Report: 49% of C-suite execs consider COVID-19 had the most important influence on their enterprise

The outcomes from a current report from West Monroe revealed that 49% of C-suite executives consider the COVID-19 pandemic has had the most important influence on their companies — with the associated Nice Resignation and labor shortages coming in at a detailed second — indicating that different points in 2021 garnered much less consideration from execs.

This previous 12 months taught everybody that the world remains to be always evolving. The C-suite responded to the altering enterprise panorama by tackling issues that have been sudden even only a 12 months in the past. The Delta variant and COVID-19 had the most important influence on enterprise in 2021 in line with the execs polled. One other 15% felt the pandemic’s impact on workers had the most important influence on their group. West Coast respondents felt the pandemic’s impact on workers probably the most (18%), whereas the Midwest area was the least fazed, with simply 9% citing it as having the most important influence on enterprise.

Above: In accordance with C-Suite Executives surveyed in This fall by West Monroe, the pandemic and its associated results had the most important influence on enterprise in 2021, whereas every thing else was pressured to take a backseat.

Picture Credit score: West Monroe

The Nice Resignation, shortages, and scarcities accounted for 18% every. With the job market as scorching as ever, workers started leaving their corporations en masse. Execs have been pressured to get artistic and check out new methods to rent and retain one of the best expertise. Rising wage, location flexibility, and contingent expertise have been the highest approaches, in line with the respondents. Unsurprisingly, CFOs have been probably the most involved execs about shortages and scarcities (24%), adopted by 22% of COOs.

All of this meant much less time for executives to give attention to different urgent enterprise points, together with investing in tech (4%), cyberattacks (3%), availability of the vaccine (3%), and ESG tendencies/activism, which wasn’t in any respect a big concern to the C-suite in comparison with different enterprise points in This fall.

The report is predicated on survey outcomes from 150 C-level executives with corporations of a minimum of $250 million in annual income, collected between September 17 to September 21, 2021.

Learn the full report by West Monroe.