Report: 49% of C-suite execs believe COVID-19 had the largest impact on their business

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The results of a recent report by West Monroe show that 49% of C-Suite executives believe that the Covid-19 epidemic has had the greatest impact on their businesses – with the relevant great resignation and labor shortages approaching the second – indicating that in 2021 other issues executives Got less attention.

This past year taught everyone that the world is still constantly evolving. Sea-Suite responded to the changing business landscape by facing unforeseen problems even a year ago. The Delta variant and Covid-19 had the biggest impact on business in 2021. Another 15% felt that the impact of the epidemic on employees was the greatest impact on their organization. The West Coast experienced the greatest impact of the epidemic on workers (18%), while the Midwest region was the least numb, with only 9% citing it as being on business.

Pie graph.  Title: Lookback on the biggest impact of 2021 on business.  15% said the impact of the epidemic on employees.  34% said Delta variant and / or COVID-19.  18% said great resignation.  18% said there is scarcity and scarcity.  Caption: The epidemic was still rampant in 2021, when everything else was left behind.

Above: According to C-Suite executives surveyed by West Monroe in Q4, the epidemic and its related effects had the biggest impact on business in 2021, when all other factors were forced to fall behind.

Image Credit: West Monroe

Great resignation, scarcity and scarcity are 18% in each. As the job market warmed up as usual, employees began leaving their companies altogether. Executives were forced to test new strategies to be creative and to hire and retain the best talent. Salary increases according to flexibility, location flexibility and contingency talent were the top approaches. Surprisingly, CFOs were the officers most concerned about scarcity and scarcity (24%), followed by 22% COO.

All of this meant less time for executives to focus on other pressing business issues, including tech (4%), cybertax (3%), vaccine availability (3%), and investing in ESG trends / activism, which was not. Big concern for C-Suite compared to other business issues in Q4.

The report is based on the results of a survey of 150 C-level executives with companies with at least $ 250 million in annual revenue collected between September 17 and September 21, 2021.

Read the full report by West Monroe.

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