KPMG: Greek CEOs face increased optimism the next day of the pandemic
KPMG in Greece held a digital press conference on Thursday, October 7, on the occasion of the presentation of the 7th CEO Outlook survey.
The research includes for the 4th consecutive time Greek findings on the perspective of Greek CEOs on the challenges posed by the pandemic, as well as the growth prospects presented the next day.
The digital event was prefaced by Nikos Vouniseas, Senior Partner of KPMG in Greece, while all the results of the research were presented by Alkiviadis Siaravas, Marketing & Communications Manager of KPMG in Greece.
The 2021 CEO Outlook survey, the largest annual survey of the company, is based on the views on the future of 1,325 CEOs from 11 major markets and 50 CEOs from the Greek market.
According to the research, the current CEOs worldwide and in Greece are enhancing their digital capabilities, giving priority to people and focusing on the goal in order to grow their businesses and emerge stronger.
In addition, they seem to embrace and follow to a large extent the views of CEOs worldwide on the challenges, as well as on the development prospects that the next day presents.
They are optimistic about the future for their country, their business and the global economy and are planning development plans for the future.
At the same time, company leaders are introducing the Environment, Society, Governance (ESG) factors into their business strategy and aligning themselves with the new digital environment by following a series of actions aimed at enhancing flexible working in a new technologically advanced ecosystem.
The three main themes that emerged from this year’s research are the following:
- Path to renewal
- Purpose of trust
- Digital flexibility
Path to renewal
Despite ongoing uncertainty and risk volatility, CEOs say they are confident and optimistic about growth, feel a strong connection to their purpose, and seek to promote expansion.
Typically, 76% of Greek CEOs (and 60% worldwide) express confidence in the growth prospects of the global economy.
In addition, Greek CEOs show increased confidence in their country’s growth prospects by 82% compared to pre-pandemic levels (66%).
At a rate of 82% of Greek CEOs (and 64% worldwide) report that the key goal of their business is to integrate the purpose into what it does, thus creating long-term value for all stakeholders.
80% of Greek CEOs are optimistic about the growth prospects of their own company and Acquisitions & Mergers seem to be crucial to support the growth and acquisition of digital capabilities.
84% of Greek CEOs (and 87% worldwide) state that they want to conclude agreements within the next 3 years.
Purpose of trust
With increasing pressure from stakeholders to get businesses back on track, CEOs are incorporating ESG into their business strategy.
In Greece, 92% of CEOs said they would be increasingly seen as personally responsible for progress in addressing social issues, with 64% saying that the rapidly growing public, investor and government expectations for diversity, equality and inclusion may be difficult to meet.
46% of Greek CEOs (and 30% of CEOs worldwide) plan to invest more than 10% of their income in order to make their businesses more sustainable.
At the same time, 84% (and 75% of CEOs worldwide) say that global leaders need to add urgency to their climate agenda at COP26.
While 52% of CEOs in high-growth companies believe that ESG programs improve financial performance, this decreases to 37% of all CEOs worldwide, in contrast to Greek CEOs which increases to 56%.
CEOs enhance the digital edge of their companies by creating a more flexible future for work and operating as part of digital ecosystems.
46% of Greek CEOs (and 37% worldwide) say that the majority of employees will work remotely two days a week and 56% (and 51% worldwide) seek investment in common office space.
In Greece, CEOs at a rate of only 34%, support the increase of investments in the processes of locating reversals and innovation.
In contrast, CEOs worldwide have a higher percentage, 67%.
74% of Greek CEOs (and 70% worldwide) consider it important to enter into new partnerships in order to maintain the pace of digital transformation.
For the fourth year, CEO Outlook incorporates the Greek results and findings, presenting mainly the similarities but also some differences of the Greeks in relation to the CEOs of the main countries participating in the exhibition. Below are some of the main findings of the research concerning Greece:
- 82% of CEOs express confidence in the development prospects of their country in the next three years. Percentage that shows an increase of 16% compared to their statements before the pandemic in 2019 CEO Outlook (66%).
- 76% of CEOs express increased confidence in the outlook for global economic growth over the next three years compared to pre-pandemic levels where 58% expressed relative confidence.
- CEOs invest in leadership with a goal of 82%.
- CEOs’ optimism (80%) seems to be at a high level for the prospect of developing their own business in three years.
- Acquisitions & Mergers are critical to supporting the growth and acquisition of digital capabilities for 84% of CEOs.
- 92% of CEOs report that they increasingly consider themselves personally responsible for their actions and developments in addressing social issues.
- The rapidly growing expectations of the public, investors and the state for diversity, equality and inclusion are some of the challenges to addressing social issues, according to 64% of CEOs.
- 46% of CEOs plan to invest more than 10% of their revenue in order to make their business more sustainable.
- 84% of CEOs say global leaders need to include urgency in their climate agenda at COP26.
- The conclusion of new partnerships in order to maintain the pace of digital transformation is considered important by 74% of CEOs.
- Part of the CEOs (46%) agree with the distance work for the majority of their employees, two days a week, with 56% wanting to invest in common office spaces.
- Only 34% of CEOs support increased investment in reversal tracking and innovation processes.
Nikos Vouniseas, Senior Partner of KPMG in Greece stated in this regard “It is a fact that the entrepreneurial spirit dominates in Greece and in relation to the optimism of the Greeks for our economy, the emblematic projects that we look forward to throughout the country (eg Greek), but “I hope that a new era dawns for the business world and society.
Certainly, there are many challenges, the pandemic is between us, but there are also opportunities that are already present and will be presented in the future.”
Alkiviadis Siaravas, Marketing & Communications Manager of KPMG in Greece stated among other things “