Increased inflation and decreased purchasing power, macroeconomic instability and geopolitical conflicts is starting to create worries to the business leaders in both Sweden and globally. PwC's annual CEO statistics, CEO Survey 2023, show how the uncertain economic situation affects CEO's faith in the future.

The company leaders see several challenges for increased profitability and many have already implemented measurements such as reducing operating costs, raising prices and diversifying products and services. With 40% of the CEO's, the report shows that the leaders believe their business will only be profitable for a maximum of ten years with their current focus – and many see that they aren´t investing enough to make a change.

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The two biggest areas, who will affect profitability over the next ten years, is changed customer requirements and consumption patterns as well as lack of skills and labor. There is a specific focus on facing the challenges of automation, new technology and skills development. But as the report argues, it’s no longer enough for companies to simply deliver short-term financial results. They are expected to contribute to sustainable solutions to the major societal issues.

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Because of this, the transition is also a cultural change. In order to develop new financial values for customers and consumers, companies need to be able to collaborate with external parties to a greater extent. Cross-border collaborations are also a prerequisite for successfully solving societal challenges that are too complex to solve on your own. To constantly be innovative in a developing world, the organizations also need to build greater resilience internally – both through a climate that allows employees to try new things and make mistakes, and through an open climate where more perspectives are accommodated. The key to a good working climate and successful collaborations is building trust.

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To build good relationships and trust, we know that employer branding and a united employer communication is crucial. Employer branding makes it easier to create engaging internal communication that involve all employees in the company’s strategy and development. An employer brand can also profile the company in important responsibility issues such as diversity and inclusion. When customers’ demands and consumption patterns change, the different perspectives become even more important to capture. After all, employees are also consumers.

When it comes to labor and skills shortages, employer branding can help advertise the company as an employer throughout the employee journey – from attracting, recruiting, onboarding, engaging and exiting – to becoming talent’s first choice.

Do you want help to find out how employer branding can facilitate your transition? Get in touch with us at Keeparo.

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About the report:

In the CEO Survey 2023, 4 410 business leaders from 105 countries were asked about their view of the current situation and the future. 71 Swedish CEOs participated in the survey, which was conducted during October and November 2022.