This time, we share the most important conclusions from KPMG International’s “2020 Global CEO Outlook Covid Special Edition” survey for inspiration. KPMG International has asked hundreds of CEOs of the world’s largest organizations about how they manage this Covid ‘once-in-a-generation’-crisis, about their perspectives and their renewed prioritization.
We wish you great inspiration and reading pleasure.
And of course, do you also wish to lead your organization with an increased purpose and impact, both socially and economically? With exceptional agility, while strengthening your effectiveness? Then please contact us.
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EFFECTIVE, NEW LEADERSHIP!
The Covid-19 crisis places new demands on leadership. Requirements that few people could have predicted before. Because the pandemic affects every person, every organization and every country and each at a different stage. Uncertainty is the only certainty for many.
KPMG International’s survey of hundreds of CEOs of the world’s largest organizations shows that corporate leaders worldwide, in addition to keeping their employees and loved ones safe, are acting significantly and decisively on three main themes in their organizations: Purpose, Priorities & Prosperity. We will each briefly explain these below.
Purpose
In addition to keeping their employees and loved ones safe, CEOs are more focused than ever on creating a trusted, goal-oriented organization that can successfully address critical societal challenges. As many as 79% say they feel more emotionally connected to the purpose of their organization since Covid-19. Purpose has thus clearly become a significantly stronger and more relevant driver.
Priorities
CEOs are fully committed to attracting capabilities critical to successfully positioning their organizations in the post-Covid-19 era. Three pillars can be identified here:
- Future of work. 77% of the CEOs interviewed say they will continue to build on the digital collaboration and communication tools implemented during the crisis. Furthermore, 73% believe that remote work has significantly broadened the reach of their talent pool.
- ESG. 71% Said they would like to invest in structural ESG integration in the field of environment, society and corporate governance (ESG = Environmental, Social & Governance).With 65% saying they expect the extent to which they will be successful in managing climate-related risks to largely determine whether they will be able to keep their jobs for the next five years.
- Customer-centric supply chain. In order to deliver exceptional agility with the right impact in response to significantly changing customer needs, 67% of all respondents say they need to rethink their global supply chain approach.
Prosperity
In addition to crisis response, CEOs mainly focus on positioning their organizations for sustainable growth and prosperity in the post-Covid-19 era. 80% Of the interviewees indicate that they have accelerated the pace of digital transformation, organizatin-wide. Of these 80%, 30% say that this acceleration has taken them years further than where they normally expected to be at this time. Furthermore, the CEOs cite talent risk as the number one threat to sustainable organizational growth.
Final conclusion
In a time of great uncertainty, CEOs are faced with making important decisions with long-term consequences. While they must do their utmost to protect their people, they face tremendous economic pressures that could threaten the future of their business. And at a time when the movement of goods and people is limited, they need to rethink their entire supply chain approach. Research – as well as discussions with leading chief executives – shows that they use ‘purpose’ as the basis for their decisions. In the midst of both an economic and humanitarian crisis, CEOs put people first: their employees, their customers and society as a whole. In short, the Covid-19 crisis is effectively redefining new leadership.
And of course…
Should you also wish to use this period to sustain your leadership with an increased purpose and impact, both socially and economically? With exceptional agility, where you significantly strengthen your effectiveness as a leader? Do not hesitate to contact us.
It will be our pleasure to find the right, next-level top personal assistant who will enable this for you and your organization.
“Effective, new leadership!”. Source: “2020 Global CEO Outlook Covid Special Edition” by KPMG International. Please download the full report here.
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