In the midst of a scenario marked by digital transformation and significant disruptions within the business world, a recent survey from Gartner — a technology consultancy that seeks to provide market insights — identified people, purpose, prices and productivity as being among the key issues faced by company decision makers.
Gartner’s survey involved interviews with more than 400 senior business leaders with regards to their top priorities for 2022 and 2023. Results was surprising, with significant variations seen in comparison to previous years in which the survey was carried out.
In this article, we have gathered the top priorities for CEOs this year. Keep reading to learn more about these areas.
Growth continues to be the priority area that was most cited by CEOs (51%), but saw a reduction in responses in this year’s survey. Gartner’s analysis linked this decline to the impact of supply chain issues, as CEOs may not be as willing to seek out increases in demand if they are not able to deliver products to the final consumer.
Issues related to emerging technologies, such as digitalization, e-commerce and cybersecurity received the second highest number of responses in the survey (34%). For CEOs, the pandemic highlighted the importance of remote work, e-commerce, and other mechanisms for digital business. Gartner’s survey suggests that business leaders plan to maintain their focus on technology.
The priority placed on workforce issues such as retaining talent, hiring and diversity, equity and inclusion (DEI) saw a significant increase for the second consecutive year, coming in at a close third (31%) and significantly ahead of financial issues such as profitability, cash flow and capital raising, as well as corporate initiatives such as M&A, strategy change and restructuring.
Environmental issues emerged in ninth place: 9% of respondents cited the environment as being one of their top three priorities.
While this may be a relatively small absolute number, this is the first time the category has ever cracked the top 10 and reflects a very significant increase in interest. (Just three years ago the environment held the 14th position in survey responses, coming in 20th seven years ago.)
Business leaders are now under pressure from customers, investors, regulators, and employees to take action with regards to environmental sustainability, and sustainable business is increasingly being seen as an opportunity to increase business efficiency and drive revenue growth.
Inflation is a sudden-onset issue for many CEOs, with 62% reporting that they expect it to be a persistent or long-term concern. At that point, pandemic-induced supply chain shortages and government spending aimed at providing assistance to people living with lockdowns and periods of leave were driving inflation. Russia’s invasion of Ukraine and the resulting economic sanctions have further aggravated the situation. Disruption in the supply of commodities from the region, such as oil, gas, grain and neon, will continue to drive up prices across a range of industries, from restaurants to semiconductors.
Gartner’s survey shows that current market conditions have forced CEOs to increase their focus on people, environmental issues and management excellence in order to deal with an increasingly complex global economic scenario.
Are you prepared to address these rapidly-changing leadership priorities over the short term?
Read below to learn more about international short courses that will provide you with the knowledge and experience needed to tackle these new market demands:
Business Sustainability for Leaders at SUNY (New York);
Leading & Coaching The Human Organization at ULV (USA);
Leadership in an Age of Disruption at CSUN (California);
Digital Companies & the E-Business Revolution at CSUN (California);
Corporate Financial Management at SUNY (New York).
Register for an international short course offered by IBS Americas now and stay up to date with the most relevant leadership areas.