250: What Keeps Business Leaders Up at Night with Julie Kratz

The Diversity Pivot

In a recent study, CEOs cited workforce development, business strategy and HR financial impact as top concerns. Patrick Wright, department chair and Thomas C. Vandiver, bicentennial chair at the USC Darla Moore School of Business, conducts a survey of Fortune 500 CHROs every year, interviews CEOs about the challenges they face, and shares his findings in the report Executive Succession. In an interview with me, Patrick shared some of these findings, chief among them:

• Developing strategic workforce plans topped the list of CEO challenges, with 41% indicating this process needs improvement and 7% indicating it needs vast improvement.
• Influencing the development of business strategy was a priority, with 24% stating it needs improvement and 3% saying it needs vast improvement.
• Understanding the financial impact of HR processes was listed, with 22% noting it needs improvement and 2% asserting needs vast improvement.

Read full article at: https://www.forbes.com/sites/juliekratz/2024/02/18/the-top-three-problems-keeping-business-leaders-up-at-night/