or offset and there will be no “double dip,” according to the filing with the Securities and Exchange Commission.
“This is simply a repackaged version of what was done years ago and was ruled improper by a judge,” said Charles Elson, founding director of the Weinberg Center for Corporate Governance at the University of Delaware.
“It renders the Delaware court decision effectively meaningless,” said Elson, who had filed amicus briefs supporting the Delaware Court’s decision to void Musk’s 2018 award.
AUTO BUSINESS STRUGGLES
Gary Black, a longtime Tesla investor who sold his position recently, said on X the award should be viewed “very favorably” for the company as it aligns Musk’s incentives with the shareholders and removes uncertainty about him leaving.
Tesla shares rose more than 2% in premarket trading. They have gained almost 2,000% in the past decade, far outperforming the around 200% increase in the benchmark S&P 500 index.
But the stock has come under pressure this year, losing about a quarter of its value as Tesla grapples with a sales decline wrought by its aging vehicle line-up, tough competition and Musk’s political stances that have alienated some buyers.
The challenges have been worsened by U.S. government cuts in support for EVs. Musk said at a post-earnings call last month the waning subsidies could lead to a “few rough quarters” before a wave of revenue from self-driving software and services begins late next year. Analysts expect Tesla to post another annual sales decline in 2025 after its first one last year.
S&P Global Mobility data shared exclusively with Reuters showed on Monday that Tesla’s brand loyalty had plunged since Musk endorsed U.S. President Donald Trump last summer.
The world’s most powerful person and its richest had a falling out earlier this year. And Musk has raised fears about whether he will be able to devote enough time and attention to Tesla after he locked horns with Trump by forming a new political party.
The company also faces a long regulatory road to its robotaxi bet. It started a small trial of its robotaxis in Austin, Texas, June with about a dozen Model Y SUVs.
But it lacks permits to offer the service in California, where it last week launched a ride-hailing service in the San Francisco Bay Area without indicating whether it would be using self-driving vehicles that power its Austin operations.
(Reporting by Aditya Soni in Bengaluru, additional reporting by Zaheer Kachwala and Jaspreet Singh; Editing by Anil D’Silva)
Aditya Soni, Reuters
Boeing workers who build fighter jets went on strike Monday at midnight Central Daylight Time.About 3,200 workers at Boeing facilities in St. Louis; St. Charles, Missouri; and Mascoutah, Illinois, voted to reject a modified four-year labor agreement with Boeing, the International Association of Machinists and Aerospace Workers union said Sunday.In a post on X, the union said: “3,200 highly-skilled IAM Union members at Boeing went on strike at midnight because enough is enough.”The vote followed members’ rejection last week of an earlier proposal from the troubled aerospace giant, which had included a 20% wage increase over four years.“IAM District 837 members build the aircraft and defense systems that keep our country safe,” said Sam Cicinelli, Midwest territory general vice president for the union, in a statement. “They deserve nothing less than a contract that keeps their families secure and recognizes their unmatched expertise.”At the time of the earlier vote, union leaders had recommended approving the offer, calling it a “landmark agreement” and saying it would improve medical, pension and overtime benefits.The union members rejected the latest proposal after a weeklong cooling-off period.“We’re disappointed our employees rejected an offer that featured 40% average wage growth and resolved their primary issue on alternative work schedules,” said Dan Gillian, Boeing Air Dominance vice president and general manager, and senior St. Louis site executive. “We are prepared for a strike and have fully implemented our contingency plan to ensure our non-striking workforce can continue supporting our customers.”Boeing has been struggling after two of its Boeing 737 Max airplanes crashed, one in Indonesia in 2018 and the other in Ethiopia in 2019, killing 346 people. In June, one of Boeing’s Dreamliner planes, operated by Air India, crashed, killing at least 260 people.Last week, Boeing reported that its second-quarter revenue had improved and losses had narrowed. The company lost $611 million in the second quarter, compared to a loss of $1.44 billion during the same period last year.
Cathy Bussewitz, Associated Press
When Beyoncé launched the track list to her album Cowboy Carter ahead of its release in March 2024, Levis chief marketing officer Kenny Mitchell spotted an opportunity. Noticing the song Leviis Jeans, Mitchell moved quickly, renaming the brands social channels as Leviisa move that he says paved the way for one of the brands most ambitious and effective collaborations. Its resulted in a series of ads, a capsule collection, and innumerably viral moments on Beyoncés Cowboy Carter tour, with the singer wearing custom Levis throughout.
I connected with Mitchell for a wide-ranging conversation where he shared his playbook for the groundbreaking Beyoncé colab, how subcultures can be just as important as mass-market events, why he and Levi’s didn’t buckle in the face of the pressure for the company to drop its DEI initiatives, and his four-step process for crafting a compelling brand story.
[Photo: Levi’s]
How do you identify brand partners? Obviously Beyoncé is part of that, but how else do you try to connect Levis to the zeitgeist?
Often when we show up in culture, it can happen in the form of being adjacent and connected to some of the biggest icons in the world. Beyoncé is a great representation of that.
But it also is a showing up meaningfully in important subcultures. A subculture we connected with is sneakerheads with the Air Max collaboration that we had with Nike last month, which sold in minutes on our site. Another example is working with streetwear designer Tremaine Emory and Denim Tears, which is a longtime partnership.
Levis chief marketing officer Kenny Mitchell [Photo: Levi’s]
If you think about culture more broadly, the mainstream right now is made up of a bunch of things that used to be in subcultures. That’s where so much opinion is initially built and formed. We look at these opportunities to show up in culture as a way to demonstrate some of the elasticity of our brand. So it’s important for us to be deep in the subcultures, while remaining a democratic brand thats top of mind for people regardless of your station in life.
This final installment of the “Reiimagine” campaign with Beyoncé is coming on the heels of the American Eagle ad with Sydney Sweeneyand all of the backlash to it, amid this broader trend of brands moving away from the idea of diversity and that “democratic” approach, as you put it. Levis has remained committed to those ideas, though. How do you view Levis in this moment?
I cant really speak to other brands, but what I can say is that we as a brand have done our best to operate in a way that’s consistent with our values. You can see that in things like our Pride collection, which we continue to execute and be very proud of. We are a global company and we are activating in ways that reflect our fans and our consumersand they are diverse by nature. So we are going to keep operating in that fashion.
We recently had a proxy challenge against some of our DEI efforts, and Im incredibly proud that our executive team, our board, as well as our shareholders completely rejected that, and weve stayed committed to operating in ways that are aligned with our values.
[Photo: Levi’s]
How have you used the “Reiimagine” campaign to live up to those values?
At the heart of the “Reiimagined” campaign is the fact that Levis has served as what we call this “uniform of progress.” Thats a key part of what we often talk about in terms of breaking and building the codes of culture.
Beyoncé has been driving a tremendous amount of progress in culture. So what weve created together is reinterpreting iconic ads that were almost always shown through the lens of a white male protagonist and centering them on a woman of color in an empowering way. Its very much aligned with our strategy and brand point of view of being this outfitter of the worlds change agents, icons, and originals.
With the 501 Curvy product, were using Beyoncé as an example of how were taking an iconic look and continuing to evolve and progress it. Its an opportunity to take the insights we hear from our fans and uses these great cultural moments to help elevate some of our product innovation stories.
[Photo: Levi’s]
When youre developing a campaign or strategy, how do you identify what will make an impact?
When I think about storytelling, I have a little acronym that I sometimes useCASE. C stands for creative, A stands for authentic, S stands for strategic, and E stands for emotional.
With the C, are you tackling your storytelling in a way that’s novel, that’s interesting, that’s creative? The A: Is the story youre telling authentic to your consumer and fan, and is it also true to the brand? Those pieces are really important. Strategic: Is it answering the brief? Because creativity without strategy is artand Im not in the business of making art. Im doing marketing and advertising. I want people to act or change their belief or perception. And the E: Does it make you feel something?
When I embark on just about any effort, thats a framework that ive taken with me everywhere and its served me decently well.
For the past couple of months, I’ve been using a prerelease smartphone operating system that represents a significant design overhaul, with a greater focus on transparency and new visual elements that respond realistically to your touches and swipes.
No, Im not talking about iOS 26, where Apple is seemingly changing its mind about the extent of its Liquid Glass design language with every subsequent beta. There are some great new features in thereand iPadOS 26 is huge for productivitybut Id recommend most iPhone users wait for it to cook a little longer before checking it out.
Im talking about Googles Material 3 Expressive version of Android 16, which has been available on Pixel phones in beta form since May. Ive been running it on my Pixel 9 since it was first released to developer channels. Its flown under the radar somewhat, because although Android 16 has been publicly available for some time, this new accompanying redesign wasnt timed for the launchwhich made for an underwhelming update.
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Thats a shame, because Material 3 Expressive is actually really great which is good news for anyone thinking of picking up a new Pixel 10-series phone when they launch next month.
Expressive
Material 3 Expressive is kind of a convoluted name, building off the previous Material You language, which in turn was a spin on Material Design. But expressive is as good a word as any to encapsulate what Google is trying to do here. The software feels playful and interactive in a way that Android rarely has.
It starts with how Google is handling physics and haptics throughout the operating system. There are countless new animations and effects that make it more fun and responsive to use. The volume slider now has an incredibly subtle haptic effect that makes you feel like youre sliding a scroll wheel back and forth, for example, while notifications or recent apps in the multitasking menu all react to each other in physically consistent ways. You know how it feels to finally loosen a book from a crammed shelf? Thats kind of what its like to dismiss a notification hereit looks and feels like youre squeezing it out of a stacked list.
[Art: Material 3 Expressive]
Material 3 Expressive backs up the haptic feedback with animations that give on-screen elements a more physical feel. Buttons shift shapes depending on their activation state, while neighboring items in lists react to what youve selected. This design approach is particularly well-suited to Wear OS, which is now solely deployed on circular smartwatches; crucial buttons dynamically shrink and expand to fill the round spaces at the edge of the screen depending on how far youve scrolled. Its the first time its really felt like a smartwatch user interface is a natural fit for a round display.
Visual Overhaul
Googles new take on Android also comes with a welcome visual overhaul. Its not immediately dramatic, but youll notice increased use of transparencies throughout the operating system, as well as bolder typography and brighter color schemes that adapt to your content and wallpapers. Essential UI elements like the battery indicator are now chunkier and more visible. The lock screen has received particular attention, with a larger clock design and a compact notification view that minimizes your alerts until you choose to unfurl them. The overall effect is much cleaner and feels more intentional.
[Art: Material 3 Expressive]
The quick settings menu, which appears above notifications when you swipe down from the top of the screen, is a particular highlight. Its always been a helpful Android feature, but this new version is more customizable than ever, even letting you edit the size of buttons in the layout. If you opt for a wider Bluetooth button, for example, the left side of the button can be used as an on/off toggle while the right side expands to show you a list of your connected devices.
Googles Best Work
Material 3 Expressive wont spur as much discussion or debate as Apples Liquid Glass, for better or worse. Google doesnt have the same clout to get hird-party app developers on board, and this particular flavor of Android will really only be seen on the companys own Pixel phones, which are not huge sellers in most major markets.
But I really think this is some of the best design work Ive seen out of Google in recent years. While Ive always liked the Pixel version of Android, thats tended to be because of the unique functionality and the lack of bloat. Material 3 Expressive, however, feels genuinely fresh and appealing in its own right. Right now, I would say this is the most stylish and attractive software available on any phone, which might just be the first time Im able to say that about Googles own take on Android.
The new Pixel 10 lineup is set to be unveiled on August 20th. They may not shoot up the smartphone sales charts, but assuming they ship with the Material 3 Expressive version of Android 16, itll be a good reason for the uninitiated to give them a closer look on launch.
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Popular home furnishings retailer At Home has announced that it will close additional locations as it continues to work through bankruptcy proceedings.
The store closures are part of the companys efforts to get its debt under control as its bottom line continues to face several negative headwinds. Heres what you need to know about At Homes bankruptcy and its latest round of store closures.
Why is At Home filing for bankruptcy?
In June, At Home Group announced that it would file for Chapter 11 bankruptcy protection as it struggled under $2 billion worth of debt and sales challenges. As Fast Company previously reported, At Home cited several factors leading to its increased debt load and declining sales.
Those factors included inflationary pressures, reduced foot traffic, and tariff-related costs. Many of the factors are interlinked. Inflationary pressures lead to both higher prices in stores as well as a more cautious consumer, reluctant to spend their declining purchasing power on discretionary goods.
The inflationary pressures arent helped by President Donald Trumps ongoing global tariff war. Trump’s tariffs, which are taxes placed on companies importing goods into America, are raising expenses for those companies, which leads to decreased profits and more debt.
As profits decline and companies take on more debt, some may feel that they have little choice but to file for bankruptcy in order to get a handle on their finances.
Trump’s tariffs have hit major home goods, furniture, and other retailers particularly hard, as those businesses typically import a significant amount of their goods from overseas.
Announcing the bankruptcy in June, At Home CEO Brad Weston said, “[We] are operating against the backdrop of an increasingly dynamic and rapidly evolving trade environment as we navigate the impact of tariffs.
At Home is now taking steps to “improve our ability to compete in the marketplace in the face of continued volatility and increase the resilience of our business for the long term,” Weston added.
After At Home announced its bankruptcy filing, the company also said it would shutter over two dozen locations. Now, more have been added to that list.
At Home stores closing update August 2025
In June, At Home announced it would be closing 26 of its stores as part of its bankruptcy proceedings. At the time, At Home said it operated 260 stores in 40 states.
The closures represented 10% of its physical locations. Fast Company has previously reported the full list of 26 locations, which spanned 12 states.
Original list: 26 closing At Home stores
But now, At Home has announced that it will close an additional six locations, each in a different state. Those locations are:
3271 Market Place Drive, Council Bluffs, Iowa 51501
101 Randall Road, Lake in the Hills, Illinois 60156
3175 West 3rd Street, Bloomington, Indiana 47404
3100 Washtenaw Avenue, Ypsilanti, Michigan 48197
2341 State Route 66, Ocean Township, New Jersey 07712
190 South 500 West, West Bountiful, Utah 84010
At Home did not specify when these locations would close, but Fast Company previously reported that closing locations are expected to shutter by September 30.
The newly announced closing stores will continue to accept gift cards, gift certificates, and loyalty and credit card rewards through August 14.
Announcing the latest round of closures, At Home said, The sales are expected to run until all merchandise, fixtures, and store equipment at the affected locations are sold.
Hello and welcome to Modern CEO! I’m Stephanie Mehta, CEO and chief content officer of Mansueto Ventures. Each week this newsletter explores inclusive approaches to leadership drawn from conversations with executives and entrepreneurs, and from the pages of Inc. and Fast Company. If you received this newsletter from a friend, you can sign up to get it yourself every Monday morning.
There are some brands that customers patronize for convenience and some they frequent out of fandom. Raising Canes has managed to be both practical and beloved, a potent combo that has fueled the chicken chains impressive growth. The privately held company posted sales of $5.1 billion in 2024, up 33% from a year earlier, with same-store sales climbing 15%.
I asked co-CEO AJ Kumaran, who joined Raising Canes in 2014, to explain why people queue up for the restaurants relatively limited menu of chicken fingers, crinkle fries, Texas toast, Canes Sauce, and slaw. He attributes much of the brands cult-like following to its focus on community. We don’t just serve food. We serve our neighborhood, Kumaran explains. And thats not just corporate speak. That is truly what we believe in.
AJ Kumaran [Photo: Courtesy of Raising Cane’s]
Home sweet homage
While other restaurant chains might festoon their locations with sports memorabilia from a big-league teama Cowboys flag in Dallas, a Royals hat in Kansas City, KansasCane’s takes a different approach. Each restaurants decor is assembled by a team that researches and acquires items specific to that community, like the local high schools football jerseys, patches and helmets from the fire department, and even the cover of a hometown musicians latest album. The grand opening of a restaurant in Fall River, Massachusetts, this week will feature iced coffee from locally-owned New York Bagel Co. and music from Mayson Branco, a TikTok star and DJ raised in the town.
The result is a place that feels like a neighborhood jointKumaran says customers typically visit two to three times a monthwith the revenue of a national chain: Raising Canes says its average unit volume (AUV), an industry metric that represents average sales per restaurant, is $6.6 million, second only to rival cult brand Chick-fil-A, which reportedly boasts an AUV of $7.5 million across all its domestic locations.
That local feel extends to the structure of the company. Small clusters of restaurants have their own directors of marketing, training, recruiting, employee relations, and operations and facilities based in the area. We dont have a corporate office; we have a support office, Kumaran says. Within this company of 950 restaurants, were running about 200 or 250 small companies. Raising Canes also requires its restaurant leaders to live in the communities where they work. Coincidentally, Chick-fil-A operators are expected to do the same.
Scale, but stay cool
The challenge for Raising Canes, which was started in 1996 by founder and owner Todd Graves (and named for Gravess yellow Labrador retriever), is to maintain its cult-brand status as it expands. The company, which owns and operates almost all of its nearly 1,000 restaurants, aspires to reach $10 billion in sales with average unit volumes of $8 million by the end of the decade.
Still, scale and fandom dont have to be at odds with each other. Grocery chain Trader Joes, so beloved that consumers camped out to buy its shopping bags, reportedly has annual sales of about $17 billion. Luxury fashion house Herms, one of the most obsessed-over brands in the world, last year reported more than $16 billion in revenue.
And building community isnt just for consumer brands. Two years ago, I attended a user conference hosted by HubSpot, the maker of marketing, sales, and customer service software, and saw how the company fostered a sense of kinship through meetups and a dedicated space for Black and Latino customers. Ill be watching to see if Canva, the design software company, can maintain its earnest DIY vibe as it expands from the consumer space to serving enterprise customers.
As co-CEO, Kumaran says he feels the need to earn his customers loyalty with every single meal. Its not easy, he says. It takes a relentless amount of effort, hard work, focus, and energy.
How does your business court fandom?
Does your company have hard-core fans? How did you nurture love for your brandand how do you make sure that it endures? Send your stories to me at stephaniemehta@mansueto.com. Id love to dedicate a future newsletter to advice on wooing and winning dedicated customers.
Read and watch more: cult brands
Does Trader Joes deserve its cult-like following?
Inside the evolution of Chick-fil-A
How Glossier got its glow back
A serious concussion four years ago made me more susceptible to future head injuries. Sure enough, a simple bump this winter left me in a months-long funk.
My neurologist explained that my nervous system was stuck in an endless cycle of stimulus, unable to move out of fight-or-flight and into the mode of calm, strategic thinking required for recovery.
Learning how to consciously switch between these two states, known as the sympathetic and parasympathetic nervous systems, was key to my recuperation and an unexpected masterclass in adaptive organizational leadership.
In todays turbulence, many CEOs are experiencing a version of this neurological trap. Bombarded by geopolitical shocks, disruption from artificial intelligence, and demographic upheaval, many leaders and their teams are stuck in crisis mode. Because they are constantly addressing short-term emergencies, they dont always have time to access the rest-and-digest mode required for imperatives like long-term workforce development.
This insight from my concussion is changing not only how I help manage my global consulting firms think tank, the Oliver Wyman Forum, but also how I help advise Oliver Wymans corporate clients on creating and implementing workforce strategies.
Of course CEOs must address current emergenciesbut they can simultaneously build for the future. At the macro/strategic level, they can create cultures of connection and embrace the principles of emotional intelligence. At the micro/tactical level, they can commit to developing tomorrows leaders via initiatives like reverse mentoring and shadow boards.
The key: making time for these efforts even when crises crop up.
Prisoners of the moment
If some CEOs innate leadership reflexes are failing, its because they arent designed for an era of permacrisis. Todays economic unknowns are near historic levels: Uncertainty right now is comparable to the early days of the COVID-19 pandemic, according to the Federal Reserve. As a result, 43% of CEOs say they are focusing on projects with a time horizon of less than a year, according to a recent survey of CEOs of New York Stock Exchange-listed companies by the Oliver Wyman Forum and the NYSE.
Fixating on the short-term can erode confidence among employees. Globally, only 9% of nonmanagerial white-collar employees say they are extremely confident in the ability of their senior leaders to drive growth, and only 19% of employees say they can build a meaningful career at their current company, our surveys show.
A deep pool of academic research shows that companies that retain young talent and prioritize development outperform others over the long term in terms of innovation, profitability, and productivity. Likewise, our surveys show that when employees understand the why and see consistent leadership behavior, theyre 163% more likely to envision themselves staying at their companies.
So how can CEOs master their personal dimmer switch between crisis mode and company building?
Create cultures of connectionand double down on EQ
Sure, the troops can rally in the short term. But a constant state of permacrisis and dissatisfaction doesnt maximize human potential over the long haul.
Our surveys show that only one in five employees are satisfied with their company’s leadership, and less than a quarter feel leadership understands the challenges lower-level employees face. If left to fester, such feelings can lead to attrition. Half of employees we surveyed said they have quit a job to get away from a manager, and only 47% say their current manager understands their skills, interests, and gaps. People don’t quit companies; they quit the experience of being undervalued and misunderstood.
Ironically, personal connection is especially critical in the age of artificial intelligence. Companies might want to go all in on technology, but Generation Z, the cohort of people born between 1997 and 2012, demands emotional intelligence as well. Our surveys show that Gen Zers rank EQ as the second most important leadership trait (54%), after strong communication skills (60%).
Microsoft is an example of a culture marked by emotional intelligence, connection, and sense of purpose. Chief Executive Satya Nadella models qualities essential in todays workforce, such as learning fast, collaborating, and doubling down with confidence. He has also pushed for greater empathy and more active listening, encouraging employees to work together, learn from one another as well as from customers, and embrace different perspectives. The result: better morale, increased innovation, and a growth mindsettraits that pay dividends over the long term.
Build tomorrows leaders today
One way to show workers they are valued is via targeted leadership development. Some companies have cracked this code by implementing effective mentoring programs for employees of all levels.
Others include reverse mentoring, in which younger employees teach experienced leaders. One technology company, for example, has a suite of mentoring programs including one in which younger employees teach managers about digital technology and cultural trends. These programs shortened the time between promotions by 25% and lowered turnover to 0.7%, compared with 2.2% for non-mentored employees.
Leaders also can build tomorrows leaders by creating shadow boards, in which young employees advise senior leaders, offering fresh perspectives and customer insights. Shadow boards serve as alerting mechanisms for cultural shifts and opportunities that traditional leadership hierarchies might missand make their contributors feel heard.
Always be toggling
Its human instinct to barrel ahead, especially during a crisis. But just as I have adjusted my screen time and learned other techniques to recover from my concussion, leaders today need to learn how to toggle between sympathetic urgency and parasympathetic strategy.
The key isn’t to choose between crisis response and strategic thinkingit’s mastering the ability to consciously shift between them, to heal and grow, to go slow and fast, all at once.
By the end of this year, one in ten managers will be from Generation Z. Thats not a distant projection. Its happening right now. Its not just a statistic. Its a cultural turning point.
Ive spent the last decade teaching leadership and strategy to Gen Z students. Ive watched them go from unsure first years to confident professionals. And what Ive learned is simple:
Gen Z isnt waiting for the workplace to change. Theyre changing it themselves.
Recently, Glassdoor released new data showing dramatic increases in the way workplace culture is being discussed. And the results are striking:
Well-being mentions are up 222%
Burnout is up 126%
Boundaries are up 99%
Empathy and inclusion are up 76%
Clarity is up 52%
Each of these tells a story. Each one signals the arrival of a new leadership style, one built on care, communication, and clarity. Lets break them down.
1. +222% in Well-being Mentions
Well-being isnt just about yoga and flexible schedules. Its about creating environments where people can thrive. Gen Z leaders dont see this as a perk. They see it as a basic requirement. They talk openly about mental health. They normalize asking for help. And they understand that productivity is impossible without psychological safety.
Older generations were often taught to leave it at the door. Gen Z is asking, Why does it need to be that way? They believe the human experience belongs in the workplacenot in spite of professionalism, but as part of it.
2. +126% in Burnout Mentions
Gen Z is not afraid to talk about burnout. In fact, they insist on it. Not because they are weaker or less driven, but because theyve watched what happens when burnout is glamorized. Theyve seen family members and mentors pushed to the brink for companies that treated exhaustion as loyalty.
Instead, they are redefining ambition. For them, ambition doesnt mean sacrificing your health or identity. It means building sustainable careers with room to breathe and grow. They are more likely to flag unrealistic expectations and call out toxic urgencynot to avoid hard work, but to preserve the long-term well-being of their teams.
3. +99% in Boundaries
This is one of the most defining traits of Gen Z leadership. Boundaries are not barriers. They are frameworks for trust. And Gen Z leaders model them openly. They log off when they say they will. They tell their teams not to email at midnight. They expect mutual respect around time, space, and energy.
Whats most striking is that they apply this to others, not just themselves. They respect their team members boundaries and hold space for flexibility in a way that older leadership models rarely emphasized. Its not a lack of commitmentits a different way of leading.
4. +76% in Empathy and Inclusion
Gen Z isnt just hoping people feel seen. Theyre trying to figure out how to make that happen.
They want teams where people speak honestly, feel respected, and know their ideas carry weight. Theyre not chasing perfection, but by all accounts desire connection. And they know that leading with empathy means more than saying the right thing. Its about learning how to listen, adjust, and earn trust over time.
Sure, some of it might seem unfamiliar or even off-putting to older generations. But much of the skepticism comes down to communication style, not capability. Gen Z is more comfortable naming feelings. Theyre more likely to ask for clarity or set a boundary out loud. Whats different is that Gen Z managers are open about the learning curve. They want feedback. They want to get it right. And in that effort, theyre building something rare, a culture that values presence over polish.
5. +52% in Clarity
Clarity is often underrated. But to Gen Z, its everything.
They grew up in a world of information overload and constantly shifting expectations. As leaders, they dont want their teams guessing. They prioritize clear goals, transparent feedback, and honest conversations. They dont believe in vague corporate speak or ambiguous road maps. They believe in being upfronteven when the answer is “I dont know yet.”
This is a powerful shift. It builds trust quickly and reduces anxiety across the board. Clarity is not control. Its confidence. And Gen Z leaders understand the difference.
Clarity, Kindness, and Fairness
All of this reinforces what Ive long believed. And frankly, Im not surprised.
My own research over the past decade has pointed to the same themesespecially around clarity, kindness, and fairness. These arent just nice-to-have traits. Theyre the backbone of effective leadership today. Whats striking is that Gen Z isnt adopting these values because a consultant told them to. Its how they naturally operate. Its what they expect in a workplace, and its how theyre choosing to lead.
The shift is already underway. It didnt come with a press release. It wasnt driven by a top-down directive. Its happening because Gen Z professionals are quietly stepping into leadership rolesand leading in a way that feels more human, more honest, and more sustainable.
We dont have to agree on every approach. But we do have a choice: we can dismiss the shift, or we can engage with it. We can meet Gen Z leaders where they are and learn from the clarity, care, and courage theyre bringing to the table.
Because the future of leadership isnt a battle. Its a bridge. And were all better off if were willing to cross it together.
