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In the rapidly shifting landscape of business and leadership, what external organizational challenges are Singapore's leaders most concerned with today? And how are they prioritizing their efforts to navigate a way forward.
Our bi-annual survey reveals the top five external factors that leaders in Singapore believe will impact the health of their organizations over the next 12-18 months, and how well-prepared these leaders feel to address these impending challenges.
THREATS
% of leaders selecting as top 5 issue
L6M Change
% of leaders prepared or very prepared
L6M Change
1. Uncertain economic growth
2. Availability of key talent/skills
3. Technological change
4. Geopolitical uncertainty
5. Changes in consumer behavior
Uncertain economic growth is a top concern
Uncertain economic growth remains the primary concern for Singapore leaders, with 81% ranking it as a top-five organizational threat—the highest level recorded since 2021. Preparedness for this issue has improved, rising from 33% a year ago to 49% today. Among Asian leaders, only those from China/Hong Kong have reported a higher concern for this factor, at 87%.
Singapore leaders are less prepared to face technological change
Over half (51%) of leaders identified technological change—including AI, machine learning, big data, robotics, IoT, and 3D printing—as a top five threat, rising in rank to 3rd from 4th in H1 2024. The rapid evolution of generative AI and the ensuing information overload have left many leaders feeling unprepared. Over the past six months, there has been a notable 8% decline in leaders feeling equipped to navigate these changes, with preparedness now at only 60%. This trend of growing unpreparedness is also observed globally.
Availability of talent and skills remains a significant challenge
In Singapore, 62% of leaders cite the availability of key talent and skills a critical issue. Despite consistently ranking among the top five threats since 2021, only 23% of leaders feel prepared to address this gap, a 17% percentage point decrease vs. 6 months ago.
How our leadership advisors can helpOur leadership advisors are experts in building teams of transformational leaders who can help you look toward the future with confidence. We’re well-versed in guiding organizations through change. If your leaders are concerned about weathering economic uncertainty, navigating technological change, or looking for guidance on how to engage and retain your leadership team, our advisors are here to help. Connect with our experts today |
Explore global findings and the data in your region, industry, and role
Did you know that uncertain economic growth is more of a concern for leaders in Asia than other geographic regions? Or that workforce transformation is seen as more of a threat in the Americas than other parts of the world?
Find out what the top threats are for your region, country, industry, and role—and leaders' preparedness to face them.
Global Leadership Monitor H2 2024 - Key global findings
Global Leadership Monitor
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