50 South African CEOs share their perspectives on the unprecedented change forecast for their companies and the world economy.
The next 3 years
* 56% of CEOs believe the next 3 years will be more critical for their industry than the previous 50.
* 70% of CEOs are concerned about the number of mission-critical issues they need to tackle with no prior experience.
* 78% of CEOs agree that their customers may be more concerned about their privacy than their organisations are.
* 86% are concerned that new entrants are disrupting their business models and more than two-thirds (78%) of CEOs believe that their company is not disrupting their industry’s business models enough.
The complexity of the issues and the need for rapid response is putting significant pressure on CEOs.
94% concerned about the loyalty of their customers.
92% concerned about the impact of the global economy on their company if global economic growth is less than they project.
96% are concerned about whether their organisation is staying on top of what's next in services/products.
* 48% of CEOs said their company will be significantly transformed in the next 3 years.
* One of the top three priorities of CEOs over the next 3 years is fostering innovation and 32% are concerned whether their organisation is responding effectively to regulatory change.
* CEOs said technology was the biggest factor contributing to company growth; global economic factors took second place.
* CEOs are concerned about their organizations keeping current with new technologies.
* All CEOs are expecting to increase headcount over the next 3 years, with 92% planning to do so over 12 months.
Managing the gap
*The majority of CEOs reported that they will manage the skills gap in the next 3 years by investing in training, outsourcing and strategic acquisitions in key areas.
Despite the changes enveloping their organizations, CEOs are largely confident in their 3-year growth outlook.
92% of CEOs are confident in growth for their company over the next 3 years.
90% confident in their country's growth prospects.
86% confident in their industry's growth prospects.
74% confident in the growth of the global economy.
For CEOs, it's now or never. *
* "CEOs tell me that the game is changing dramatically, but we know what we need to do, and we're confident that we can come out winners." John Veihmeyer, Chairman, KPMG International.