A brand new survey of 300 US-based CEOs from hiring working agency Greenhouse finds that almost all stay optimistic concerning the financial system however proceed to discover other ways to scale back prices. When prioritizing cost-reducing measures throughout completely different enterprise areas akin to wages, advantages, exterior companies, in addition to advertising and promoting. These surveyed ranked actual property as the world almost definitely to be lower, suggesting that corporations are persevering with to reevaluate their want for expensive industrial rents and enormous actual property portfolios.
“Tightening the belt is a pure and prudent plan of action in a risky financial local weather. Some corporations will probably be pressured to scale back prices to guard future development. Nonetheless, this examine exhibits that CEOs recognize that their expertise is their biggest asset, and they’re contemplating each different plan of action earlier than jobs are misplaced,” mentioned Daniel Chait, CEO and co-founder of Greenhouse, in a information launch. “This recession is notably completely different from earlier ones as a result of in-demand expertise is extraordinarily cellular.”
The examine, performed in early January, additionally exhibits that only a few CEOs (10 p.c) anticipate a lower in headcount, and virtually one-fifth of CEOs even predict that their firm might be able to enhance headcount by as a lot as 30 p.c this yr. The analysis exhibits that 81 p.c of CEOs had been both very optimistic or considerably optimistic concerning the financial outlook for the primary half of 2023, with that quantity rising to 84 p.c for the second half of the yr. Over three-quarters of respondents (76 p.c) plan to extend or preserve their hiring group headcount in 2023.
When it comes to particular job market tendencies, CEOs count on excessive wages (49 p.c), job safety (47 p.c) and healthcare, imaginative and prescient, and dental advantages (40 p.c) to be the principle worker priorities when negotiating new roles this yr, with the report indicating that CEOs don’t anticipate a lot change from 2022 when it comes to the stability of energy. Nearly 40 p.c of CEOs nonetheless count on candidates to be in search of some stage of hybrid or versatile work, and 33 p.c mentioned there will probably be a continued emphasis on range, fairness and inclusion.
“Our inside knowledge helps the suggestions we’re seeing from CEOs. The variety of jobs and gives has decreased, however candidates are nonetheless turning down gives at a fee of 11–12 p.c, exhibiting that they’re nonetheless in an advantageous negotiating place,” mentioned Chait. “CEOs are nonetheless predicting a expertise scarcity and excessive employment ranges, so the businesses that put folks first will discover it simpler to rent.”
Further findings present that the difficult financial setting has the potential to derail or stagnate progress on company social accountability. Local weather motion and ESG have fallen down the precedence listing for a lot of CEOs as they deal with ongoing financial challenges. In response to the surveyed CEOs, the most important points corporations face in 2023 are financial turbulence (64 p.c), rising inflation charges (62 p.c) and workers retention (27 p.c), with ESG and local weather motion rating comparatively decrease.
Obtain the total report right here.
Greenhouse commissioned Zogby Analytics to conduct a web-based survey of 300 US-based CEOs with a minimal of 100 staff. Based mostly on a confidence interval of 95 p.c, the margin of error is +/- 5.7 proportion factors.
