Technology remains a top strategic focus for one-third of senior executives, with automation rising noticeably as a key initiative versus 2022, and digitalization and digital transformation firmly on the radar.CEOs also seem to be differentiating more distinctly now between “information technology” and “digital capabilities.
Companies across industries and geographies have struggled to find the people they need. Some reasons are pandemic-related: early retirements, long-term sickness and. However, deeper structural, demographic issues, such as the workforce departure of the baby-boomer generation, are also at play. CEOs also cite compensation as a key talent issue. Employees’ pay concerns naturally grow during inflationary periods, but today’s unusual labor market — in which unemployment remains low despite economic weakness — means employee pay demands aren’t likely to abate.