New research lifts the lid on boardroom attitudes to pressing issues as UK businesses head into a challenging New Year

As the UK’s business leaders head into a New Year shrouded in uncertainty, research carried out by the elite executive coaching consultancy, CoachDirectors has lifted the lid on boardroom attitudes to five of the most pressing issues in firms up and down the country. The firm, which focuses on the performance and leadership development of individuals, spoke to 60 business leaders in London and the South East to get an unparalleled insight into attitudes, challenges and stresses heading into 2019.

The study asked directors to share their personal feelings on the topic of global uncertainty and macro factors such as digital transformation and compliance, business challenges such as growth and recruitment, personal challenges like maintaining a work-life balance, employee challenges including transparency and culture and recruitment challenges.

The findings show that many directors are feeling the effect of global uncertainty, lamenting burdensome regulations such as those imposed by GDPR and are facing a sharp change in employee attitudes to work. There is a feeling that compliance requirements favour large businesses with others suggesting ineffective regulation is creating uncertainty.

The rapid development of technology, combined with changes in employee attitudes to work was also offered as a major challenge, with one leader suggesting that employees are no longer as committed to an organisation as their predecessors were.

For many business leaders, growth and managing cash flow, people and culture was a major challenge – with many businesses experiencing the growing pains of different motivations and the need for employees to grow within their roles as profits change.

Despite this, there is also a healthy culture of innovation, a focus on talent acquisition and a growing realization that information sharing is key. One of the challenges that CEOs referred to most was the need to innovate and stay agile in order to remain competitive. While recognising that developing new products and being nimble was key, many interviewees said this territory came with the task of finding and holding onto the best people.

Finding the right people was also key to facing personal challengers, with most saying it was lonely at the top but having a strong senior leadership team can help to keep personal stresses under control.

An overwhelming number of CEOs recognised the need for a work-life balance but also found it next to impossible to switch off with some reporting feelings of guilt for working from home instead of the office and a constant need to check their phone while on holiday.

Alan Potts, MD of CoachDirectors, says, “We live in unprecedented times. Today’s business landscape is filled with challenges and changing quickly – attracting top talent emerged as one of the hardest parts of running a business but other issues, such as the burden of regulation and legislation also have to be grappled with, buyer confidence is under threat and digital transformation is wreaking havoc on operations.

“What strikes me more is the sheer quantum and diversity of challenges business leaders face today. Our selected CEOs seem to have a good understanding of the challenges they each face and some have clear strategies to deal with them. In fact, they show more confidence, enthusiasm and optimism than I had originally expected given the current turbulent political and economic environment.”

Read the full report online at https://www.coachdirectors.co.uk/accelerating-your-business/ or visit the CoachDirectors website: https://www.coachdirectors.co.uk