The 2018 Word of the Year (and Why It Matters for Business)

Each year, the Oxford English Dictionary selects a Word of the Year that reflects the essence of that year and holds cultural significance. For 2018, the chosen word is "toxic," highlighting the pervasive issue of toxic behavior in the business world. This term, once associated with harmful substances, is now used to describe detrimental workplace cultures and toxic masculinity. As employees demand safe and inclusive work environments and hold companies accountable for enabling harassment, the repercussions of toxic environments are becoming increasingly apparent.

According to the Gallup 2018 Global Emotions Report, many people report feelings of worry, sadness, stress, and anger, underscoring the urgent need for businesses to address the emotional toll of their practices. As scandals and negative headlines impact employee and consumer trust, the responsibility to tackle these issues is shifting from HR to executive leadership. Organizations must recognize that the intangibles of business, such as culture and ethics, are crucial to their success.

As we move into 2019, there is a growing expectation for companies to prioritize social responsibility and foster trust among consumers and employees alike, signaling a shift towards safer, more accountable business practices.