CEOs in the North West of the UK have cited recruiting the right talent (17 per cent) and delivering digital transformation (16 per cent) as their biggest strategic challenges they face in the coming year, according to Growth Characteristics report 2022 from ECI Partners.
When it comes to hiring the right talent, businesses in the North West are currently looking for Chief Finance Officers (45 per cent) and Chief Operations Officers (35 per cent) while Chief Information Security Officers and Chief Technology Officers (both 29 per cent) are also positions in high demand.
“The Growth Characteristics report makes it clear that the hiring market in the North West – particularly for senior talent and tech talent – remains tight,” said Stephen Roberts, Partner at ECI Partners. “Leadership teams will need to inspire, motivate and retain the very best talent if they are to deliver on their growth objectives. Digital transformation also remains right at the top of the agenda for UK CEOs and we expect more focus on digital going into 2023 as businesses look to drive efficiencies and boost productivity.”
Other key findings from the North West section of the Growth Characteristics report include:
· The most in-demand Board level hire in 2022 is a Chief Financial Officer (45 per cent), but Chief Operations Officer (35 per cent), Chief Information Security Officer and Chief Technology Officer (both 29 per cent) are also in the top roles that leaders are looking to hire in the North West
· The most sought-after trait CEOs want from their leadership teams in the North West was loyalty (26 per cent), followed by those who believe problem solving is essential (24 per cent)
· CEOs from the region stated that offering opportunities to learn and grow (31 per cent) and having an ambitious strategy (26 per cent) are the most successful ways of driving engagement
The report also revealed that 1 in 6 CEOs in the region see their digital journey as another big challenge. However, with the North West home to nine of the UK’s tech unicorns and reputation as a hub for innovation and growth, 2023 is likely to be a positive year for digital transformation in the capital. It received $975m in venture capital investment in 2021 (a 43.7 per cent increase from the year before) highlighting investor confidence in the region.
