London, August 26 (HNA) – The CEOs of major companies, expect their organization’s growth to be strong over the next 12 months, according to the Summer 2021 Fortune/Deloitte CEO Survey.
In January, CEOs described 2021 as the year of hope. Six months later, the latest results from the Summer 2021 Fortune/Deloitte CEO Survey appear to show that their hope has evolved into bold plans for growth, innovation, digital transformation, and workforce and talent transformation, as well as persistent attention to the climate agenda, continued progress on DEI, and elevated concern for cybersecurity and all things talent.
In the latest Fortune/Deloitte CEO Survey, 110 leading CEOs representing more than 15 industries shared a perspective on the new shape of a CEO agenda that may lead organizations out of the pandemic.
“CEOs are optimistic about the year ahead, expecting strong growth fueled by innovation and pent-up consumer demand. Key to achieving their growth goals will be an intense focus on sustaining the momentum of their digital transformations, as well as optimizing new workplace models to attract and retain a world-class workforce. All things tech and talent will dominate the CEO agenda throughout 2021 and beyond” said Joe Ucuzoglu, Chief Executive Officer, Deloitte US.
While CEOs may be divided on the duration of pandemic business effects more generally, their bullish outlook on the future of their own organizations is remarkably in sync. Seventy-seven percent of CEOs say they expect their organization’s growth to be strong over the next 12 months. About a third say “very strong,” about half say “strong,” and about a quarter expect only “modest” growth. Notably, no CEOs are expecting anything less (“weak” or “very weak”).
CEOs’ expectations for growth are consistent with their past expectations, as indicated in January 2021, when seven of 10 CEOs stated that their revenues and employees never declined, already recovered, or would recover to precrisis levels by June 2021.
What do CEOs expect to fuel their organizations’ business success over the next 12 months? When asked to pick their top three drivers, more than half of CEO respondents give roughly equal credit to innovation or new products and to the application of technology (such as digital transformation or artificial intelligence (AI)).
Just shy of 40 percent expect accelerated or pent-up consumer demand to drive business success this year, and one in three CEOs expect to reap the benefits of increased operational efficiencies (e.g., hybrid workforce). Fewer than 20 percent expect business success to come from M&A, price increases, increases in public spending, or geographic expansion.