The latest KPMG U.S. CEO Outlook, which includes insights from 500 CEOs at large companies around the world, including 140 in the United States, provides a timely look at the key challenges and opportunities in driving business growth over the next three years, as well as CEOs’ responses to the ongoing flu pandemic in the country.
While the Covid-19 vaccine was being rolled out in the first half of 2021, the poll was issued in the second half of the year as CEOs continued to lead their businesses during a moment of great upheaval and uncertainty. As they prepare for a new reality, CEOs maintain their confidence in the local economy and the potential for development in their own companies.
As Linda Imonti, office managing principal of KPMG in Chicago, explained, “CEOs have taken steps to restructure their organizations throughout the epidemic.” In order to promote expansion while also optimizing the bottom line, they are concentrating on prioritizing and speeding up these projects.” Almost every strategy has a knock-on impact throughout the firm, affecting everything from the finance department to tax consequences and technological requirements.”
As a result of this transition, many CEOs are moving the emphasis of their firms’ environmental, social, and governance (ESG) initiatives to include the social component. Efforts to make substantial progress in the areas of diversity, equity, and inclusion are recognized by CEOs as essential.
Customers’ long-term expectations have been transformed as a result of the epidemic, and CEOs are concentrating their efforts on dramatically increasing the speed with which they can deliver a flawless digital customer experience. Many CEOs believe that by acting rapidly in this area, they have moved their businesses years ahead of where they planned to be, and they want to continue to invest in technology that will improve the customer experience.
More Growth Expected
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Beliefs & Business Development
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CEOs are also continuing to rely on their own personal beliefs and sense of purpose as they seek to meet the requirements of their stakeholders. They are adopting a variety of initiatives to help their employees and develop their businesses – with a particular emphasis on employee well-being and mental health, as well as the preservation of corporate culture.
The following were the most significant findings from this year’s annual pulse survey:
More than 80 percent of CEOs are optimistic about the growth prospects of their respective companies as well as the overall U.S. economy.
The majority of CEOs cited regulatory risk as the most serious barrier to the expansion of their companies.
Despite the fact that consumer contact would be handled mostly through virtual platforms, more than half of CEOs want to continue investing in digital communication channels.
Over 90 percent of CEOs anticipate a change in their attention away from the financial component of ESG initiatives and a rise in examination of their organization’s diversity performance.
Employee well-being and mental health were mentioned by more than 60% of CEOs as an area where more attention should be paid to human resources.
CEOs are continuing to lead with bravery, conviction, and a sense of purpose while the epidemic continues, and they are making important investments that will position their firms for future success.
