Anxiety stems from major disruptions facing leadership this year
Employees aren't the only ones on edge about losing their jobs - CEOs are quite nervous too.
A new survey by AlixPartners among over 3,000 CEOs and senior executives across the world revealed that 59% of CEOs are worried about losing their jobs due to disruption.
"When it comes to addressing disruption, CEOs are as hard on themselves as they are on the people who work for them," the report said. "They are twice as likely to fear for their jobs, and more than twice as likely to say they are falling behind in knowledge and skills."
The report found that approximately 30% of CEOs are more anxious in their roles over a year ago, as 65% reported a high level of disruption in their company over the past year.
The findings come as employees across the world also enter 2024 with fears of losing their jobs, following widespread layoffs over the past years.
Major anxieties by leadership
The anxieties felt by leadership stems from their concerns over disruptions that are out of their control, according to the report.
This includes impact from the macro environment, such as inflation and interest rates, as well as ongoing geopolitical tensions across the world.
"CEOs largely navigated 2023's bumpy road of disruptions successfully, but the way forward looks to be every bit as rugged and with more hidden curves, demanding even greater agility, acceleration, and speed," said Simon Freakley, CEO of AlixPartners, in a statement.
The report also found that more than half of CEOs (58%) feel pressured to take a stand on environment issues from their employees and team members.
This pressure is also coming from different directions, including from government and regulators (68%), their investors and board (64%), as well as their customers (58%).
Previous research from around the world have revealed that employees are starting to put more pressure on their employers to fight climate change. The United Nations last year also called on organisations to contribute to the acceleration of climate action, as the world enters an era of "global boiling."
Biggest disruptive opportunities
Meanwhile, 68% of executives surveyed said the rise of generative AI is their biggest disruptive opportunity this year, according to the report.
However, 63% of CEOs said their company can't keep up with the rate of technological change, while another 58% said they personally feel like they're falling behind the knowledge and skills curve.
Presented with these varying challenges, 60% of executives surveyed said it is becoming more challenging to know which disruptive force to prioritise.
More than half of the respondents (59%) said they are currently investing in generative AI, as 30% said artificial intelligence is the most important technology for the company to address in the next 12 months.
"We are entering a new age of post-pandemic, longer term, and less controllable disruptive forces. Although our survey suggests that an increasing number of leaders are feeling more confident in their ability to manage disruption, there's no room for complacency," Freakley said.
According to the CEO, business leaders who will act quickly and decisively in the face of the external challenges will be successful.
"The winners will be those who can harness external challenge for internal benefit, in particular by unlocking the force multiplier effect afforded by AI," he said.
