While CEO pay has skyrocketed this year, so has their anxiety about keeping their jobs—72% of CEOs fear losing their positions, according to a recent survey.
The AlixPartners 2022 Disruption Index, published by the global consulting firm, gathered data from 3,000 CEOs and executives worldwide—50% of whose companies had revenues exceeding $100 million—to determine their top business concerns right now, and the effects of various disruptions on their companies including supply-chain crises, worker shortages, and technology transformations hastened by the pandemic.
Around 57% of CEOs said they fear their company is not implementing changes fast enough to stay ahead of those challenges. And around 72% are anxious about their own job security as a result, a 20 percentage point jump from last year’s figures.
“CEOs need to have a new skill set and mindset to lead their companies through the continuous waves of disruption,” CEO of AlixPartners Simon Freakley said in a statement. “Today’s CEO must be in a constant state of growth and reinvention, showing the courage to make decisions based on imperfect information, pivot strategies based on new insights and market forces, and never stay hostage to tried-and-true, but rapidly fraying business models.”
Many companies were forced to shift their business models during the pandemic and operate remotely owing to health concerns. It follows, then, that one major area of concern for executives included adopting the digital tools necessary for a post-pandemic world, according to the survey.
Around 78% of CEOs believe the adoption of digital tools is integral to the continued survival of their businesses, but 46% cite poor execution of the technology in which they have invested as their top challenge. “Digital capability will soon underpin every successful company everywhere,” AlixPartners wrote. “Not something that exists in a single department or outside of the core organization, but rather the lifeblood of the organization—and everyone’s responsibility.”
Never miss a story: Follow your favorite topics and authors to get a personalized email with the journalism that matters most to you.
