Priorities of today’s business leaders

We have already written and spoken extensively about the changing work environment, which has been affected by a number of factors at a global level. And it’s true that every day brings new challenges that business leaders have to think about. It also changes the focus of the action. Research center Gartner has collected data on the strategic business priorities of business leaders for 2023 and 2024 compared to 2022.

Growth is still at the top of the company’s priority list, although its importance has dropped from 52% to 49%. Inflation could be to blame for this decline, but in the eyes of the CEOs surveyed, it will not cause a prolonged recession for the company. Mark Raskino, however, mentions that 2024 will be a big turning point where companies will return to this priority as the main one and focus more attention on company growth.

The next highest priority is related to technologies – their implementation, use and integration in companies. This priority has also not changed its position in the top since 2022. One-third of surveyed executives recognize implementing or maintaining technology and automation as one of the keys to business success. Although many companies have already focused on IT investments, these 2 years will be devoted more specifically to digitization processes.

In the third place on the list of priorities is the workforce. Given global inflation and talent shortages, the importance of the workforce has grown since last year. Business leaders develop strategies to attract and retain valuable employees. Some of the reasons for this problem can also be linked to the pandemic – early retirement, long-term illness, as well as new requirements for wages and working conditions. Employees are demanding flexibility and a hybrid way of working, which managers should take into account when developing strategic plans.

It is interesting that productivity and efficiency are ranked 10th in the list of priorities for company managers. The basis of the company’s growth is efficient and productive work, which helps to reach ever new heights. Also, these two elements are important to reduce the company’s costs (6th place in the list of priorities). Gartner researchers, however, estimate that in 2025, productivity and efficiency should rank 5th in the top, experiencing a big rise.

Undoubtedly, the focus of company managers is divided into many different parameters, all of which would like to be prioritized. Unfortunately, this is not possible, but one thing is clear – the focus of leaders today must be dynamic.

Sources used in the article:
Wiles, J. (2022) CEOs Turn a Sharp Eye to Workforce Issues and Sustainability in 2022-23 https://www.gartner.com/en/articles/ceos-turn-a-sharp-eye-to-workforce-issues -and-sustainability-in-2022-23
Wiles, J. (2023) Survey Signals Pause-and-Pivot Year for CEOs https://www.gartner.com/en/articles/survey-signals-pause-and-pivot-year-for-ceos