- 73% say business leadership has become more complex over the past five years.
- When asked about what had become more challenging since 2020, 59% said ‘navigating policy, regulation and legislation’ was now harder.
- 56% said the same about ‘attracting and retaining the best talent’.
Complying with regulation and retaining the best talent are the areas of business that senior decision-makers believe have become most challenging since 2020, according to new research by Alliance Manchester Business School (AMBS).
AMBS commissioned Censuswide to survey 500 managers, directors and C-suite executives within UK businesses. It found that 73% believe business leadership to have become more complex in the past five years.
When that group was asked about the specific elements of their job that have become more challenging since 2020, 59% said ‘navigating policy, regulation and legislation’ was now harder, the highest of all options.
Over half (56%) said ‘attracting and retaining the best talent’ had gotten harder in the past five years, while the same number (56%) said this about ‘maintaining a competitive advantage over rival businesses’.
It comes as just 71% of the business leaders surveyed say they have received training from their employer to enable them to do their job well, meaning 29% are missing out on vital support.
Sarah Featherstone, Director of Operations at Alliance Manchester Business School, said: “The message from business leaders is loud and clear – they feel their roles have become much more complex over the past five years. What’s telling is how this increased complexity is then translating into business outcomes, with the majority of the leaders surveyed highlighting how critical challenges, such as regulatory compliance and talent retention, are far harder today than they were in 2020.
“Businesses have found themselves in the middle of a perfect storm. How and where people work is changing; the economic climate has been challenging in recent years with inflationary pressures impacting businesses and consumers alike; AI is disrupting products, processes and systems; and employees’ financial and cultural demands are changing all the time. So, it is alarming that as many as 29% of UK business leaders have received no formal training to enable them to execute their roles well.
“Whether it is managing a digital transformation project or evolving a business’ proposition to gain a competitive advantage, business leaders require support if they are to excel in key facets of their job. The key for organisations and individuals themselves is to identify what training and support will have the greatest impact and source the right ways to upskill, empowering them to lead with confidence and achieve excellence.”
