New Delhi– About 89 per cent of Indian CEOs are likely to reward employees who try to come to the office, with raises, promotions, and favourable assignments, a new report said on Monday.
Globally, about 87 per cent of CEOs consider implementing the same, according to the global consulting firm KPMG.
The report which surveyed more than 1,300 CEOs of the world’s largest businesses, including 125 CEOs from India, said geopolitics and broader political uncertainty are now the greatest risks to business growth.
The report revealed that geopolitics and political uncertainty have become the leading perceived risk this year for senior executives — concerns that didn’t even make the top three of the five risks in 2022.
“CEOs in India are facing challenges and obstacles to growth on multiple fronts — from geopolitical uncertainty and politicisation to increased stakeholder expectations in the ESG space and the adoption of generative AI,” said Yezdi Nagporewalla, Chief Executive Officer, KPMG in India.
The level of confidence of Indian CEOs in their own company’s growth prospects has remained mostly unchanged from the past year (71 per cent in 2023 compared to 72 per cent in 2022).
Moreover, the report showed that CEOs in India are prioritising investments in generative AI as a key competitive advantage for the future, with 66 per cent of CEOs considering it as a top investment priority for their organisation.
Around 58 per cent said that ethical challenges are a significant obstacle to adopting generative AI within their organisations, while 56 per cent of CEOs cited implementation cost as a major barrier.
Despite these concerns, a higher number of CEOs (61 per cent) feel confident in their organisation’s preparedness for potential cyber-attacks, the report mentioned. (IANS)