2024 CEO Outlook Reports | The Conference Board and PwC

Workforce Trends

The Conference Board and PwC recently released reports on CEOs’ outlooks for 2024, providing insights into talent implications. According to the 29-page PwC report, 25% of CEOs anticipate a 5% or more reduction in headcount in 2024 due to generative AI. This raises organizational questions, such as: which areas of our business will AI most affect in terms of job changes, and how can we redeploy affected talent to meet our organization’s other talent needs? On average, CEOs said that 40% of time spent on meetings, administrative processes, and emails is inefficient. A key question for organizations to ask: what changes in our ways of working can reduce inefficiencies, unlock workforce capacity, and promote employee wellbeing? The 35-page Conference Board report notes that global CEOs’ top overall priority is to attract and retain talent due to concerns about labor shortages and rising costs. This prompts questions, such as: How can we tap into less obvious talent pools to find overlooked and “hidden” talent? What changes can be made to our internal mobility strategies for swift talent redeployment? Page 22 also examines the alignment of CEOs and CHROs on human capital priorities. CEOs and CHROs agree on the top two priorities for human capital: developing leadership and workforce capabilities and strengthening organizational culture. Other ideas are discussed.