Global CEOs shift focus: Only 4% prioritise full-time office return, talent attraction take centre stage
"CEOs have thrown up their hands when it comes to getting workers back into the office full time. Just 4% of US CEOs say they will prioritise a full-time return to the office," The Conference Board said in a recent study.
FollowA recent survey conducted by The Conference Board sheds light on the evolving priorities of chief executive officers (CEOs) globally, revealing a notable shift in their approach to workplace dynamics. The study, encompassing insights from 1,200 executives across the US, Latin America, Japan, and Europe, indicates that CEOs are moving away from prioritising a full-time return to the office and instead focusing on attracting and retaining talent as their top internal priority.
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The findings reveal that a mere 4% of US CEOs and 4% of CEOs worldwide are actively prioritising a full-time return to the office. "CEOs have thrown up their hands when it comes to getting workers back into the office full time. Just 4% of US CEOs say they will prioritise a full-time return to the office. Consistent with past surveys, attracting and retaining talent remains the number-one internal focus for CEOs globally," the think tank said.
Diana Scott, the US Human Capital Centre Leader at The Conference Board, suggests that CEOs might be recognizing the need to let go of the push for full-time office attendance due to the myriad of other pressing issues they face. Scott observes that while some companies have taken a hardline stance in calling employees back to the office, these instances are viewed as anomalies, and the broader consensus leans toward embracing hybrid work as a permanent fixture.
Despite variations in specific company policies, the study asserts that hybrid work is now firmly established, representing a significant departure from the previous focus on full-time office presence. Scott notes that senior members of companies are increasingly spending more time in the office, indicating a nuanced approach to workplace flexibility.
The survey also delves into CEOs' concerns about economic factors, revealing that recession and inflation top their worries for the year ahead. However, the study points out that only 37% of US CEOs feel adequately prepared for a potential recession, and 34% are ready for the challenges posed by high inflation.
Interestingly, geopolitical risks are also on CEOs' radars, with concerns about conflicts in the Middle East and Ukraine. Notably, for US CEOs, the most significant geopolitical threat lies closer to home – the growing national debt takes precedence as their top concern for 2024.
As CEOs navigate a landscape marked by economic uncertainties and changing work norms, the study suggests that the focus on talent attraction and retention reflects a broader acknowledgment of the evolving nature of work and the need for adaptable strategies in the face of multifaceted challenges.
