What are CEOs concerned about in 2016?
Now that 2016 is in full swing, the results of a new survey have revealed the current main concerns of CEOs around the world.
Research carried out by PwC for it 19th Annual Global CEO Survey shows that while 84 per cent of chief executives are confident about their companies’ prospects for the year ahead, many are worried about the safety and compliance of their organisations in today’s increasingly digital age.
Here, we’ve taken a look at CEOs’ prime concerns, and how recruiting experts could help to put these worries to bed.
Three-quarters (75 per cent) of CEOs said they were concerned about their business’ cyber security, as attacks and breaches become more high-profile and damaging than ever before.
With 31 per cent of respondents reporting that they are planning to merge with or acquire an overseas firm over the coming 12 months, cyber security concerns grow, as international borders open up a whole new web of potential threats.
At the same time, almost all (95 per cent) of global CEOs are adapting how they use technology to deliver their companies’ products or services to meet the ever-changing expectations of customers and stakeholders.
As firms embrace new technologies and change their digital strategies, it is of the utmost importance that they have adequate cyber security measures in place to protect their assets and other pieces of sensitive data. Failure to do so could result in significant financial losses, as well as potentially irreparable reputational damage.
Staying compliant with the latest regulations was another top concern among global CEOs, but particularly for those based in the UK. Of these, 82 per cent said that over-regulation was their number one worry, making it almost impossible for them to remain compliant at all times.
In light of this, the majority of CEOs said they want the British government and business community to work together to make sure all parties are aware of the latest regulations and that there aren’t too many in place. Respondents said they believe this way of working would have benefits for businesses, as well as the nation as a whole.
Impact on recruitment
As a result of these chief concerns, it was found that two-thirds (66 per cent) of CEOs are planning to take on extra staff in the near future to gain access to expert knowledge and skills in a bid to increase their competitiveness, and improve their compliance and risk management.
The survey also led to the discovery that many chief executives are planning to overhaul their company culture in an attempt to attract the best quality candidates, alongside looking at their pay offerings and employee incentives.
Ian Powell, chairman and senior partner at PwC, commented: “It is encouraging that UK business leaders are holding their nerve against the uncertain global economic and geopolitical backdrop and planning to invest heavily in creating new jobs and their own people. This longer-term investment should position UK companies well in the future.”
With the UK government potentially set to look at the level of regulation facing the country’s CEOs and businesses changing the way that they use technology, cyber security and compliance professionals can expect to be in higher demand than ever before.
Our 2015 Mid-Year Report combines a review of the prevailing conditions in the security recruitment market with the results of a comprehensive compensation survey, covering both permanent and contract security practitioners.