Ideagen report reveals challenges and priorities for CEOs in the changing business landscape
Aug 29, 23
Ideagen today unveiled key findings from its latest research report, "Resilience matters: From survive to thrive" which has identified five common themes facing industry in the coming 18 months.
The insights from ore than 500 top executives across multiple regulated industries, revealed that more than 20% of CEOs are struggling to find skilled workers, highlighting a significant talent gap in the current market. A quarter of CEOs said the shift towards hybrid-working was a potential risk to their resilience, indicating the need for better strategies to manage this new model of work.
As well as a battle for talent and worker shortages, productivity, supply chain vulnerability, ESG reporting and the adoption of AI and emerging technologies are the main concerns on the minds of industry bosses.
Speaking about the report, Ideagen CEO, Ben Dorks said:
"Business resilience is high on the boardroom agenda right now, and our findings underscore the complex challenges and opportunities faced by regulated industries in today's rapidly evolving landscape.
"True businesses resilience needs to be evident at all levels, strategically, organizationally, operationally and personally. Our hope is that by sharing these findings, along with guidance on mitigating actions, we can further support the safe hands and trusted voices whose job it is to turn risk into resilience every day."
Investing in emerging technologies is a top spending priority for the next 18 months, reflecting a growing recognition of the role of technology in driving business growth and resilience. However, small and medium-sized enterprises (SMEs) expressed concerns about their tech investments being insufficient to maintain their competitive edge, underscoring the need for targeted strategies to support SMEs in their digital transformation journey.
Interestingly, 8% of CEOs admitted to having 'poor or very poor' supply chain management capabilities, a critical issue that could impact business operations and profitability if not addressed.
Other industry-specific findings included:
- 50% of food and beverage CEOs said tacking staff shortage was their biggest focus it was also the biggest concern for public sector bosses (47%)
- Construction and engineering, healthcare, aerospace, education, and FMCG all said availability of skills was a high concern
- 60% of healthcare CEOs said mental health was a spending priority
- 47% of aviation bosses said safety is a key investment priority over the next 18 months.
- Finance sector CEOs told us that their key priorities for the next 18 months were increasing the efficiency of risk management and investing in emerging technologies.
The insights from the "Resilience matters" report shed light on the broader implications for businesses and serve as a guide for organizations looking to build resilience in the face of ongoing change and uncertainty.
Businesses can download a free copy of the report here, which also includes a link to a resource hub of extra content and information and support focussed on the five key themes:
- Enhancing productivity
- Winning the battle for talent
- Harnessing AI and innovation
- Supply chain integrity
- ESG reporting