Talent a top operational priority
How CEOs support and attract talent is changing because of the challenging global economy and CEOs’ growth goals. The employee value proposition to attract and retain the necessary talent is tied as the top operational priority to achieving their 3-year growth objectives (25 percent, up from 19 percent in 2021). As well, two-thirds of CEOs (71 percent) agree the ability to retain talent with the pressures of inflation/rising cost of living are top of mind, as are the long-term impacts to organizations from the pandemic and geopolitical tensions.
A business’s ESG approach is increasingly seen as a differentiator when it comes to attracting and retaining talent. Of the CEOs that mentioned they were seeing significant demand for greater ESG transparency and reporting, 26 percent noted the biggest demand was coming from employees and new hires. They also note that one of the primary downsides to not meeting ESG expectations is recruitment challenges (22 percent), right behind the ability to raise financing.
Nicola Downing, CEO of Ricoh Europe, says having the right people with the best skills is integral to Ricoh’s vision and strategy for the future. “We have had an opportunity to really focus on our employees — to be more open and honest about subjects including mental health and wellbeing. We’ve invested in training our people, pushing for change and updating skills to match our new innovations, digital service portfolio and changing customer needs. We want our people to move with us. The skills our team needs today have seen a significant shift versus our original plans. That's because the challenges facing global business, and the pace of change and transformation, have rapidly increased.”