The Conference Board conducts an annual survey of world executive offices to ascertain business priorities and concerns. Nearly 750 CEOs and nearly 800 other C-Suite executives from mainly four regions: Europe, Latin America, Asia, and the United States participated in the 2020 Conference Board survey. As part of the survey, participants weighed in on which external and internal issues warrant the most immediate attention in 2020.
In 2020, the biggest external concern is a recession, while attracting and retaining talent ranks as their top internal concern. Executives in 2020 also feel unsettled by trade uncertainty, political instability, and more intense competition from disruptive technologies. However, they plan to counter such forces by developing more innovative cultures and new business models, according to the survey.
External Concerns in 2020
- US.: For U.S. CEOs, a recession rose from being their 3rd biggest concern in 2019 to their top one in 2020. The issue surpassed cybersecurity, their top concern in 2019
- Global: For the 2nd year in a row, CEOs and other C-Suite executives globally rank a recession as their top external worry in the year ahead.
- US.: It ranks as the 4th biggest worry of U.S. CEOs, tied with its affiliate issue: global political instability.
- Global: CEOs globally rank uncertainty about global trade as their 2nd biggest external worry in 2020.
- Competition intensifies as U.S. CEOs feel the heat. U.S.: For two years in a row, U.S. CEOs cite the issue as their 2nd top external worry.
- Global: For CEOs globally, fiercer competition rose from being their 4th top external worry in 2019 to their 3rd in 2020.
- Bigger budgets: More than 70% of responding CEOs globally plan to increase their cybersecurity budgets in 2020.
- Global: For 2020, CEOs globally ranked the impact of climate change on their business as 9th, up from 11th in 2019.
Internal Concerns in 2020
- Widespread agreement: Regardless of a company’s location or size, attracting and retaining top talent ranks as the number-one internal stressor for CEOs and other C-Suite executives globally in 2020.
- Developing innovative products and cultures are a key focus in 2020.
- Create new business models because of disruptive technologies: CEOs and other C-suite executives globally rank it their 2nd top internal priority
- Create a more innovative culture: CEOs and other C-Suite executives globally rank it their 3rd top internal priority.
- Global: CEOs and other C-Suite executives globally rank developing “next-gen” leaders as their 4th top internal priority.
- Women US: C-Suite executives more concerned about equal pay for equal work.
- Women: Globally, implementing equal pay for equal work ranked as their 6th top internal priority.
