• Tenth anniversary of the KPMG CEO Outlook shows that despite CEO confidence in the growth prospects of the economy declining since 2015, 72 percent of CEOs remain confident.
• Ninety-two percent of CEOs are looking to increase the overall headcount of their workforce – the highest since 2020.
• AI remains the top investment priority for most CEOs (64 percent), with a significant majority (76 percent) believing that it will not fundamentally impact job numbers.
• Threats to growth have also shifted, with supply chain challenges and operational issues pushing ahead of cyber security and last year's number one threat – geopolitics and political uncertainty.
• Three quarters (76 percent) of CEOs said they would be willing to divest a profitable part of the business that was damaging reputation.
• Eighty-three percent of leaders now predict a full 'return to office' in three years' time, up from 64 percent in 2023

HONG KONG SAR - Media OutReach Newswire - 30 September 2024 – From the race to embrace artificial intelligence (AI) to ever-mounting geopolitical concerns, the challenges faced by the CEOs of today are vast and complex. Alongside these external pressures, internal challenges such as upskilling the workforce and hybrid working are pushing CEOs to be agile and adaptable in their stakeholder management while also keeping an eye on long-term growth. First launched globally 10 years ago, the KPMG CEO Outlook surveys more than 1,300 global business leaders overseeing companies with revenues of at least US$500M from some of the world's biggest economies and key industries. The last 10 years have been defined by volatility, ranging from the economic and social shockwaves of the COVID-19 pandemic to the resurgence of inflation and geopolitical tensions. In the face of this, leaders have had to adapt to an unprecedented array of challenges that have not only placed greater pressure on CEOs' shoulders but driven a waning of confidence in the global economy. Yet, global leaders remain resilient, leading their businesses on a path to sustainable growth. Global leaders continue to create a solid foundation by betting big on AI and bolstering their workforce to adapt to evolving business needs. This year's survey shows that CEOs are optimistic about their organization's future, with 92 percent of leaders looking to increase the overall headcount of their workforce, but also recognizing they need to future proof the skillsets of their people and demonstrate increased employee value proposition to attract and retain talent. Balancing ambition and appropriate caution will be key when it comes to ESG issues if CEOs want to avoid stakeholder criticism and, more importantly, do the right thing. Bill Thomas, Global CEO & Chairman, KPMG International, said: "The last ten years has been framed by a backdrop of volatility and change, from a global pandemic to surging inflation and the rise of AI. In the face of such pressures, CEOs are steadfast about the need to invest in the future. Turbulence calls for leaders to be more resilient, agile and innovative than ever before. As we look ahead to the next ten years, CEOs who set bold strategies to adapt to our fast-changing world and invest in the right technologies and talent to make their plans a reality, can deliver sustainable, long-term growth." Economic outlook: Business growth challenged by the pace of technology Over the past decade, the confidence of CEOs in the global economy has waned, reflecting the growing complexities of the environment they face. While confidence has remained relatively stable over the past three years, with 72 percent of CEOs optimistic about the economy, this marks a significant shift from the robust 93 percent seen in 2015 when the survey first launched. The growing complexity and variety of demands of leading a large organization are being felt keenly by CEOs, with almost three quarters (72 percent) confessing they feel under more pressure to ensure the long-term prosperity of their business. This additional pressure felt by CEOs could be attributed to an evolving list of threats to business growth with this year's survey showing that CEOs are the most concerned about the impact of supply chain disruption, and operational issues on their business' growth in the next three years, coming in above cyber security and even last year's number one threat – geopolitics and political uncertainty. Ten years of survey data demonstrates how leaders have sought to create confidence in business growth, from increased investment in innovation and tech, to placing a fresh focus on the employee value proposition and renewing their commitment to ESG and sustainability as a source of value creation. Looking more closely at the next three years, respondents identified their top operational priorities as advancing digitization and connectivity across their business (18 percent), understanding and...