2/24/2009 Maybe the sky isn’t falling after all.
Maybe the sky isn’t falling after all.
A new survey from The Ken Blanchard Companies shows that executives and company leaders are somewhat optimistic that the U.S. economy will rebound this year. Following the 2008 slowdown that has crippled world economies, over 70% of respondents said they expect the economy to begin its recovery sometime this year. Only a quarter of the respondents thought the downturn would continue unabated into 2010.
Results showed signs that many companies are looking inward to survive current conditions instead of resorting to the traditional cuts. Companies seeking to decrease costs along all facets of the organizational structure are not, the survey suggests, primarily targeting personnel and marketing. Only 29% of respondents listed personnel layoffs and cuts as ways their companies plan to cope with the down economy, while marketing cuts came in at 14%. More than 60% plan to invest in productivity and performance-maximizing strategies, while another 46% plan to focus on their corporate branding and differentiation.
The 2009 results represent feedback from more than 1,700 executives, line managers, and training and human resource leaders from a range of companies, industries, and countries. Since 2003, over 6,700 leaders have participated in this ongoing study.
To view the entire Blanchard 2009 Corporate Issues Survey findings, visit http://echo4.bluehornet.com/ct/4205068:4943732696:m:1:375843011:8A60174D4F27D66EA99B2D7A118DBDB0.
What’s your company doing to survive? Layoffs? Pay cuts? Let us know with a comment and get the conversation started! Together we can all weather this current economic downturn.