In July 2020, the Lakeland Economic Development Council conducted a survey administered by Emily Rogers Consulting + Coaching to provide insight to the perspectives of Lakeland CEOs in regards to the economic and business outlook for Lakeland, trends in talent retention and acquisition, organizational culture and the business impact of COVID-19.

1. 2020 LEDC CEO Survey Findings
Administered by Emily Rogers Consulting + Coaching

2. 1. Economic &
Business Outlook

3. Despite the COVID-19 pandemic,
leaders in Lakeland remain
optimistic
71% believe Lakeland’s economy will
improve over the next 12 months
Topic 1: Economic & Business Outlook

4. Of the 82%:
• 63% expect increase in revenue to be moderate
• 18% expect the increase in revenue to be significant
• 84% say it is NOT a result of COVID-19
Revenue growth will be driven by:
• Increase in demand (61%)
• Entry to new markets (43%)
• Gained operating efficiencies (41%)
• New product/service (31%)
• Merged with or acquired a business (20%)
82% of CEOs are expecting
moderate to significant growth for
their organizations
Topic 1: Economic & Business Outlook
Note: Of the 82%, 54% forecast profitability increase, and 23% forecast decrease

5. 2017
76%
31%
2020
82%
20%
Executive team is highly
prepared to achieve growth
plans
Expect growth (moderate to
significant)
29%
While Growth is Expected, CEOs are
feeling significantly less prepared
Topic 1: Economic & Business Outlook
8%

6. Here’s what they need from our community*:
• Talent pipeline (59%)
• Incentives (42%)
• Available real estate (35%)
• Workforce training (18%)
Of the companies that are
considering expansion plans, talent
pipeline is the highest priority
Topic 1: Economic & Business Outlook
* percent of companies that ranked each a #1 or #2 priority

7. Of the 23%:
• 47% expect decrease to be moderate
• 11% expect decrease to be significant
• 100% said it was a result of COVID-19
23% of CEOs (19 companies) are
expecting a decrease in revenue
Topic 1: Economic & Business Outlook

8. Economic & business Outlook
Insight
CEOs are more optimistic than 3
years ago yet,
feel significantly less prepared to
achieve growth plans.
Executive team readiness and talent
pipeline continue to be concerns.

9. 2. Recruiting &
Retention

10. 80% Plan to Hire in the Next
12 Months
Topic 2: Recruiting & Retention

11. More companies have plans to hire,
yet they will be hiring fewer
2017
76%
72%
20%
2020
80%
65%
15%
Plan to hire less than 10
Plan to hire
Plan to hire more than 10
5%
25%
10%
Topic 2: Recruiting & Retention

12. Business Function 2017 2020 % change
Sales 40% 27% 33%
IT/Infrastructure 26% 10% 62%
Engineering 26% 20% 23%
Customer service 25% 17% 32%
Marketing 20% 20% No change
General Management 20% 15% 25%
Operations 18% 13% 28%
Accounting 18% 15% 17%
Finance 18% 13% 28%
Skilled Labor* 0 22% NA
Human Resources 9% 6% 33%
* New hiring area in 2020, not included in 2017
Sales is still the #1 hiring priority
Topic 2: Recruiting & Retention

13. 44%
39%
23%
n/a
27%
35%
31%
18%
9%
20%
2017 2020
Geographic location
Reputation of public schools
Amenities
Housing options
Spouses job
Lakeland is becoming more
attractive to job candidates…
and we still have work to do
Reasons why candidates do not move
to Lakeland
22%
n/a
26%
21%
20%
Topic 2: Recruiting & Retention

14. Most effective tactics used in recruiting
mid-level managers & above
2017
41%
50%
43%
30%
57%
Employee referral programs are
becoming more effective and higher
education is becoming less effective
2020
43%
17%
41%
11%
47%Online portals
Undergraduate colleges/university
Search firm
Employee referral program
Advanced degree program
66%
5%
18%
63%
5%
Topic 2: Recruiting & Retention

15. Ten most effective benefits/incentives offered to mid-level mgrs & above
in 2020
The most effective benefits &
incentives are rapidly evolving
57%
54%
41%
33%
28%
20%
17%
15%
15%
13%
Performance bonus
Retirement savings plan/401k
Flexible work hours
Option to periodically work from home
Continuing education opportunities
Relocation assistance
Signing bonus
Wellness Program
Extended/unlimited PTO
Higher education reimbursement (e.g., MBA)
Topic 2: Recruiting & Retention

16. Employees are less likely to leave
for promotion/higher pay or lack
of a career path
2017
53%
35%
24%
2020
35%
29%
20%
Reasons why employees left co in
last 18 months*
Lack of opportunity/career path
Terminated for lack of performance
Opportunity for promotion or
higher pay elsewhere
34%
16%
17%
Topic 2: Recruiting & Retention

17. 56%
44%More than half (56%)
of companies have HR
representation on their
executive teams
HR representation on executive
teams is on the rise
Still do not
have HR
representation
on their
executive team
Topic 2: Recruiting & Retention
47%

18. Recruiting & Retention
Insight #1
Lakeland is becoming more
attractive to job candidates… and
we still have work to do.

19. Recruiting & Retention
Insight #2
Employee referral programs are
are becoming a more effective
recruiting strategy than higher
education.

20. Recruiting & Retention
Insight #3
The most effective benefits and
incentives are rapidly evolving.
Stay on top of what matters most
to your people!

21. Recruiting & Retention
Insight #4
Employees are less likely to leave
for promotion/higher pay elsewhere
or lack of a career path.

22. Recruiting & Retention
Insight #5
HR representation on executive
teams is on the rise.

23. 3. Executive
Succession Planning

24. Over half of companies still need
to fill executive positions and more
companies need to develop
succession plans
2017
55%
36%
2020
54%
40%
Do not have executive
succession plan
Have 1-5 executive level
positions to fill over the next 3
years
2%
11%
Topic 3: Executive Succession Planning

25. Top succession planning challenges
CEOs are facing
Developing and maintaining a robust internal
leadership pipeline
Identifying internal or external succession candidates
that reflect the needs of the organization
Evaluating internal succession candidate readiness
Aligning succession plan with the strategic needs of
the organization
30%
30%
24%
23%
Topic 3: Executive Succession Planning

26. 2020
33%
Continuing education (e.g., industry conferences, prof. associations)
Leadership development training programs
One-on-one coaching
Industry/technical training
360-degree assessments
Formal peer membership group
Formal mentoring
Executive education (offered through higher educational institutions)
62%
52%
42%
37%
30%
27%
24%
17%
While companies are offering
training opportunities, one-on-one
support is lacking
Topic 3: Executive Succession Planning

27. Executive Succession Planning
Insight
This issue isn’t going away anytime
soon. more planning and pipeline
development is needed.
While more training opportunities
are offered, more intentional one-
on-one support is needed.

28. 4. Mid-level
Leadership
Development

29. mid-level manager hiring needs are
still significant and improvements
have been made in mid-level
succession planning
2017
64%
52%
2020
62%
37%
Do not have mid-level
management succession plan
Have 1-5 mid- level
management positions to fill
over the next 3 years
3%
29%
Topic 3: M-d-level Leadership Development
Topic 4: Mid-level Leadership Development

30. 2020
33%
Continuing education (e.g., industry conferences, prof. associations)
Leadership development training programs
Industry/technical training
One-on-one coaching
Formal mentoring
360-degree assessments
Executive education (offered through higher educational institutions)
66%
57%
45%
36%
28%
26%
16%
While companies are offering
training opportunities, one-on-one
support is lacking
Topic 3: Mid-level Leadership Development

31. Mid-level Leadership
Development Insight
While improvements have been made
in mid-level management succession
planning, there is a need for more
one-on-one support

32. 5. Organizational
Culture

33. Organizational culture is top
of mind for CEOs
73% of companies are assessing
their organization’s culture
78% of CEOs describe their
organizational culture as quite
or extremely healthy
(quite 63%, extremely 15%)
Topic 5: Organizational Culture

34. The tools currently utilized to assess culture include:
• Employee surveys (63%)
• Focus groups and interviews (40%)
• Organizational culture assessment instruments (26%)
• Engage outside consultants (25%)
Most are assessing culture but
might not be utilizing the most
effective tools
Topic 5: Organizational Culture

35. • Only 15% are extremely confident that leadership consistently
holds subordinates and peers accountable to company values
• Only 21% are extremely confident that their culture is a driver
of employee engagement, employee satisfaction and attracts
top talent
• Only 26% are extremely confident that their leadership team
consistently models the company’s values
• Only 34% are extremely confident that their leaders’ actions
and shared organizational values are aligned
Opportunities exist for leaders to
operationalize and leverage
company values
Topic 5: Organizational Culture

36. Organizational Culture
Insight
While CEO perspectives on the
health of their organization’s
culture is quite positive, there are
opportunities to better understand
organizational culture and
operationalize it.

37. 6. Business Impact
of COVID-19

38. Businesses have adjusted to
the new reality
Although 85% of CEOs reported
that all or a portion of their
staff is working remotely,
59% report they are fully
operational and an additional
33% report they are at least
75% operational
Topic 6: Business Impact of COVID-19
Survey administration dates: July 9-23, 2020

39. Even with the majority of
employees working virtually, only
21% of CEOs report a decrease in
engagement and productivity and
21% report an increase
Of those that reported a decrease in
engagement, 65% report that decrease is
20% or less
Of those that reported an increase in
engagement, 47% report that increase is
20% or more
Topic 6: Business Impact of COVID-19

40. A year from now, 64% of CEOs
expect that all or a portion of staff
will be working remotely
Topic 6: Business Impact of COVID-19
45% are concerned about their leaders’
ability to Effectively manage virtual teams
77% expect that real estate needs will stay
the same
22% (18 companies) expect the need to
decrease real estate footprint

41. Business Impact of COVID-19
Insight
Most Lakeland businesses have
adapted well and remain productive.
Looking forward, there are
concerns about leaders’ abilities
to effectively manage virtual teams
and some companies may decrease
their real estate footprint.

42. Summary of Insights
1. CEOs are more optimistic than 3 years ago yet, feel
significantly less prepared to achieve growth plans.
Executive team readiness and talent pipeline continue to be
a concern.
2. Lakeland is becoming more attractive to job candidates…
and we still have work to do.
3. Employee referral programs are becoming a more effective
recruiting strategy than higher education.
4. The most effective benefits and incentives are rapidly
evolving. Stay on top of what matters most to your people!
5. Employees are less likely to leave for promotion/higher pay
elsewhere or lack of a career path.

43. Summary of Insights
6. HR representation on executive teams is on the rise.
7. Recruiting executive and mid-level leaders, continues to be
a high priority.
8. While training opportunities are offered to executives and
mid-level managers, more intentional one-on-one support
is needed.
9. While CEO perspectives on the health of their organization’s
culture is quite positive, there are opportunities to better
understand organizational culture and operationalize it.

44. Summary of Insights
10.Most Lakeland business have adapted well and remain
productive. Looking forward, there are concerns about
leaders’ abilities to effectively manage virtual teams and
some companies may decrease their real estate footprint.

45. Emily strategically advises and supports businesses and individuals in
growing and realizing their full potential in purposeful and balanced ways.
She offers:
• Executive coaching
• Team coaching & development
• Leadership development training
• Strategic planning facilitation
• Keynote speaking
• Individual & organizational assessments
• Organizational culture surveys & assessments
• Life, career & business coaching