CEOs confident as recession looms
Australian chief executives are certain their companies will survive the global financial crisis, according to the Australian Institute of Management (AIM).
Nearly 90% of the 528 CEOs and top-level executives surveyed believe the Australian economy is well placed to withstand the full impact of the economic crisis and remain positive about their company’s future prospects.
Despite being confident, 20% of respondents said their companies are looking at downsizing and retrenchments, with skilled employees most likely to avoid the axe.
A third of those surveyed – including the 6% of respondents in the finance and insurance industries – said their companies will be increasing expenditure on professional development and training over the next year.
Just 11% said their companies have not been affected by the economic downturn while a quarter have been significantly affected and 55% have suffered a loss in revenue since the downturn began.
Nearly 90% of the 528 CEOs and top-level executives surveyed believe the Australian economy is well placed to withstand the full impact of the economic crisis and remain positive about their company’s future prospects.
Despite being confident, 20% of respondents said their companies are looking at downsizing and retrenchments, with skilled employees most likely to avoid the axe.
A third of those surveyed – including the 6% of respondents in the finance and insurance industries – said their companies will be increasing expenditure on professional development and training over the next year.
Just 11% said their companies have not been affected by the economic downturn while a quarter have been significantly affected and 55% have suffered a loss in revenue since the downturn began.