Fears for the Year (CEO prep for 2022)

As we wrap up the year, 700 CEOs shared with me their top uncertainties about 2022. Do you share these doubts? 

• More Talent Wars: I heard this struggle become more common about 9 months ago. It's getting worse. The great COVID opened the gates. No longer is geography a barrier for your good people not to be captured by rivals. Remote work provides both opportunity and danger. Employee turnover has hit some industries catastrophically. Have you enhanced your culture, employee value, purpose (what we call Compelling Sagas in our retreats), to mitigate this talent exodus?
• Increasing Strategic Confusion: Who is our real customer now? How has supply chain shifts, competitor repositioning, reduced barriers to entry, talent wars, and new customer buying patterns affected your future growth and profits?  We're finding that the strategic plans you developed a few months ago are no longer sufficient. And is the strategic planning processes you've been using enough? This is not the time to be in denial. 
• Broken Supply Chains: Should we stop trying to be lean? Is Just-In-Time dead? My conversations with George Stalk (who launched time-based competition decades ago, and has a great article in HBR on disruption) opened my eyes to why we might be overreacting. More on my podcasts with him later. But for now, what is your supplier strategy for 2022? How will you stay lean yet be able to respond to future interruptions?
• Increasing Cultural Fragmentation: Remoteness has hurt integrated, consistent values and beliefs. But it doesn't need to. Are you using the tribal-grouping instincts of humans that have allow global armies and religious missions to remain consistent and strong? And are you leaders leading within the reality of the situation. I've been learning a lot from spending time with Cy Wakeman's Reality Based Leadership concepts (get the book). I'll podcast some of my sessions with her later. 
• Losing Passion for the Purpose. Yes, everyone's seen the books and TEDx talks on Purpose-driven organizations. But how many have it implemented? COVID has exposed weaknesses. Do you just have a Purpose statement or are your people willing to die for the cause? This is the most ancient executive question. Just having statements is not enough. 

So, your executive team challenge now to prepare for 2022 is one of strategy, NOT tactics! Resist denial, be bold, and lead. 

 

If helpful, we've complied the latest research into our executive team challenge program.