\u201cWhen determining business priorities, CEOs are hesitant, but not frozen,\u201d said\u00a0Kristin Moyer, Distinguished VP Analyst at Gartner. \u201cMore than half of CEOs believe an economic downturn or recession in 2023 will be shallow and short, and the survey showed only a modest rise in cash flow, capital and fundraising concerns.\u201d<\/p>\n\n\n\n
Despite the impact of these\u00a0economic headwinds, half of CEOs cited growth as the top strategic business priority for the next two years.\u00a0Technology also remains a top focus area for CEOs, closely followed by\u00a0workforce issues\u00a0(see Figure 1).<\/p>\n\n\n\n
Fig. 1: CEOs\u2019 Top Strategic Business Priorities for 2023-2024 (Sum of Top Three Mentions)<\/strong><\/p>\n\n\n\n Source: Gartner (May 2023)<\/p>\n\n\n\n \u201cAfter three years of volatility, CEO priorities are stabilizing,\u201d said Raskino. \u201cExecutive leaders are looking past the aftershocks of the omnicrisis period to a time when talent, sustainability and next-level digital change will be the levers of competitive performance.\u201d<\/p>\n\n\n\n In fact, mentions of\u00a0environmental sustainability\u00a0rose 25% over the previous year\u2019s survey, which was the\u00a0first time\u00a0sustainability ranked among CEOs\u2019 top 10 priorities. Gartner predicts that by 2026, environmental sustainability will be a higher CEO strategic business priority than the technology-related category.<\/p>\n\n\n\n Inflation Drives Shifts in Customer Behavior<\/strong><\/p>\n\n\n\n Inflation\u00a0was ranked as the most damaging business risk by 22% of CEOs, and nearly a quarter cited greater price sensitivity as the biggest shift in customer expectations they anticipate this year. However, increasing prices is still the top action that CEOs are taking in response to inflation (44%), followed by cost optimization (36%) and productivity, efficiency and automation (21%).<\/p>\n\n\n\n \u201cIt\u2019s concerning that CEOs do not yet seem to be focused on productivity as much as they should be in an inflationary period,\u201d said Moyer. \u201cThis may be due to wishful thinking that inflation will not become a persistent feature of the economic landscape. CEOs must embrace automation to redesign methods, processes and products for efficiency, rather than pushing cost increases onto customers.\u201d<\/p>\n\n\n\n Attracting and Retaining Talent Is the Top Workforce Priority<\/strong><\/p>\n\n\n\n When asked about the impact of various risks on the business, 26% of CEOs cited the talent shortage as the most damaging risk for their organization. Attracting and retaining talent is, by far, CEOs\u2019 top workforce priority. Concerns about compensation are the biggest shift in employee and prospective employee behavior that CEOs anticipate, followed by a desire for greater flexibility and remote or hybrid work.<\/p>\n\n\n\n \u201cThe emphasis on pay is not surprising in an inflationary environment, but in prior economic cycles, unemployment would typically be undermining labor market power,\u201d said Raskino.<\/p>\n\n\n\n Gartner clients can read more in the report\u00a0\u201c2023 CEO Survey \u2013 The Pause and Pivot Year.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" A recent survey of CEOs and senior executives by Gartner, Inc. revealed that\u00a0artificial intelligence (AI) was the top technology that CEOs believe will significantly impact their industry over the next three years, cited by 21% of survey respondents. \u201cGenerative AI\u00a0will profoundly impact business and operating models,\u201d\u00a0said\u00a0Mark Raskino, Distinguished VP Analyst at Gartner. \u201cHowever, fear of […]<\/p>\n","protected":false},"author":1,"featured_media":16418,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","footnotes":""},"categories":[2],"tags":[],"class_list":["post-16416","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/pressreleasenetwork.com\/site\/wp-json\/wp\/v2\/posts\/16416","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pressreleasenetwork.com\/site\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pressreleasenetwork.com\/site\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pressreleasenetwork.com\/site\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pressreleasenetwork.com\/site\/wp-json\/wp\/v2\/comments?post=16416"}],"version-history":[{"count":1,"href":"https:\/\/pressreleasenetwork.com\/site\/wp-json\/wp\/v2\/posts\/16416\/revisions"}],"predecessor-version":[{"id":16419,"href":"https:\/\/pressreleasenetwork.com\/site\/wp-json\/wp\/v2\/posts\/16416\/revisions\/16419"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pressreleasenetwork.com\/site\/wp-json\/wp\/v2\/media\/16418"}],"wp:attachment":[{"href":"https:\/\/pressreleasenetwork.com\/site\/wp-json\/wp\/v2\/media?parent=16416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pressreleasenetwork.com\/site\/wp-json\/wp\/v2\/categories?post=16416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pressreleasenetwork.com\/site\/wp-json\/wp\/v2\/tags?post=16416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"\"](\"https:\/\/blog.dubaicityguide.com\/site\/wp-content\/uploads\/2023\/05\/93b1f982-2ef7-4a5a-87f4-46662d668ceb-1024x586.png\")
<\/figure><\/div>\n\n\n\n