The innovation imperative

The past couple of years have demonstrated how resilient, adaptable, and creative every industry has become in response to the ongoing stressors. 86% of the business leaders we have surveyed this year feel more confident in their ability to innovate than pre-pandemic. This positive mentality is further reflected in their agendas. Their top-cited priorities are new product and service launches, emerging technology investments, innovation around talent management, and sustainability.

However, levels of optimism are more muted when it comes to talent capabilities, as well as financial means to fund innovative projects. This year’s risk radar for global business leaders has also shifted from addressing the direct implications of the global pandemic to improving access to talent and addressing macro-issues such as rising risks of inflation, regulatory changes, and climate change.

Across the board, leaders are compelled to switch from managing their response to the crisis to seeking new opportunities from the disruption. 83% of respondents agree that more rapid and effective innovation is critical to future growth. But first they will have to overcome three formidable challenges: funding, people, and culture, which we explore in this year’s report.

About the research – HLB Survey of Business Leaders 2022

Between September and November 2021, HLB collected 586 survey responses from business leaders across 46 countries and a range of industry backgrounds. Responses were collected via an online survey tool or telephone interview. The research sample was selected and controlled via HLB firms with their CRM data. In addition to the quantitative data, four in-depth expert interviews were conducted via video calls.

Note that not all figures in this report sum up to 100% as a result of rounding percentages, excluding neutral responses or when respondents could choose more than one answer. The base for all figures is 586 (all respondents) unless otherwise indicated.

About HLB

HLB International is a global network of independent professional accounting firms and business advisers. Formed in 1969, we service clients through our member firms in 159 countries, with 32,839 partners and staff in 968 offices worldwide.