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CEOs positive about recruitment, PwC finds

Jan 23
Tags: PwC
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CEOs positive about recruitment, PwC finds

Business leaders in the UK are confident about recruitment and the prospects for their organisation, despite some concerns around the global economic outlook, according to PwC.

The firm's latest annual CEO Survey, published at the World Economic Forum in Davos, Switzerland, revealed that 61 per cent of chief executives expect to increase headcount in 2019.

This marks a significant improvement from 54 per cent last year and compares favourably with 53 per cent of respondents globally who anticipated growth in hiring over the coming year.

British business leaders appear confident about recruitment despite some concerns about the global economy, with more than a third (34 per cent) anticipating an economic decline in the next year. This is an almost threefold increase from the 12 per cent who held this opinion 12 months ago.

More than eight out of ten respondents (82 per cent) had a positive outlook about their own company's revenue prospects for 2019. While this proportion is in line with the global average, it is down from last year's figure of 88 per cent.

Kevin Ellis, chairman and senior partner of PwC, said UK CEOs appear optimistic that "there are always opportunities for growth", regardless of market conditions and broader economic uncertainty.

He added: "By investing in talent, technology and developing new business models, companies can adapt and innovate to thrive. CEO confidence on hiring is a very positive sign."

Other key findings showed that the availability of skills is the number one concern for British chief executives, with more than three-quarters (79 per cent) of those surveyed highlighting this issue as a worry.

Companies' eagerness to acquire the skills they need could be one of the key factors in plans to step up recruitment.

As far as technological innovation is concerned, more than seven out of ten CEOs (72 per cent) said artificial intelligence will significantly impact how they do business in the next five years.

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Image: sturti via iStock

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