by cutting-edge tools and technology. Highly engaged workforces have higher retention and productivity rates. Providing an empowering and secure workplace equipped with the best tools, technology and led by high-quality bosses creates the optimal platform for performance. CEOs should control the elements of execution by defining and amplifying the culture, and providing the physical tools and workspace. They choose and empower bosses to promote strategy, define activities and goals, and maintain standards for performance. 3. Workforce competition Workforce velocity - which is measured by quit rates, open headcount and days to fill - is a phenomenon of the Aftermath Economy. Stubbornly high quit rates are fuelled by an insatiable demand by small and medium sized businesses for talent. While big companies, particularly those in the tech industry, have announced mass layoffs this year, 60% of Vistage CEOs plan to increase headcount. This, in turn, leads to increased open headcount rates that are taking longer to fill with someone less experienced and asking for more compensation. Competing for talent begins with retaining the current workforce. Compensation matters, but now flexibility and employee experience become competitive differentiators in the never-ending talent wars. 4. Get close to customers Everyone is dealing with the Aftermath Economy, including your customers. They are struggling with the same economic, workplace and workforce challenges. Getting closer to your customers is always the right answer, but more so in the aftermath. Communicating price increases provides an opportunity to reinforce value and understanding of the customer’s needs. Partnering in hard times yields benefits when growth returns. It’s also an opportune time to call on your competitors’ top accounts to determine if there are needs that you can fulfil better than your competition. While CEOs need to focus on nailing the fundamentals in order to see growth, there’s also scope to "AI drives productivity, won't replace strategic decisionmaking."
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