LHH, the leading talent solutions company of the Adecco Group, has made an important presentation with the results of its recent study ICEO (International Center for Executive Options), which provides a comprehensive view on the state of executive leadership with projections towards the year 2025. The research, which included the participation of 2,675 senior executives from different industries and regions, gathered valuable information on the concerns and challenges faced by current leaders, including 251 Spanish leaders.
The report reveals that leaders in Spain identify three main concerns dominating their landscape: firstly, supply chain issues, mentioned by 29.08% of respondents; secondly, globalization and increased competition, mentioned by 27.89%; and thirdly, the complexity of regulatory compliance, cited by 27.49%. These results highlight the constant pressure faced by executives, who must navigate in a dynamic and competitive market environment while seeking the growth of their organizations.
The research also underscores a series of additional concerns. 26.95% of leaders indicate that economic issues related to globalization are concerning, while 26.84% mention inflationary pressures and increasing costs as significant challenges. This highlights the urgency of implementing agile and resilient leadership strategies, such as diversifying suppliers and adopting flexible work practices.
Regarding confidence in their leadership, the study revealed that many Spanish leaders feel prepared to face current challenges. 31.87% rated their self-confidence at an 8 on a scale of 1 to 10, while 35.06% would do the same regarding confidence in their teams. However, compared globally, many leaders express insecurities about their abilities and those of their teams, emphasizing the need for adequate support and development.
Although 65% of leaders in Spain feel supported by their organizations, 57% request more support to face the challenges of their role, highlighting the importance of providing executives with the necessary tools to adapt to a constantly changing business environment. Among the most prominent obstacles limiting the effectiveness of leadership teams are lack of cohesion among executives and poor implementation of change management initiatives, with 26.69% of mentions in both cases. This calls for a more focused approach to improving strategic alignment and making decision-making processes more efficient.
Retaining executive talent remains a key priority. 31.87% of Spanish leaders indicated that more than half of their team has changed in the last year, although the turnover of senior executives in Spain is lower than the global average. To address this situation, it is essential to establish clear and effective succession plans. 62.95% of leaders in Spain state that their company has a documented succession plan, a challenge that affects one in four executives globally.
Finally, the wellbeing of leaders has also become a primary concern, with 47.01% feeling overwhelmed with work. While 68.13% believe their career path within the organization is clear, 64.94% acknowledge the need for more support. These perceptions indicate the need to create a more balanced and sustainable work environment.
To address these challenges, LHH has launched the ICEO service, which provides comprehensive and personalized support to senior executives. This initiative includes guidance from a Peer-Advisor and a group of International Advisors, with the goal of facilitating the integration and development of leaders, ensuring a successful transition to new roles, and supporting management continuity through effective support in succession and outplacement processes.
Source: MiMub in Spanish