C-suite barometer outlook 2025

“These findings offer an interesting glimpse into the dynamic landscape of Irish business, reflecting both the optimism and the challenges that lie ahead for local leaders in a rapidly changing global environment. The macro environment has already shifted significantly since this survey was conducted with geopolitic­al tensions intensifying and the potential economic impacts still somewhat unclear. It will be important that business leaders build resilience and headroom into their business plans.” Tom O'Brien Managing Partner Forvis Mazars in Ireland

Our C-suite Barometer: Outlook 2025 examines the views, challenges and strategic priorities of today’s C-suite leaders around the world. This independent research was conducted between 28 September and 23 October 2024 and captures the views of 1,706 C-suite leaders at for-profit organisations with annual revenues of over $1m across more than 35 countries. The Irish survey consisted of 55 for-profit organisations with half of respondents comprising CEO, Chair or Board level from organisations with annual turnover exceeding $100m.

This latest study reveals a business world focused on opportunities for growth and expansion in a more competitive environment.

Irish business leaders are more optimistic about their growth prospects when compared with their global counterparts according to the latest Annual Global C-Suite Survey from Forvis Mazars. The survey reports that 96% of Irish C-suite leaders have a positive outlook for 2025, compared with the global average of 93%.

Despite their optimism, challenges are emerging for Irish business leaders with changing economic trends (40%), increased competition (38%) and new technologies (38%) cited as major trends impacting companies. Confidence in managing these key challenges is particularly low among Irish executives (31%) and is six points lower than the global average (37%).

Growth opportunities

C-suite leaders in Ireland agree with the majority globally that transforming IT/technology is a top strategic priority (47%). Launching a new product/service (Ireland: 31%; Global 24%) and adapting to climate change (Ireland: 29%; Global: 21%) are higher priorities for Irish leaders compared to their global peers.

The most important source of growth for C-suite leaders in Ireland is organic growth (Ireland: 42%; Global: 37%), followed by strategic alliances (Ireland: 22%; Global: 25%. International expansion is also a potential growth opportunity with 80% of businesses in Ireland planning some international expansion in the next five years, with the neighbouring UK the top destination targeted. Key challenges for those expanding internationally are understanding local regulations (48%) and securing a local workforce (57%).

AI & technology

While transforming IT and technology is a top strategic priority for C-suite leaders in Ireland, they are less likely to have a clear strategy to harness the opportunities presented by AI and technology than their global peers by a margin of some 10 percentage points (Ireland: 58%; Global: 67%).

Whilst 75% of Irish executives recognise the impact that AI and GenAI will have on business and expect its influence to be higher than their international counterparts (Ireland: 96%; Global: 87%), they are reporting lower levels of adoption than elsewhere (60%, ten percentage points below the global average).

Over half of Irish business leaders (56%, 14 percentage points higher than global average) believe that AI will lead to changes in roles and to job displacement in their organisation and 80% have highlighted the ethical factors arounds the use of AI and GenAI as being a significant concern.

83% of Irish executive consider that these ethical concerns can be addressed by strong AI regulation, much higher than the global average of 75%.

Commenting on the survey, Dera McLoughlin, Head of Consulting for Forvis Mazars in Ireland said: “This study echoes what we are seeing on a day-to-day basis with our clients in Ireland. Most Irish executive recognise the enormous potential of AI and GenAI to support and grow their businesses, to streamline work functions, increase efficiency and quality, but also that they also come with serious security, ethical, and intellectual property risks. As AI adoption accelerates, organisations must move beyond simple tool implementation and focus on developing comprehensive AI frameworks – focusing both on the power and potential of the tools and models but also on their governance, risk, security and data management challenges.”

Sustainability & adapting to climate change

The biggest sustainability reporting challenges for executives in Ireland include identifying the audience for their reports (41% vs 25% globally), selecting the right provider (37% vs 26% globally) and navigating regulatory requirements (33% vs 23% globally). In contrast, global executives are more focused on data quality (33% globally vs. 19% in Ireland).

When it comes to sustainability reporting priorities, diversity & inclusion (D&I) leads in Ireland, followed by the circular economy. Irish executives rank climate and carbon reporting as a lower priority compared to their global peers (39% vs. 57% globally). Additionally, three in five Irish executives (60%) – in line with global trends – view ESG reporting requirements more as a cost than an opportunity.

Reflecting on the results, Liam McKenna, Sustainability Partner in Consulting for Forvis Mazars in Ireland said: “Irish business leaders appear to face greater challenges in the early stages of sustainability reporting, requiring more support from external advisors to navigate regulatory requirements and identify key stakeholders. This contrasts with their global counterparts, who are more focused on ensuring high-quality data capture for reporting.

This may indicate Irish companies are earlier in their reporting journey. For companies and organisations not subject to mandatory reporting, it is essential to carefully assess and commit to the most suitable reporting standard. Rushing into a framework without fully understanding its implications could result in costly revisions in the future.”

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