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The outcomes from a as a lot as date portray from West Monroe printed that 49% of C-suite executives imagine the COVID-19 pandemic has had the very best impact on their firms — with the connected Huge Resignation and labor shortages coming in at a shut 2nd — indicating that other concerns in 2021 garnered much less consideration from execs.
This past year taught every person that the sector remains to be consistently evolving. The C-suite responded to the changing trade panorama by tackling concerns that were unexpected even trusty a year ago. The Delta variant and COVID-19 had the very best impact on trade in 2021 in response to the execs polled. One other 15% felt the pandemic’s enact on employees had the very best impact on their group. West Cruise respondents felt the pandemic’s enact on employees the most (18%), while the Midwest space modified into once the least fazed, with trusty 9% citing it as having the very best impact on trade.
Above: In accordance to C-Suite Executives surveyed in Q4 by West Monroe, the pandemic and its connected effects had the very best impact on trade in 2021, while every little thing else modified into once compelled to procedure shut a backseat.
Listing Credit: West Monroe
The Huge Resignation, shortages, and scarcities accounted for 18% every. With the job market as sizzling as ever, employees began leaving their firms en masse. Execs were compelled to glean ingenious and take a look at out original suggestions to hire and abet the very best abilities. Growing salary, space flexibility, and contingent abilities were the pause approaches, in response to the respondents. Unsurprisingly, CFOs were the most concerned execs about shortages and scarcities (24%), adopted by 22% of COOs.
All of this meant much less time for executives to focal point on other pressing trade concerns, including investing in tech (4%), cyberattacks (3%), availability of the vaccine (3%), and ESG trends/activism, which wasn’t at all a gigantic philosophize to the C-suite when as in contrast with other trade concerns in Q4.
The portray is in accordance with see outcomes from 150 C-stage executives with firms of as a minimal $250 million in annual earnings, soundless between September 17 to September 21, 2021.
Learn the elephantine portray by West Monroe.
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