Hear from CIOs, CTOs, and other C-level and senior execs on info and AI methods at the Upcoming of Perform Summit this January 12, 2022. Study far more
The benefits from a recent report from West Monroe revealed that 49% of C-suite executives imagine the COVID-19 pandemic has had the biggest impact on their businesses — with the linked Terrific Resignation and labor shortages coming in at a near second — indicating that other difficulties in 2021 garnered less interest from execs.
This earlier 12 months taught anyone that the environment is continue to frequently evolving. The C-suite responded to the altering organization landscape by tackling complications that were being unexpected even just a year in the past. The Delta variant and COVID-19 experienced the premier impression on company in 2021 according to the execs polled. One more 15% felt the pandemic’s impact on staff members experienced the biggest impact on their group. West Coast respondents felt the pandemic’s result on personnel the most (18%), while the Midwest region was the least fazed, with just 9% citing it as possessing the greatest impact on enterprise.

Over: In accordance to C-Suite Executives surveyed in Q4 by West Monroe, the pandemic and its linked outcomes had the biggest effects on business in 2021, though almost everything else was pressured to get a backseat.
Picture Credit history: West Monroe
The Great Resignation, shortages, and scarcities accounted for 18% each and every. With the work market as very hot as at any time, workforce began leaving their corporations en masse. Execs have been pressured to get imaginative and exam out new procedures to employ the service of and keep the best talent. Increasing wage, site adaptability, and contingent expertise had been the leading ways, in accordance to the respondents. Unsurprisingly, CFOs ended up the most concerned execs about shortages and scarcities (24%), followed by 22% of COOs.
All of this intended a lot less time for executives to focus on other pressing enterprise issues, such as investing in tech (4%), cyberattacks (3%), availability of the vaccine (3%), and ESG traits/activism, which was not at all a huge worry to the C-suite as opposed to other organization concerns in Q4.
The report is dependent on survey effects from 150 C-level executives with firms of at the very least $250 million in annual revenue, collected among September 17 to September 21, 2021.
Study the entire report by West Monroe.
VentureBeat
VentureBeat’s mission is to be a digital town square for technical decision-makers to acquire information about transformative technological know-how and transact.
Our web page delivers vital information and facts on data systems and approaches to information you as you direct your organizations. We invite you to turn out to be a member of our local community, to entry:
- up-to-day info on the subjects of curiosity to you
- our newsletters
- gated considered-chief information and discounted accessibility to our prized gatherings, these kinds of as Renovate 2021: Discover Much more
- networking attributes, and far more
You may also like
-
Latino entrepreneurs wanting to Smaller Business Administration for cash
-
Why CVS, Walgreens and Ceremony Assist are closing 1000’s of shops
-
Wichita business dealing with ‘heartbreaking’ losses in less than 24 hours
-
Business Leaders Push Back on Schools and Conferences Over Israel
-
City responds to Uptown business owner’s problems in excess of encampment