Inflation, geopolitical instability, supply chain disruption, and the remnants of the pandemic: are external factors that have caused CEOs worldwide to lower their expectations for 12-month growth. The latest survey by Deloitte in partnership with Fortune magazine, however, shows that 116 leading CEOs representing more than 15 industries remain relatively optimistic about the performance outlook of their own organizations.
Due to the build-up of a strong culture that has been targeting and countering current trends, several strategies are being employed to achieve this.
Regarding the value of various tactics being employed to combat the Great Resignation, CEOs believe there is more to be gained by providing greater flexibility (83%) and training leaders to empower and engage workers (62%) as opposed to merely offering more financial-related incentives, such as increasing pay (26%), expanding benefits (23%), and offering referral bonuses (8%).
The leaders also recognize that training should not just be for leaders, as some offered comments suggesting that the way to combat the current talent gap is through reskilling, upskilling, and more career development opportunities.
The survey reveals that diversity, equity, and inclusion (DEI) practices have also seen positive strides and CEOs remain committed to these priorities Overall, CEO commitment to DEI has grown over the past year, including increases in organizations building DEI into strategic priorities/goals (92%) and disclosing DEI metrics to employees (72%).
“The complexity and uncertainty of the economic environment are weighing on CEOs today as they plan for the next 12-18 months while navigating a myriad of disruptive factors such as inflation and supply chain issues, talent and skills gaps, and geopolitical instability. But despite lower economic growth expectations shared by CEOs, they remain relatively optimistic about the performance outlook of their own organizations.”, said Joe Ucuzoglu, Chief Executive Officer, Deloitte US.
Source: 2022 CEO Priorities Survey | Deloitte US