As Confidence in the Economy Rises, It May Be Time to Start Hiring
BY Abigail Tracy
In a new survey, CEOs of large U.S. companies say they expect their businesses to grow in 2014 and express optimism about the global economy
If you've been unsure about whether to increase your company's headcount this year, the results of a new survey might be a signal that it's time to do so.
According to a new report unveiled at the World Economic Forum in Davos, Switzerland, the majority of the CEOs of large companies surveyed expect to hire more people in 2014, reflecting a surge in confidence in their businesses and in the economy as a whole.
For its 17th annual Global CEO survey, audit and consulting firm PricewaterhouseCoopers interviewed 1,300 CEOs from 68 countries about their business expectations for this year. Of the 162 U.S. CEOs in the survey, 62 percent expect to hire more people in 2014, the highest level in the past five years.
The survey found increasing optimism among U.S. CEOs about their companies' outlook this year--36 percent said they are confident in prospects for revenue growth, an increase of 6 percent from 2013. The percentage of U.S. CEOs planning cost-cutting initiatives in 2014 declined to 61, from 73 last year.
Confidence in the global economy increased as well: 40 percent of U.S. CEOs surveyed expect the economy to improve in 2014, up from 15 percent last year. A mere 4 percent predicted a decline.