Evolving CEO Priorities: Research Unveils New Challenges?

Priorities are changing for CEOs. In our recent CEO Research, we asked leaders what they are focusing on this year.??

Interestingly, cost reduction has moved into the top three priorities list for leaders (last seen for this group in 2020). However, the onus on cutting back is not deterring leaders from making strategic investments, particularly in new technology which is an organisational change that CEOs continue highlight in this latest report.?

Innovation and growth have also made a return to CEOs' top priority list from 2021. A renewed interest that spotlights the imperative for organisations to stay ahead of the curve and adapt to evolving market dynamics. This also accounts for the continued investment in new technology despite continued economic challenges and tightening budgets.??

So, what does this mean for leaders? What is top of the agenda for executive teams and are they ready to respond to this new focus on innovation and growth??

Discouragingly, only 22 percent of CEOs express full confidence in their top team's ability to lead transformation. Furthermore, CEOs also acknowledged the need to allocate more time for long-term planning (70 percent), as well as the importance of improving the quality of strategic debates with their Boards to drive sustainable growth (74 percent). These findings underscore the challenges leaders face in ensuring their teams are well-equipped for the complex task of driving change.?

Perhaps this is also why only 30 percent of CEOs are fully confident in their capacity to respond effectively to evolving customer needs and behaviours, a continued problem from 2022. Customers are still the most challenging external stakeholder in our latest CEO Research. Leadership teams need to ensure they are agile and prepared for disruption. This will be key in creating an organisation which is resilient to ever-changing customer trends.?

And let’s not forget the CEO’s own outlook and capabilities. Now more than ever, leaders need to invest time in themselves, as well as carving out time to be externally and future focused.???

Unfortunately, we see yet again in our research that over half (57 percent) of CEOs feel isolated in their role, pointing to the need for a better support network and leadership development tools. An overwhelming 96 percent recognised the positive impact that external mentoring can have on senior executive performance, showing CEOs are keen seek external reference points to foster success.??

Criticaleye’s own global leadership Community has been supporting CEOs, C-suite executives and global leadership teams for over 20 years. Our Members represent a large number of global companies, alongside some of the business world’s most influential thought leaders, so that CEOs enhance leadership performance and access support.?

Click here to read our full CEO Research report.??