We recently surveyed our IMI Corporate Members, to find out how ready their organisations are feeling about their readiness for the next 12 months. Our findings identified a number of critical areas that our member companies consider most important. 

Key Priorities for Organisations in 2024 

Organisations were asked to rank the importance of various topics on their business agenda for the next 12 months. The top-ranked areas indicate where most focus will likely be directed: 

Leadership and Management Capability: The majority of respondents (33 out of 55) rated leadership and management capability as a top priority, emphasising its importance in navigating the complex business environment. 

Future Workforce Skills and Ways of Working: Developing skills for the future workforce was also deemed critical, with 22 respondents giving it a score of 10. 

Technology from a Business Perspective (Digital, AI, and Automation): The impact of digital transformation, AI, and automation remains significant, with 21 respondents rating this as a top concern. 

Diversity, Equity, and Inclusion (DEI): DEI continues to be a priority, with 21 respondents scoring it as one of the most important issues for the coming year. 

Readiness to Navigate the Business Agenda 

The survey also assessed the organisation’s readiness to handle their business agendas. 

The majority of organisations scored themselves a 7 or 8 out of 10, indicating that while they were relatively confident that they could navigate into the future, there was still some room for improvement.  

Top Challenges Faced by Organisations 

We asked members to define what the most challenging aspect of leadership was, within their organisation.  

Many respondents cited external political pressures, tight budgets, and stakeholder management as significant challenges, while others said that navigating digital transformation and implementing AI effectively is a struggle, calling out that maintaining pace with technological advancements is a particular issue. 

The constant pace of change, coupled with the need for agile working and adaptation in a hybrid environment, presents a considerable challenge for many of our member companies. Other key areas that were raised include strategy alignment, compliance issues, supply chain volatility, and retention of experienced staff. 

Perspectives on Staff Retention 

When it comes to staff retention over the next 12 months, 54% of respondents believe retention will remain unchanged, while 36% anticipate it will become more challenging. Only 10% think it will be easier, underscoring concerns about maintaining workforce stability in a competitive environment. 

Embracing AI in Business 

Organisations are actively considering their approach to AI, recognising its growing influence. However, perhaps surprisingly, the majority of companies do not yet view AI as a major strategic priority for their business.  

At the moment, only 30% of organisations surveyed view AI as a strategic imperative and are integrating it into their overall strategy. Another 40% are piloting AI initiatives in specific parts of their business. 30% admit they are currently behind the curve but expect to adapt over the next 12 months. 

The Membership Barometer 2024 Survey reveals that organisations are navigating a number of major challenges, including rapid technological advancements, shifting workforce dynamics, and external political and economic pressures. The focus areas of leadership, future workforce skills, digital transformation, and diversity and inclusion suggest that businesses are gearing up for a year of significant change and adaptation. While there is confidence in some areas, there is also a clear acknowledgment of the challenges ahead, particularly in terms of readiness and staff retention. Embracing AI and other digital technologies appears to be a critical step for those looking to stay ahead in a competitive market.

IMI Corporate Members have access to events and thought leadership throughout the year. Find out more about Corporate Membership here.