The talent challenge: Adapting to growth. The 17th Annual Global CEO Survey
Although this particular PwC report is specifically targeting NZ challenges. What is interesting in this survey, is the comparison between the optimism in NZ around given topics and the thoughts of CEOs from other countries.
Bruce R Hassall, CEO & Snr partner at PwC suggests that the past few years have tested the world's CEOs to their limit.
He goes on to say that ‘The global recession, economic crisis and constant redrawing of the economic map have demanded truly extraordinary leadership. Our 17th Annual Global CEO Survey at last sees the world's leaders in a more optimistic frame of mind.
The survey explored CEOs thoughts on growth, the global trends transforming business, and how they are preparing their organisations to be ‘fit for the future'.
What we found in New Zealand is our CEOs are facing many of the same challenges and opportunities identified by our Global CEO Survey results. However, they are significantly more optimistic about the outlook for the global economy and their business revenue growth over the next 12 months, with 63 percent believing the global economy will improve and 89 percent confident about their business growth.'
He cites the following challenges facing ALL CEO's:
‘Megatrends such as technological development, demographic change and urbanisation are transforming New Zealand and the world, and the business landscape along with it. At the same time, the relationship between corporations and their stakeholders has shifted and fundamental questions are being asked about the purpose and nature of business.
It's clear that the implications for talent management are profound. Skills shortages are once again keeping CEOs awake at night and megatrends are only likely to make the problem worse. This is no time for tinkering at the edges of talent management; the magnitude of the changes underway mean that a fundamental rethink is needed.'
He warns that ‘Time isn't on their side. CEOs have led their organisations through the toughest of years, but the fight isn't over. The most successful organisations will be those that learn quickly how to harness the opportunities and minimise the risks brought by megatrends. The age of crisis management is coming to an end - now it's time for transformative change.'
Some of the comparisons may surprise:
- 63% of NZ CEO's believe the global economy will improve over the next 12 months versus 44% globally
- 80% of NZ CEO's said availability of skills was a serious concern versus 63% globally
- 47% of NZ CEOs felt that HR was well prepared to capitalize on transformational trends versus 34% globally
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