Jay Holstine: CEOs need a strategy for the uncertain next 12 months

“In just the first few months of the pandemic, the ways in which we work, and purchase goods, rocketed through decades of evolution. Trends in technology and supply chain were accelerated, with effects that changed our economy significantly,” Jay Holstine said. 

“Our Vistage research analyzes the economy’s quarterly growth, and the effects of supply chain challenges, talent shortages and inflation. This fuels out workshops where our CEOs and key executives are solving critical challenges in a confidential, supportive group.” 

“Our discussions on innovation, workforce technology, and economic trends, are enriched by 18 different leadership perspectives, on top of a lot of solid research, and expert speakers,” Jay Holstine said, “Today’s CEOs are navigating these effects as they deal with rising costs from suppliers. Most midsized and small businesses are encountering the higher costs of raw materials, computer chips and the like, at the same time they are dealing with a shortage of labor, and changed expectations from customers, as well as their own workforces. 

“Most CEOs agree that the corporate workplace catapulted through a few generations of change in the last 2 years. Pre-pandemic paradigms of office-based workdays have evolved, facilitated by improved technology, acceptance of virtual meeting, and evolving employee work styles,” Holstine shared. 

“The consensus is that, while individual work can be done better remotely, the more collaborative, and culture-building exercises that are suited to office environments, can still be arranged, often in outdoor settings that appeal even more to employees. CEOs are realizing that new ways of communicating with, and rewarding their teams, can become even better than before. Most CEOs are offering hiring incentives and higher wages, and will increase prices in the year ahead.

“With technologically-savvy workers in demand, companies are investing in technology that better supports remote work, and thus increases their hiring footprint. This new technology also increases their ability to reach more customers. Likewise, buyers have become much more accustomed to purchasing digitally, at all hours, and without a salesperson. 

The traditional role of ‘sales’ has decreased, while the role of ‘Marketing’ has increased, and covers more of the entire selling process. This requires companies to redesign their approach, their websites, and their buying options for their customers, in order to optimize the new advantages of a digital marketplace.

Today’s group of CEOs are sharing research, practical experience, and ideas in identifying ways to help teams and companies work more effectively and successfully. Moderating a CEO peer group dedicated to raising their businesses to new levels of productivity, is more inspiring now than ever before. Whether it’s the discussion of economic trends or communications with customers and salesforce, the interplay of ideas is crucial to finding solutions that fit each CEO’s company,” Holstine added.