HLB Survey Explores How Business Leaders Are Managing in the Current Economic Climate

HLB, the global advisory and accounting network, released its annual survey of business leaders, which looks at the top concerns and priorities of companies around the world. This year’s theme is “Leading Through a Perfect Storm.”

The survey focuses on the Collins Dictionary Word of the Year: the permacrisis. Defined as an extended period of instability and insecurity, Collins points to climate change, political unrest and the rising cost of living as factors that contribute to the current permacrisis, defined in HLB’s report as a perfect storm for businesses. These same factors affect the way business leaders for the future, as they must stay flexible while strengthening their business plan.

HLB’s Annual Survey of Business Leaders collects responses from executives around the world to understand how they are managing the trade-offs between short-term and long-term priorities. This year’s survey included 575 survey responses from business leaders in 60 counties and a range of industry backgrounds.

Key findings from this year’s survey include:

  • Eighty-two percent of business leaders cited inflation as a top risk to business. Other high-ranking risks include economic uncertainty (79 percent), geopolitical risks (74 percent) and rising resource costs (71 percent).
  • Thirty-five percent of business leaders see talent acquisition as their greatest weakness, the highest-ranking response.
  • Fifty-two percent of companies are committing to environmental, social and corporate governance (ESG) initiatives that go beyond regulatory requirements.

Download the full report for more insights.