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The effects from a recent report from West Monroe published that 49% of C-suite executives consider the COVID-19 pandemic has had the largest have an effect on on their organizations — with the linked super Resignation and labor shortages coming in at an in depth 2nd — indicating that different issues in 2021 garnered much less consideration from pros.
This previous yr taught each person that the area remains perpetually evolving. The C-suite answered to the changing business landscape by tackling complications that were surprising even only a yr in the past. The Delta variant and COVID-19 had the greatest influence on company in 2021 in accordance with the professionals polled. one other 15% felt the pandemic's impact on personnel had the biggest affect on their corporation. West Coast respondents felt the pandemic's impact on employees the most (18%), while the Midwest location became the least fazed, with just 9% citing it as having the largest impact on enterprise.
Above: in line with C-Suite Executives surveyed in this autumn by way of West Monroe, the pandemic and its related results had the biggest influence on business in 2021, while every thing else was compelled to take a backseat.
graphic credit score: West Monroe
The superb Resignation, shortages, and scarcities accounted for 18% each and every. With the job market as scorching as ever, personnel began leaving their organizations en masse. execs were forced to get inventive and verify out new strategies to appoint and continue the ideal talent. increasing income, vicinity flexibility, and contingent skill have been the desirable tactics, according to the respondents. Unsurprisingly, CFOs were the most involved execs about shortages and scarcities (24%), followed with the aid of 22% of COOs.
All of this meant less time for executives to focal point on different pressing business considerations, together with investing in tech (4%), cyberattacks (3%), availability of the vaccine (3%), and ESG developments/activism, which wasn't in any respect a huge concern to the C-suite in comparison to different company issues in this fall.
The record is according to survey results from one hundred fifty C-degree executives with organizations of at least $250 million in annual income, amassed between September 17 to September 21, 2021.
study the entire document by West Monroe.
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