This year’s global C-suite barometer indicates a business world optimistic for the future, confident about growth and ready to take on the challenges ahead. 94% of leaders have a positive outlook for growth, 89% anticipate increased revenue and 66% are increasing investments to support transformation and growth ambitions.
An optimistic outlook for growth
Investing in people means more now than a benefits package and generous salary. Competition for talent is set to continue and 76% of leaders globally are prioritising new or revised strategies that offer more learning, training and development opportunities to retain and attract the best people that will contribute to the long-term growth of their business.
For C-suite executives in the UK, 44% agreed that eliminating bias in the hiring process was the biggest challenge. However, attracting talent in the UK is perceived to be less difficult than it is globally.
The new ‘laws’ of talent attraction
Transformation in a digital world
Looking ahead, business transformation with technology is a key focus once again, topping the list of strategic priorities. Alongside this, leaders are focused on international expansion, sustainability and talent strategies.
Topping the C-suite agenda
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Building global ambition
C-suite barometer: outlook 2024
Confidence in tackling the challenges ahead
With insights from about 800 executives across 30 countries our latest C-suite barometer explores the strategic priorities on the C-suite’s agenda and the market trends they expect to impact businesses in the years ahead. Our latest study reveals that 2024 is set to be a bounce forward year: a year of increasing investments to transform businesses and support growth ambitions.
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While leaders seek to shape a positive future for their businesses, they can’t take their eye off the big external trends all organisations will need to navigate. The key trends identified by C-suite executives include:
UK
Energy prices:
Emergence of new technologies:
31%
56%
26%
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Mark Kennedy
Contact
Partner & Group Executive Board
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The rise in international growth
as a strategic priority
Businesses are approaching 2024 with international expansion front of mind. Leaders are seriously assessing opportunities to expand internationally and considering which regions of the world are most attractive for delivering their plans.
China, Germany and the US are the top destinations leaders are considering expanding into
emerge as the second and third top destinations for international expansion
France
and the UK
also features in the top five destinations businesses plan to expand in 2024
Canada
and Brazil
Data capture and quality
Sustainability responsibilities are rising as the business community continues to expand
around the globe and regulation becomes increasingly complex.
The biggest challenge to sustainability reporting for UK leaders, is two-fold.
Recognising greater sustainability commitments
50%
Understanding regulation
50%
UK businesses feel they are ready to manage these trends. Our Confidence Index shows an average of 42% feel “very confident”, up from 37% in 2023.
China, Germany and the US
Technology transformation remains the biggest priority for the coming 3-5 years.
32%
International expansion appears in the top 3 strategic priorities for the first time.
74%
New or revised sustainability strategies remain high on the agenda.
25%
Talent attraction and retention remains a key focus.
25%
Along with revenues, optimism and confidence, planned investment also rebounds this year, with our Investment Index (percent of businesses planning to increase investment, averaged across 24 activities) moving up to 66%.
Investing for growth
25%
80%
78%
Sustainability initiatives
Customer acquisition
Brand strategy
74%
Importance of generative
AI regulation
Ethical concerns about using generative AI
95%
Global
92%
UK
74%
Global
57%
UK
C-suite executives remain invested on the technological advances that will transform business opportunities and establish more robust operations.
UK C-suite executives express fewer ethical concerns over AI compared with the global view.
Top areas for increased investment in the UK
37%
33%
33%
94%
Positive outlook for growth Globally
98%
Positive outlook for growth in the UK
53%
Organic growth main driver of expansion
Globally
60%
Organic growth main driver of expansion
in the UK
Economic trends (including inflation and cost of living):
Global
UK
Global
UK
Global
Attracting the right talent
44%
Global
37%
UK
30%
Global
Eliminating bias
44%
UK
also features in the top five destinations businesses plan to expand in 2024
Canada
and Brazil
emerge as the second and third top destinations for international expansion
France
and the UK
China, Germany and the US are the top destinations leaders are considering expanding into
China, Germany and the US
Want to know more?
Mark Kennedy
Contact
Partner & Group Executive Board
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If you would like to discuss any of the findings from the report, please get in touch using the form below:
Deep dive into to the survey results and find out what they mean for UK businesses.
Discover the full global survey results
C-suite barometer:
Outlook 2024
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C-suite barometer 2024
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Businesses are approaching 2024 with international expansion front of mind. Leaders are seriously assessing opportunities to expand internationally and considering which regions of the world are most attractive for delivering their plans.
Talent attraction and retention remains a key focus.
25%
Reviewing supply chains, operations and processes is a top five priority globally but top three for the UK (28%)
23%
Talent attraction and retention remains a key focus.
25%
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C-Speak: News and insight for business leaders
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Inspired by Seaspeak – the official language of the seas that provides clear communication amongst ship captains – our C-speak podcast series brings together Forvis Mazars experts to discuss the big strategic challenges facing business leaders today.
The C-Speak Podcast
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Even in uncertain times, businesses are looking to grow their operations and open new markets abroad.Growing Global explores how companies can best understand, meet, and overcome the many challenges they face when it comes to global expansion.
Growing Global - Navigating global complexity. Delivering business certainty.
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