Many corporate CEOs are pushing for a return to office work, according to a global survey that gets to the bottom of CEO hopes and fears.

KPMG asked over 1,300 CEOs of the world's largest companies their outlook for the next three years. The majority of top managers see geopolitical risks and the fragmentation of the international order as the main obstacles to growth.

However, confidence in the growth prospects of the global economy remains high, according to the latest «2023 CEO Outlook.» Nearly three out of four chief executives are confident the economy will grow over the next three years. That's more than in last year's study when at the height of the global inflation surge the figure was 71 percent.

Rate Hikes Hurts Companies

It doesn't mean, however, that captains of industry aren't expecting difficulties. In addition to geopolitics and the effects of the war in Ukraine, interest rate hikes associated with the inflation crisis are weighing heavily on companies.

A majority of 77 percent of business leaders believe higher borrowing costs and tighter monetary policy could trigger or prolong the risk of a global recession. In addition, more than three in four CEOs believe inflationary pressures are likely to negatively impact their company's growth.

Fewer Home Offices

Business leaders were also asked about corporate strategy. Artificial intelligence (AI) is a key topic among chief executives and among their investment priorities, with 70 percent of CEOs saying they plan to invest in generative AI solutions. The importance of ESG factors in corporate strategies is also increasing. Nearly 70 percent of chief executives say they have integrated ESG criteria into their company as a value-creation tool.

Somewhat surprisingly, the majority of business leaders surveyed (64 percent) are pushing for a return to office work within the next three years, to restore pre-pandemic conditions and organizational models. To motivate employees to return to the office, the vast majority of CEOs, nearly 90 percent, are thinking of using bonuses and other incentives.