Powerful CEOs care about their job security as much as the rest of us – in fact, maybe even more.
The big picture: 72% of CEOs fear losing their jobs due to the disruption facing their industry, according to a new report released today by the global consulting firm. Alix Partners.
- The plot: That figure jumped 20 percentage points from just a year ago, when 52% of CEOs told AlixPartners they were worried about job security.
Why is this important: The frantic pace of change in businesses and the world has accelerated since the onset of the pandemic, leading to increased anxiety among CEOs.
- Concrete example : 94% of executives say their business models need to change in the next three years, but 57% fear their business is not adapting quickly enough.
“A CEO job is stressful at the best of times … These statistics are indicative of the pressure senior executives feel to move, and move quickly, to be nimble to look to new strategies, ”Simon Freakley, CEO of AlixPartners, told Axios.
Inventory: This year, reshaping the global supply chains of today and tomorrow, and reinventing recruiting and retention as skill needs change rapidly, were at the heart of CEOs’ concerns.
- That’s when digital transformation reshapes the workflow for businesses – and even disruptors are disrupted, Freakley says.
The bottom line: No need to pity CEOs – they’re paid hundreds of times the average workers’ salary for worrying more than the rest of us. But it’s a sign of today’s increasingly complex business landscape that CEO anxiety is on the rise.