Survey of Canada's corporate titans shows high expectations for 2003, but majority still having problems finding talent
Canadian corporations expect 2003 to be a healthy year for the bottom line, according to a survey of chief executive officers.
A KPMG/Ipsos-Reid survey, Canada’s Most Respected Corporations, polled 314 CEOs across the country to get an indication of the expectations for this year’s economy.
The results show 71 per cent of CEOs are confident their own company is likely to do financially better in 2003 than it did last year, up from 64 per cent who expressed the same view about 2002.
But this year’s numbers are still down from the 85 per cent who expressed this view in 2001 and the 75 per cent who did so in 2000. Roughly eight per cent of CEOs expect 2003 to be a worse, down from 18 per cent who thought the same about 2002.
Hiring boom?
Many CEOs also expressed confidence their workforce will continue to expand, as 50 per cent said hiring is likely over the next two years while 14 per cent expect their workforces to be downsized. A further 35 per cent expect no change in the number of staff.
The bottom line? About half expect to hire more, about a third are likely to stand pat and one-in-ten are likely to trim the ranks.
According to the survey, this represents a continued and steady decline in expectations since 2000 when 62 per cent indicated workplace expansion plans, followed by 63 per cent in 2001 and 57 per cent in 2002.
The number of CEOs who anticipate downsizing has remained relatively static over the last four years.
War for talent continues
The pinch of a scarce employment marketplace is still being felt, as 68 per cent of CEOs said it’s difficult to find people who have the skills they need for their company.
This is consistent with the trend established in 2000 where 55 per cent had this view, growing to 61 per cent in 2001 and topping out at 70 per cent in 2002.
This year’s results show 32 per cent of CEOs aren’t having any difficulty in finding people, compared with 29 per cent the year before.
Business spending flattens
Spending intentions are soft compared to last year, as 46 per cent of CEOs indicate they’ll be increasing their business spending over the next 12 months, down from 52 per cent the year before.
About 16 per cent said business spending is likely to decrease, while 37 per cent expect it to stay the same.
This is the eighth annual survey conducted by KPMG and Ipsos-Reid. The survey was conducted between August 6 and Nov. 30, 2002. The survey involved a randomly selected sample of 314 CEOs in Canada. The results are considered accurate to within 4.7 percentage points, 19 times out of 20.
A KPMG/Ipsos-Reid survey, Canada’s Most Respected Corporations, polled 314 CEOs across the country to get an indication of the expectations for this year’s economy.
The results show 71 per cent of CEOs are confident their own company is likely to do financially better in 2003 than it did last year, up from 64 per cent who expressed the same view about 2002.
But this year’s numbers are still down from the 85 per cent who expressed this view in 2001 and the 75 per cent who did so in 2000. Roughly eight per cent of CEOs expect 2003 to be a worse, down from 18 per cent who thought the same about 2002.
Hiring boom?
Many CEOs also expressed confidence their workforce will continue to expand, as 50 per cent said hiring is likely over the next two years while 14 per cent expect their workforces to be downsized. A further 35 per cent expect no change in the number of staff.
The bottom line? About half expect to hire more, about a third are likely to stand pat and one-in-ten are likely to trim the ranks.
According to the survey, this represents a continued and steady decline in expectations since 2000 when 62 per cent indicated workplace expansion plans, followed by 63 per cent in 2001 and 57 per cent in 2002.
The number of CEOs who anticipate downsizing has remained relatively static over the last four years.
War for talent continues
The pinch of a scarce employment marketplace is still being felt, as 68 per cent of CEOs said it’s difficult to find people who have the skills they need for their company.
This is consistent with the trend established in 2000 where 55 per cent had this view, growing to 61 per cent in 2001 and topping out at 70 per cent in 2002.
This year’s results show 32 per cent of CEOs aren’t having any difficulty in finding people, compared with 29 per cent the year before.
Business spending flattens
Spending intentions are soft compared to last year, as 46 per cent of CEOs indicate they’ll be increasing their business spending over the next 12 months, down from 52 per cent the year before.
About 16 per cent said business spending is likely to decrease, while 37 per cent expect it to stay the same.
This is the eighth annual survey conducted by KPMG and Ipsos-Reid. The survey was conducted between August 6 and Nov. 30, 2002. The survey involved a randomly selected sample of 314 CEOs in Canada. The results are considered accurate to within 4.7 percentage points, 19 times out of 20.
