Emerging resilient: 2023 Business Leaders Outlook
Results from the 2023 Business Leaders Outlook Survey show renewed optimism despite inflation and fears of a recession. After surviving an onslaught of challenges, businesses are adapting to uncertainty, recognizing their strengths and forging ahead with confidence.
Emerging resilient: Results from the 2023 Business Leaders Outlook Survey
Our survey of over 1,000 business leaders shows renewed optimism despite inflation and fears of a recession. After surviving an onslaught of challenges, businesses are adapting to uncertainty, recognizing their strengths and forging ahead with confidence.
Reworking the employee relationship
No one knows exactly what the future workplace looks like, but one thing is clear: Businesses realize the value of their employees and are evolving to keep them more engaged. Over 50% of business leaders strongly agree that engaged and committed employees are critical to survival. On average, 44% of employees work from home full time and 28% work hybrid schedules. To attract and retain talent, 41% will offer more flexible hours, 42% plan to increase wages, and 35% will increase benefits.
Mental health is top of mind
As more employers see the connection between healthy employees and a healthy business, they’re taking responsibility for employee well-being — and prioritizing their own, too. 66% of business leaders agree that managing stress and mental health is important for their employees and business. 39% offer a health care plan with mental health coverage. 80% implemented strategies to manage their own stress and mental health. 47% started healthy habits like exercise and meditation as part of their strategy.
The power of community
Business leaders are showing a deeper appreciation for community and the ways in which relationships can support and guide their success. 31% reached out to other business owners or their community for support. 64% agree that community support has been critical these past few years. In dealing with inflation, businesses believe the most important quality is honest, transparent communication. The #1 way to connect with the community is to support others in need.
Optimism despite everything
If business leaders have learned anything over the past few years, it’s the power of resilience. They’ve overcome enough obstacles to fortify confidence in themselves and their teams. And they’re better prepared for whatever comes next. 61% expect a recession in 2023 and 45% of business leaders see inflation as their top challenge, yet 72% feel optimistic about their own business, which almost equals pre-pandemic levels. The percentage of those with an optimistic outlook for businesses at the global, national and local levels has also increased significantly.
Explore the 2023 Chase Business Leaders Outlook Survey.
This survey was conducted by Chase Insights from November 14 to 22, 2022, among 1,008 business leaders across the professional services, retail, technology, health care and other key industries with annual revenue of $100,000–$20,000,000. The results of this online survey are within statistical parameters for validity, and the error rate is plus or minus 2.5% for the findings, at a 95% confidence level.
