Forvis Mazars C-suite barometer: outlook 2024 Building global ambition

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Optimism is on the up

This year’s global C-suite barometer indicates a business world optimistic for the future, confident about growth and ready to take on the challenges ahead.  94% of leaders have a positive growth outlook, 89% anticipate increased revenue and 66% are increasing investments to support transformation and growth ambitions.

 Confidence in tackling the challenges ahead 

While leaders seek to shape a positive future for their businesses, they can’t take their eye off the big external trends all organisations will need to navigate:  

• Economic trends (including inflation and cost of living): 37%
• Energy prices: 33%
• Emergence of new technologies: 33%

Businesses feel they are ready to manage these trends and our Confidence Index shows an average of 44% “very confident”.  Leaders are particularly confident managing new technologies (87%).

Investing for growth  

Along with revenues, optimism and confidence, planned investment also rebounds this year with our Investment Index (percent of businesses planning to increase investment, averaged across 24 activities) moving up to 66%.  

Topping the C-suite agenda 

Leaders see enormous potential to transform their businesses, with technology topping the list of strategic priorities once again. Alongside this, leaders are equally focused on international expansion, sustainability and talent strategies. 

• 32% Technology transformation remains the biggest priority for the coming 3-5 years. 
• 25% International expansion appears in the top 3 strategic priorities for the first time. 
• 25% New or revised sustainability strategies remain high on the agenda 
• 25% Talent attraction and retention remains a key focus

Transformation in a digital world 

C-suite executives remain invested in technological advances that will transform business opportunities and establish more robust operations. As with all innovations, there are considerations around the level of investment needed, and ethical responsibilities that come with new technologies. However, 87% of leaders are confident in preparing for the tech trends that will deliver long-term solutions.   

The rise in international growth is a strategic priority 

Businesses are approaching 2024 with international expansion front of mind. Leaders are seriously assessing opportunities to expand internationally and the regions of the world most attractive to deliver their plans.   

Recognising greater sustainability commitments

Sustainability responsibilities are rising as the business community continues to expand around the globe and regulation becomes increasingly complex. C-suite executives are committed to meeting this challenge with most organisations now producing a report (71%) and 72% factoring this into budget planning. Less-prioritised areas of reporting, including human rights, are also now gaining attention and budgets are increasing to support the need for greater in-house expertise.  

The new ‘laws’ of talent attraction

Investing in people means more than a benefits package and generous salary. The talent competition is set to continue and 76% of leaders are prioritising new or revised strategies that offer more learning, training and development opportunities to retain and attract the best people that will contribute to the long-term growth of their business. 

Based on research conducted in Q4 of 2023, the Forvis Mazars C-suite barometer captures the views from around 800 executives in over 30 countries around the world to better understand the opportunities in the year ahead and the challenges they are facing in the future.