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Has today’s CEO seen it all? A Global Pandemic and the supply chain of goods and services placed under threat, as the global economy responds to the operational challenges created by covid. Their businesses impacted by Climate change; Digital disruption; Brexit; The Great Resignation; Diversity; Hybrid working… The list keeps going.
So what awaits our Executives in 2022 and how will they navigate through the next 12 months?
At JP Executive Search, we examine some of the main business challenges likely to be keeping the Board awake and how careful planning and open communication can help alleviate some of the leadership insomnia which could lie ahead.
This concept is now a massive headache for the CEO, get this decision wrong and the infrastructure of the workforce can crumble. CEO’s admit that remote/Hybrid working will require an ongoing level of experimentation. There will be practices initiated that work, and some that don’t, but there is now an expectation that there is a commitment to employees, to give them the flexibility to show up to work as the best version of themselves — either remotely or in person.
Interestingly companies are finally far more open to recruit from everywhere, within a multi time-zone band. Flexible working is a real game changer that will help businesses attract and retain more diverse team members, from every corner of the globe. Individuals who bring new ideas and new energy to help ensure a thriving business.
It is clear now that Climate change is clearly disrupting business. It is driving an unforeseen physical impact, such as the frequency of extreme weather events which affect business infrastructure and of course the ongoing harm to our sea life and food supply chains. At the same time, policy and technology changes that seek to reduce the associated physical impacts - when not applied with consideration - can also cause disruption to lifestyle, employment and business.
Without intervention, climate change will continue to create risks and opportunities for business in several ways. Investors and other stakeholders are now challenging companies to take full responsibility with the expectation they take a blended, strategic approach to addressing climate change. The CEO and their Board of directors will play a pivotal role in this fight against this deadly global issue as they must ensure the long-term sustainability of the companies they oversee.
C-Level Executives worry constantly about evolving digital technology. They know the only constant is change. With the rapid rate of technological advancements, no one could keep track of every new update or latest cutting edge innovative tool on the market. No CEO wants their business to fall to the behind the others. So what does 2022 mean for technology and how do leaders stay ahead?
CEOs are empowered to transform their IT function’s role, core systems, and bring about the cultural and organisational changes that transformation involves. CEOs need to communicate with their chief information officers (CIOs) and management teams to evaluate how capable their IT function is and how closely it aligns with the business. In 2022, a CEO who examines how key technology decisions are made across the whole company will ensure a successful approach to modernising the company’s IT offering and shape a technology function that’s fit for the digital age.
For most CEOs the UK Labour shortage in the second half of 2021 is just a very visible example of a chronic problem affecting most sectors following Brexit: Initially it was logistics, hospitality & retail, hospitals, but now more city professionals have started to dwindle as they relocate back to Europe and elsewhere.
Leaders look to prioritising the search for top talent and retention,. The use of planning and technology solutions help better manage these challenges, improving scheduling and productivity, as well as engagement with their employees will be paramount in 2022.
So with a busy list of priorities keeping our CEOs awake in 2022 it can be highlighted that people will remain top of the list. Smart CEO’s know they can’t do it all alone, and an emphasis should be placed on securing high-performing talent; having robust and innovative technology in place; retaining a sense of strong communication across the landscape of stakeholders and planning well ahead for any eventuality with sustainability and diversity sitting at the heart of their strategy.
To find out more about executive talent retention and work force planning in 2022, please contact Founding Director, Jacqui Paterson on jacquipaterson@jpexecutivesearch.com
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