Leading a company comes with significant opportunities and significant challenges alike. While this is true in any climate, it’s especially relevant amid an uncertain economy and ongoing shifts in the way we work, and today’s CEOs are always learning how to best navigate a rapidly evolving business landscape.
When executives need support, they often turn to their coaches for guidance. Below, 16 members of Forbes Coaches Council share what they believe their executive clients’ most common concerns will be in 2023 and explore the best ways for leaders to approach these issues.
Members pictured left to right.
Photos courtesy of the individual members.1. Fighting Against Inflation
Customer retention has always been the utmost priority. However, organizations are no longer solely combating competition; they are fighting against inflation and its impact on cash flow, as well as how that impacts customers’ strategic spending decisions. CEOs are also increasingly aware of the elements of the general dissatisfaction sweeping the labor force post-pandemic: burnout, opportunity for advancement and working conditions. - Stefanie Ricchio, SRBC Inc.
2. Meeting Current Company Goals
CEOs are concerned about meeting their current goals this year. The pendulum has literally swung from one side (where employees were in control) to the other (where the employer is back in control), and with that comes the unease of not knowing if you have the right people to reach your goals. One way to mitigate this is to find easy ways to still empower, inspire and motivate your current workforce. - Nishika de Rosairo, HumanQ Inc
3. Taking Action Amid Economic Uncertainty
It won’t come as a surprise to anyone that CEOs are concerned about economic uncertainty, yet I’m surprised by how the uncertainty is stalling decision-making, as leaders are waiting to see what happens before acting. CEOs know how an economic downturn will impact their business, and my advice to them is to start acting and making decisions now with the information they have in front of them. - Robin Pou, The Confident Leader
4. Managing Changing Business Models
Managing changing business models—not just in terms of how they do business but also in terms of how the world (clients, investors, employees, prospects) perceives their business—is important for CEOs now. The best way to approach this is to think out of the box and listen to what all the stakeholders have to say. These would be the most actionable points to start with to handle these changes. - Shruti Parashar, GOALisB
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5. Creating Remote Cultures
CEOs of remote teams are concerned about delivering on the promise to create a culture that fosters inclusion and belonging. While “remote” means “working away from a usual workplace,” it can also mean “aloof” or “disconnected.” Hold quarterly retreats to build esprit de corps in real life. Set aside time to talk not only about the “what” (what you’re working on) but also the “how” (how you work together). - Jennifer Zaslow, Clear Path Executive Coaching
6. Bolstering Resilience And Adaptability
A key concern for the CEOs I work with is increasing the resilience and adaptability of their teams when confronted with our brittle and confusing world. One way to achieve this is by strengthening relationships on the team and between the team members and their ecosystem, introducing collaborative models (versus competitive ones that create silos) and catalyzing a shift from reactive to creative leadership. - Alessandra Marazzi, Alessandra Marazzi GmbH
7. Growing A Team During A Market Downturn
The main concern for CEOs this year is the team. The global “great resignation” took not just a lot of talent, but also the best. So, the question on every smart CEO’s mind is: “How do we build a team that is resilient, and how do we grow it when the market is in a downturn?” The best approach: utilizing non-traditional incentives, making the recruitment process smart and short, and applying diversity principles to hiring. - Alla Adam, Alla Adam Coaching
8. Transforming Personally To Meet Changing Demands
Businesses see the need to transform to meet the demands of a rapidly changing world. To do so, executives have reported the need to transform on a personal level to meet those demands. Adapting to thinking in new ways, not knowing but learning and creating scenarios, implementing digitization, managing new generations at work, awakening curiosity and developing a growth mindset are just some of the items on the agenda. - Olga Kiendler, OK Transformation
9. Leading Mindfully
One thing many CEOs are concerned about this year is the ability to lead through uncertainty with mindfulness. Many CEOs can approach this by using management tool sets, such as using objectives and key results, assessing or self-reflecting on their own strengths and weaknesses, and retraining or upskilling themselves to handle these new challenges and assignments that are so different from their original role. - Dr. Wasit Prombutr, Life Alignmentor
10. Supporting Employees And Minimizing Burnout
I continue to see concern around burnout levels and overwhelmed workers. Longer hours, uncertainty around business goals and macro recession concerns are weighing heavily on CEOs’ minds. If leaders can approach the issue from a new paradigm around managing energy instead of time, they can support employees with new practices to sustain their performance and improve focus while minimizing burnout. - Andrew Deutscher, Regenerate
11. Ensuring Operational Efficiency And Effectiveness
Corporate leaders are concerned about the efficiency and effectiveness of their organizations’ operations. If demand for their product or service is changing, how should the size and shape of the organization transform itself to function within the new environment? When a large change is on the horizon, the best option, always, is to design a new target operating model. - Peter Brodie, The Orgworks
12. Retaining Top Performers
Even with the projected recession, employee retention—and specifically retention of top performers—is a top issue for CEOs in 2023. Organizational leaders, top to bottom, need to be highly effective at relationship building and staying connected with the health of the culture so that employees feel a true sense of ownership and engagement. - David Liddell, Liddell Consulting Group LLC
13. Anticipating Potential Disruptions
The massive disruptions of the past three years have CEOs wondering what to expect next and how to lead through seasons of uncertainty and unpredictability. Planning on the assumption of only one possible scenario will not suffice anymore. Conducting scenario planning exercises will help them anticipate potential disruptions and to spot potential opportunities to create value. - Sam Adeyemi, Sam Adeyemi GLC Inc.
14. Finding Talent And Raising Funding
Two things concern my clients, who are mostly founders of venture-funded startups. Finding talent has been difficult and has stalled growth for a number of my client companies. Several of them are hoping that mass layoffs among the MAANG (Meta, Amazon, Apple, Netflix, Google) companies will help. The other big concern is whether they will be able to raise their next round of funding. Therefore, they are focusing on growing revenue and customers. - Amie Devero, Beyond Better Strategy and Coaching
15. Attracting, Retaining And Inspiring Talent
Attracting, retaining and inspiring talent remain top-of-mind concerns for my clients. If a recession materializes in 2023, be intentional about talent strategies. How you treat people during tough times will be a signal to them and to the marketplace of your true commitment. Don’t let up on engaging, inspiring and developing your most precious resources. Prioritize people, and the profits will come. - Juliette Mayers, Inspiration Zone LLC
16. Muscling Up On Resilience
With the continuance of crises and inflation impacting businesses, CEOs have been muscling up on resilience by building strong and agile work cultures and teams, aligning systems and processes, and designing and implementing effective talent management strategies. These actions optimize and streamline employee talent to execute on company goals that obtain collective results and maximize excellence. - Lori Harris, Harris Whitesell Consulting
