Leading a company comes with significant opportunities and significant challenges alike. While this is true in any climate, it’s especially relevant amid an uncertain economy and ongoing shifts in the way we work. Today’s CEO concerns are rightly placed as they have to always learn how to best navigate a rapidly evolving business landscape.
What are CEOs most concerned about
When CEOs have concerns they need support. So what are CEOs most concerned about. Listed here are few of them.
Customer retention.
One of the CEOs goal is retaining customers. However, organizations are no longer solely combating competition; they are fighting against inflation and its impact on cash flow, as well as how that impacts customers’ strategic spending decisions.
Meeting company goals
One more of the CEO concerns is about meeting their current goals this year. The pendulum has literally swung from one side where employees were in control to the other where the employer is back in control, and with that comes the unease of not knowing if CEOs have the right people to reach their goals. One way to mitigate this is to find easy ways to still empower, inspire and motivate your current workforce.
Managing Changing Business Models
Managing changing business models is important for CEOs now. The best way to approach this is to think out of the box and listen to what all the stakeholders have to say. These would be the most actionable points to start with to handle these changes.
Remote leaders
Another CEO concerns is handling remote teams and about delivering on the promise to create a culture that fosters inclusion and belonging. Set aside time to talk not only about the “what” (what you’re working on) but also the “how” (how you work together).
Growing a team
The main concern for CEOs this year is the team. The great resignation took not just a lot of talent, but also the best. So, every smart CEO’s concern is: “How do we build a team that is resilient, and how do we grow it when the market is in a downturn?” The best approach: utilizing non-traditional incentives, making the recruitment process smart and short.
Being resilience and adaptive
A key concern for the CEOs is increasing the resilience and adaptability of their teams when confronted with brittle and confusing world. One way to achieve this is by strengthening relationships on the team and between the team members and their ecosystem, introducing collaborative models and catalyzing a shift from reactive to creative leadership.
Change as per demand
Businesses see the need to transform to meet the demands of a rapidly changing world. To do so, executives have reported the need to transform on a personal level to meet those demands. Adapting to thinking in new ways, not knowing but learning and creating scenarios, implementing digitization, managing new generations at work, awakening curiosity and developing a growth mindset are just some of the items on the agenda. –
Being a mindful leader
One thing many CEOs are concerned about this year is the ability to lead through uncertainty with mindfulness. Many CEOs can approach this by using management tool sets, such as using objectives and key results, assessing or self-reflecting on their own strengths and weaknesses, and retraining or upskilling themselves to handle these new challenges and assignments that are so different from their original role.
Supporting Employees
CEOs continue to see concern around burnout levels and overwhelmed workers. Longer hours, uncertainty around business goals and macro recession concerns are weighing heavily on CEOs’ minds. If leaders can approach the issue from a new paradigm around managing energy instead of time, they can support employees with new practices to sustain their performance and improve focus while minimizing burnout.
Retaining Top Performers
Even with the projected recession, employee retention and specifically retention of top performers is a top issue for CEOs in 2023. Organizational leaders, top to bottom, need to be highly effective at relationship building and staying connected with the health of the culture so that employees feel a true sense of ownership and engagement.
Talent acquisition
Another concern for CEOs is finding talent. Several leaders are hoping that mass layoffs in big companies will help. The other big concern is whether they will be able to raise their next round of funding. Therefore, they are focusing on growing revenue and customers.
Attracting, Retaining and Inspiring Talent
Prioritize people, and the profits will come. Attracting, retaining and inspiring talent remain top-of-mind concerns for most CEOs. Don’t let up on engaging, inspiring and developing your most precious resources, your talent.
The sooner the CEO appreciates the challenges involved and, with organizational support, develops a plan to overcome them the sooner he or she can get on with the business of leading.
