“We have to think differently about how we serve the young talent [and] what type of opportunities, networking and type of culture you need to develop as a company.”
“I think it’s very clear that to be able to be successful in the future…the globalisation of the economy will mean that our workforce will be much more diverse.”
18th Annual Global CEO Survey
Businesses and their leaders face some pressing questions about their future talent pipelines and human capital strategy. Global megatrends are changing the talent landscape at the same time that the global economy regains its confidence and looks towards growth.
The energy sector is radically transforming, with technology playing a big role. Energy CEOs are seeing new consumer demand patterns around the world, and focusing on building trust with stakeholders. And they’re worried about how government actions will impact their business.
CEOs are also concerned about developing a workforce that can cope with a changing world. Talent is one of the main engines of business growth. So one of the biggest issues CEOs face, as these huge demographic changes occur, is finding and securing the workforce of tomorrow – particularly the skilled labour they need to take their organisations forward.
72% of energy CEOs say they are looking for a much broader range of skills than in the past. To achieve this, talent strategy is shifting, with the majority of CEOs saying their company now has a diversity and inclusion strategy. Despite this, the energy sector is lagging compared to overall activity, with almost a quarter of CEOs reporting they do not have a diversity strategy in place nor do they plan to adopt one. For companies with a strategy in place this has not only enhanced business performance according to 90% of CEOs but it has also been credited with attracting talent and strengthening company brand and reputation.
The survey reveals that confidence is improving among business leaders worldwide and their agenda is switching from the survival mode of recent years to revival and optimism about growth prospects. The good news is that this turnaround in sentiment is more evident than ever in the UK.
We surveyed 1,322 business leaders across 77 countries around the world, in the last quarter of 2015, and conducted further in-depth interviews with 34 CEOs. Their thoughts on the talent issues impacting their businesses are reflected in the quotes throughout our report.