As CEOs head into 2021, following layoffs and the sudden shift to remote work, they are faced with new teams and unprecedented challenges. The 2021 CEO Benchmarking Report by The Predictive Index—the talent optimization leader—digs deep into these issues, revealing a common thread: Executive and critical teams are struggling to get along remotely and deliver on strategy.
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CEOs’ #1 Challenge is Helping Their Remote Teams Work Well Together So They Can Focus on Strategy, According to the 2021 CEO Benchmarking Report by @predictiveindex #talentoptimization
“With 2020 nearly in the rearview mirror, CEOs are focused on the future,” said Mike Zani, CEO of The Predictive Index. “Despite the interpersonal disconnect many teams are facing, the majority of CEOs are committed to making remote work a success. Talent optimization allows these CEOs to better understand themselves, their teams, and their strategy—so they can build dream teams with confidence and get the work done.”
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Key findings from the report:
● CEOs are leading brand-new teams: Nearly 70% of companies suffered layoffs or furloughs since March 2020—resulting in new teams and new team challenges.
● Remote work is a CEO’s #1 challenge, yet here to stay: A staggering 76% of CEOs say they plan to allow remote work full-time for all or most employees moving forward. Yet 51% of CEOs admit their top challenge is working well remotely.
● CEOs are tied up with people issues: Remote work is amplifying the lack of team cohesion, with 58% of CEOs admitting they mediate interpersonal conflict at least monthly.
● Strategy is top of mind in 2021: Most CEOs overhauled their business strategy in 2020, and 53% say strategy development is their #1 priority moving forward.
● CEOs need help with talent optimization: 91% of CEOs said they needed outside help with both business and talent strategies in the past six months.