Disruption of supply chains, labor shortages and desperately needed updates to corporate strategy have CEOs worried for what 2022 holds, but a top concern was their own job security, according to a recent Bloomberg report.
New York based-management consultancy firm AlixPartners surveyed 3,000 executives across the globe to find out what they are most worried about, according to the Dec. 27 Bloomberg article. Concerns about job security came out as a top worry.
Falling right behind the No. 1 concern of permanent labor shortages, and before the continuation of supply chain disruptions (69 percent) was worry about CEOs losing their jobs (72 percent).
COVID-19 didn't make the list of top 10 worries. It came in at No. 19, with only 3 percent of executives listing COVID-19 as their primary concern for 2022.
"There are so many significant disruptions happening in every market, in every geography," said Simon Freakley, CEO of AlixPartners.
He told Bloomberg that despite the enormous disruption of the pandemic, the CEOs that made it through have had their attention turned to other challenges.
" And then, of course, all the normal pressures of needing to drive revenue, needing to drive growth, were front and center again," he said.
Looking to future strategy, executives revealed a desire for change. Fifty-seven percent of respondents said that they fear their companies are not adapting fast enough. The vast majority of CEOs, 94 percent, said they think their business model needs an overhaul in the next three years, with many of them citing digital transformation and tools.