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How to help executives make well-informed decisions about the workforce
Top Business Challenges for Today’s CEO
The current economic environment has forced CEOs to focus almost all of their attention on revenues and profitability. They must be very aware of what competitors are doing— and competitors can be anywhere in the world. Additionally, executives are watching the government for indications of changing regulations and tax issues.
What the C-Suite Worries About
Top Threats to Business Growth Cited by Chief Executive Officers (CEOs)
- 65% Protracted global recession
- 60% Over-regulation
- 59% Lack of stability in capital markets
- 54% Low-cost competition
- 54% Energy costs
- 51% Availability of key skills
- 49% Protectionist tendencies of government
- 40% Inflation
Top Concerns of Chief Financial Officers (CFOs)
External
- Federal Government agenda/policies
- Consumer demand
- Price pressure from competitors
Internal
- Maintaining profit margins
- Rising healthcare costs
- Low employee morale
What the CEO Wants to Change About Workforce Management
In many ways, the recent economic troubles served to shine a spotlight on workforce management issues for many executives. Whether it was navigating layoffs, reducing labor costs, cross-training employees, or simply keeping the workforce morale up, many leaders found that their organizations were not as nimble or flexible as they would like.
Percentage of CEOs planning “large” or “significant” changes to areas of people management
- 41% Better managing of people through change
- 41% Morale and employee engagement
- 40% Training and development
- 25% Flexible working environments
- 22% Collaboration with a network of outside specialists
- 18% Compensation levels
- 14% Pension and healthcare benefits
by Sage Abra HRMS
