Executive Views on Business Challenges and Opportunities in 2022 | PwC

This PwC pulse report articulates executives’ top concerns and opportunities in 2022, including those that are workforce and workplace-based. The pulse report was conducted between January 10th and 14th and surveyed 678 global executives across multiple industries. For more than three-quarters of executives (77%), the ability to hire and retain talent is most critical to achieving growth. This finding aligns with a recent Conference Board report showing that CEOs across the globe cite talent attraction and retention as their number-one internal focus for 2022. The PwC report shows that respondent firms are supporting talent attraction and retention by offering more incentives to talent, including higher salaries, better benefits, and greater flexibility. Regarding compensation, 62% of respondent firms are increasing compensation to bolster talent attraction and retention, and another 22% are considering it. And while attractive compensation packages are compelling short-term attraction and retention tactics, other components of a firm’s employee value proposition (EVP)—such as flexible work and shared purpose—in general, are likely to have a more enduring impact considering shifts in worker preferences. As firms determine the right mix of EVP attributes to best attract and retain talent, I am resharing the June 2021 issue of Gartner’s HR Leaders Monthly, which has a few articles on EVP.