CEO Stories with Tom Stewart, AchieveNEXT

HIGH HOPES

CFOs and CHROs expressed strong optimism about 2022 – and this was after a better-than-expected 2021. More than three-quarters of participants – 77 percent – anticipated that 2022 would be “much better” or “better” than last year. And 75 percent of those surveyed said 2021 was a strong year for them. Stewart said the results make sense for two reasons: 2021 saw companies more adept at dealing with challenges posed by COVID, and middle-market companies tend to underpromise and overdeliver.

PEOPLE FIRST

It’s common for companies to say that their people are their greatest asset. And while that’s still true, people represent the biggest threat to a company’s ability to execute strategic plans. In roundtables across the country in the first quarter of the year, companies said that both retaining and attracting talent remains challenging. Everyone is competing for talent; and big companies can often pay more. Smaller companies need to emphasize that their size can make them more attractive to employers because they are less bureaucratic.

SUPPLY CHAIN AND COSTS

Talent is also an issue vis-à-vis supply chain and costs, the other top concerns for companies. While companies can be proactive in dealing with talent – being more aggressive in recruiting, making sure they are getting value for what they are paying talent – they have less control overall with supply chain and talent.