After a year of disruption wrought by COVID-19, UK CEOs are looking to base their recovery on ‘no regrets’ moves: those decisions most within their control that will deliver positive change and a foundation for sustainable growth. This includes prioritising organic revenue growth and sensible cost efficiency. But it also includes a broader set of ‘no regrets’ moves around decisions that cannot be put off – where inaction would lead to regret – such as increasing investment in digital transformation, cyber security, sustainability and their people.
Even at a time when many CEOs remain concerned about economic uncertainty, they are investing in these areas with a clear intention of turning a year of significant disruption into a catalyst for positive change. For a lot of UK CEOs, economic uncertainty remains a concern (86%), but they also see a route to recovery for businesses and the economy. Just over half (51%) of the UK CEOs surveyed expect to see moderate growth in the global economy this year, while around a quarter (26%) expect strong growth.
That suggests a clear belief among CEOs that the economy is recovering, albeit from a base of a very tough year. While nearly a quarter (22%) of UK CEOs do not expect the economy to pick up this year, very few expect it to get significantly worse (2%).