What are Business Leaders expecting to see in 2025?
Key insights from prominent Melbourne CEOs.
Recently, I chaired our second CEO Roundtable event for 2024 on behalf of TRANSEARCH International, titled CEO Outlook 2025 – Navigating the Year Ahead.
During our discussion, we delved into the key topics that are likely to drive what looks to be a transformative year ahead, highlighting the common experiences and concerns that resonate among today’s business leaders.
Participants shared insights on adapting their operating models to address economic uncertainties, supply chain disruptions and the transformative impact of emerging technologies. The conversation also delved into evolving workforce dynamics, the implications of new employment laws, and strategies being employed to attract and retain top talent.
While acknowledging the complexities of the current environment, the overall sentiment expressed was a cautious optimism for the year ahead, with businesses demonstrating resilience and taking a proactive approach to navigating the changing landscape.
The discussion covered the following key topics:
Economic Outlook, Supply Chains and ‘Fit for Purpose’ Business Models:
- Businesses are actively reimagining their models to address supply chain pressures, inflationary concerns and shifting market dynamics.
- Many are seeing opportunities in international markets, leveraging digital transformation to enhance customer experiences and operational efficiency.
- Participants highlighted the need for adaptability, with some sectors undergoing consolidation and technological integration to remain competitive.
- The impact of government policies and regulations is creating uncertainty and requiring many businesses to rethink their strategies.
- Businesses are exploring ways to diversify their revenue streams, expand into new markets, and optimise their supply chains to mitigate the effects of economic volatility.
AI, Automation and Digital Transformation:
- AI and digital technologies are disrupting traditional industries, bringing both opportunities and risks.
- Businesses are exploring AI applications to drive operational efficiency, enhance customer experiences and automate repetitive tasks, but are also grappling with the challenges of AI bias, data governance and the need for human interaction.
- The integration of AI and automation is transforming business processes, with participants highlighting content generation and code writing in particular.
- Cybersecurity and data governance remain critical considerations, with the need for robust security measures.
- Participants emphasised the importance of identifying business processes where leveraging AI and digital tools can streamline operations and improve overall efficiency.
Workforce of the Future, New Employment Laws, Talent Attraction and Retention:
- Evolving employment laws are creating compliance challenges, requiring proactive HR strategies.
- The shift to hybrid work models is impacting employee onboarding, learning and development, and organisational culture, with concerns about the loss of in-person interactions and tacit knowledge transfer.
- Participants highlighted the importance of fostering a positive leadership culture, emphasising growth, development and mentorship opportunities to appeal to the next generation of leaders.
- Understanding and addressing psychological safety in the workplace is seen as increasingly important, even if not being explicitly addressed by all organisations.
- Attracting and retaining talent, especially in leadership roles, is a key concern. Organisations will need to reframe their narrative around career progression to address the changing expectations of younger generations.
Businesses are demonstrating resilience and a proactive approach to navigating the changing landscape, leveraging new technologies, rethinking their operating models, and implementing strategies to attract and retain top talent.
While acknowledging the risks and uncertainties, all participants in the CEO Roundtable expressed a shared belief in the ability of businesses to adapt, innovate and capitalise on emerging opportunities to drive growth and success in the years ahead.
This was the second session of our CEO Round Table series for 2024. I will be hosting these events quarterly, continuing in 2025, engaging with prominent Australian CEOs to capture candid insights from those navigating market challenges in real time.
Click here to express your interest in attending future TRANSEARCH Australia events, or contact me for more information.
Cameron is a well-established and highly reputable executive search professional, with over 30 years’ continuous experience in the executive search and recruitment industry. He specialises in the appointment of CEOs, C suite Executives, General Managers and senior professionals across the Consumer / FMCG, Industrial, Industrial, Transport Energy / Power Industry Sectors. In 2022, Cameron obtained two Advanced Certificates – ‘Leaders & Culture’ and ‘Executive Talent’, through Cornell University Industrial Labour Relations (ILR) School and the Association of Executive Search Consultants. Cameron has an engaging and authentic approach, with a sharp intellect and high attention to detail, with the ability to confidently identify, assess, engage and bring the right talent in the market into search processes, through to appointment and beyond. Read more…
