Challenges faced by CEOs

updates + insights » Challenges faced by CEOs

Putting aside the obvious pressures around managing time efficiently and managing stakeholder relationships, a new survey out of the USA reveals what keeps CEOs up at night.

Attracting and retaining top talent

We’ve talked in previous blog posts about the increasingly competitive labour market that favours top candidates, and the implications for businesses in terms of attracting, developing and retaining exceptional performers.

Offering an attractive salary package is just one piece of the puzzle, leaders need to think more broadly and place more emphasis on company culture, creating an environment where employees feel like an asset to the business. Ask employees for feedback; be open and listen to new ideas; provide opportunities for employees to grow and learn; and recognise and reward good work/behaviour.

Creating new business models in response to disruptive technologies

Creating new business models and continually innovating is a top concern for CEOs. History demonstrates that for some companies, disruption often catches us off-guard. This response has coined the phase “being Uberized” which refers to a sudden undermining of a long-standing business model by a new, technology-centric entrant.

All businesses are based on a model and disruption basically “disrupts” this formula. The challenge is to continually innovate and ask the hard questions around what you could be doing better than what you are doing today.

Developing leaders

CEOs recognise the need to invest in future talent to develop leaders for the next generation. This includes continuous learning for all employees because the future of work is uncertain and roles that exist today may not exist in the future.

Putting effort into those who have been identified as future leaders means understanding what qualities, attributes or characteristics are required in a leader – like trustworthiness, fairness, being a good listener, having good judgement and being open-minded.

The positive point to take out from above, is that all three of these fears are internal to a business and therefore manageable. They just require thought, planning and execution.

If you are looking for assistance on how to cultivate your employer brand to ensure that you attract, grow and retain top talent, get in touch with us. 

The Decipher Team      

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