CEOs Worst Nightmares 

CEOs' Response to Unmeasurable and Unmanageable Major Business Crises

Today, the landscape for CEOs, C-Suite executives, Boards, and Leadership is fraught with uncertainty as we grapple with two of the most significant global CEO business threats, without the tools to decipher their root causes, measure their impact, or effectively mitigate the associated risks. Drawing from extensive surveys encompassing over 32,000 CEOs by leading authorities: PwC, Deloitte, McKinsey, Forbes, The Conference Board, and Gartner, the stark reality emerges - Turnover and  Slow Recruiting are a collective nightmare that keeps us awake at night.

Karl Hittle, CEO of Endeavor Healthcare, poignantly captures the relentless burden we carry: 'These hidden problems constantly gnaw at us, create uncertainty, and we lose sleep.' The weight of our responsibility is felt keenly, as the concerns of our Boards and Leadership echo our own fears. This pervasive sense of apprehension is shared across the majority of C-Suite members.

The challenge is profound: we confront major crises impacting every facet of our businesses, yet we lack the clarity to identify their origins, leaving us feeling as though our minds are ensnared in an unyielding vice. Quarterly analyst calls only compound the pressure, a reminder of the scrutiny we face. 

Despite our steadfast commitment to our employees, their families, and investors, it's humbling to admit when we're confronted with crises whose root causes elude us, jeopardizing our ability to navigate effectively.

Navigating Major Change

Amidst these crises, the path forward is fraught with complexity: do we search for a solution, or are we left to steer the ship without a clear remedy? And if a solution necessitates change, will our teams embrace it, or resist and potentially undermine our efforts?

Deep research into finding and measuring the crises, leads us to a glimmer of hope—a potential solution emerges. Yet, our decision to forge ahead is fraught with trepidation, knowing the uphill battle that lies ahead in garnering support from our existing departments. As Hal Zesch, Former CTO of Fortune 12 Valero Energy, astutely observes, 'Not a fun place for the weak at heart!'

As we execute our plan, we unearth hidden root causes and gain newfound measurability, empowering us to anticipate business risks and costs. However, our relief is short-lived as we confront a new challenge—our departments lack the resources, knowledge, or skills to implement the solutions effectively. It's a familiar conundrum faced by many departments undergoing modernization.

The Urgency 

Forbes' sobering report underscores the urgency of the situation: most organizations are ill-prepared to navigate major crises, underscoring the critical need for robust crisis management strategies. Without such plans in place, executives are left scrambling to make crucial decisions amidst chaos.

When we finally uncover root cause data and link it to business performance, the scale of the hidden problems becomes glaringly apparent. Loss of our top performers and critical specialists are even more disproportionately affecting our operational performance, strategic projects, sales, and safety.

The absence of a risk management system for these crises compounds the urgency of our situation, highlighting the imperative of action. We stand at a critical juncture, where clarity, resilience, and decisive action are paramount to deal with the labor supply shortages and rapidly changing workforce demographics.

The Pink Elephant in the Boardroom - Part 1