There is no doubt the world of business is rapidly changing. Business leaders must understand the needs of all stakeholders, positively impact society and the environment and speak out on pressing social issues – while still improving business performance. Yet, for many executives, this is not something their business school education or job experience has prepared them to navigate.
Our latest research shows it’s time for a new class of business leader. One that leads with empathy by infusing the personal with the professional, authentically considers what matters to every stakeholder and understands how impacting societal issues can be an effective way to drive long-term business success. But this new path is not easy – and executives are the first to admit they need help in achieving it. The following report unpacks the various pressures today’s leaders face, the stakeholders they see as critical and who they are turning to for help.
Introducing the 2021 Porter Novelli Executive Influence Study.
Key Findings Include:
- 95% of business executives say it is more important to them now than in the past to understand the needs and concerns of all their stakeholders
- 82% say it is challenging to know if, when and how to address hot-button societal issues with a further 87% insisting they need more resources or counsel to navigate the societal issues they face today
- 74% say shareholders are no longer their single most important stakeholder
- 95% say the social, cultural, and economic challenges of the last 18 months have made them more aware of how their role can impact society
- 97% believe that the Chief Communications Officer is more important to their organization than in the past
In today’s culturally conscious society, successful leaders are the ones who are deeply curious about the needs of their stakeholders and are always listening to the latest marketplace intelligence – not just business intelligence – but social and emotional intelligence as well. The new executive sees this moment of change and transformation not as something to shy away from – but a challenge accepted. They are ready to use their platform to transform the course of business and society for the better. Welcome to the era of Executive Influence.