West Monroe today released its latest results from the West Monroe Quarterly Executive Poll, showing that the C-suite is bullish on the U.S. economic recovery and has aggressive plans, despite the pandemic’s lingering effects.
In the Q4 poll, 75% of C-suite respondents said their outlook is bullish heading into 2022, while 25% are bearish. While the effects of COVID-19, The Great Resignation, and supply shortages affected their businesses the most in 2021, their plans include trying new hiring and retention strategies, M&A, and new sustainability measures.
Key findings of the Q4 poll results include:
- Three in four C-suite executives say they’re planning M&A activity in Q4, with 44% focusing on geographic expansion, 42% on acquiring new capabilities, and 9% on merging with a competitor.
- Executives are responding differently to the Biden administration’s proposed rule that all companies with 100 or more employees must require the vaccine or a weekly negative COVID test: 17% already act in accordance with the mandate, 30% said they were already on their way to doing so, 44% said they’ll do what they need to do to comply, and 8% said they are exploring alternative options.
- Hiring plans are still hot, with 71% saying they expect to hire more people this quarter, and 25% reporting little to no change. Hiring has increased significantly throughout the year, from 49% saying they’re hiring in Q1 to 60% in Q2 to 77% in Q3.
- Execs are trying several strategies to address the shortage of talent, with 68% increasing wages and salaries and 51% using contingent talent resources. For 44% of executives, their contingent workforce level is higher than they want it to be.
Other poll results cover the future of business travel, hybrid workplace models, and sustainability. Read the full findings.
West Monroe’s Quarterly Executive Poll takes the pulse of 150 C-level executives every quarter. This poll’s data was collected September 17-21, 2021. To qualify for the survey, respondents needed to have a C-level title at a company with at least $250 million in annual revenue.
West Monroe publishes market-leading insights about the most pressing issues that face organizations today. Unlike other consulting firms, West Monroe believes digital transformation is a myth—digital is not a project, a team, or a destination, it is instead a mindset and way of working. West Monroe continually moves clients closer to running a digital organization.
Previous West Monroe Quarterly Executive Polls can be found here.
About West Monroe
West Monroe is a digital consulting firm that was born in technology but built for business—partnering with companies in transformative industries to deliver quantifiable financial value. We believe that digital is a mindset—not a project, a team, or a destination—and it’s something companies become, not something they do. That’s why we work in diverse, multidisciplinary teams that blend industry expertise with deep operational and technology capabilities—moving clients from traditional to digital operating models and creating products and experiences that transcend the digital and physical worlds. Our 1,800 employees also own 100% of our business, so when you partner with us you know we are committed—because your success is our success. Our undeniably different approach breeds undeniable results. Visit WestMonroe.com to learn more.
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