The nation’s financial leaders are positive about the near future of the United States economy. Grant Thornton LLP releases a biannual CFO survey, in which, the most recent survey indicated 47% of CFOs expect the economy to improve during the next six months. In addition, 91% of CFOs are expecting their hiring to increase or at least remain the same in the coming six months, 87% plan on pursuing organic growth in the coming year, 72% plan on introducing new products and services, and 37% are considering a merger or acquisition in the next 12 months. Despite the optimism, Grant Thornton’s CEO believes it is still vital that our political leaders push forward on comprehensive tax and entitlement reforms to boost economic growth.
Bank of America’s Merrill Lynch unit conducted a survey with significantly more positive results. The survey was of 603 financial executives with annual revenues ranging from $25 million to $2 billion, resulting in a fairly wide demographic. From the CFOs surveyed, many believe the economy is at its highest level since the 2008 recession and are expecting growth in their sales, workforce, and companies in 2015. Other highlights included 52% expecting economic expansion in 2015, and 52% expecting to hire additional full-time employees in 2015. They did have some concerns with 56% believing health care costs will negatively impact the economy in 2015 (notably down from 67% in 2014) and 45% voiced concerns about the effects of global conflict on the U.S. economy.
For those looking for employment, CFOs reported they are increasingly investing in and trying their hardest to keep qualified employees with 96% offering health insurance, 92% funding retirement programs, and 87% offering bonuses or other compensation. Over half the CFOs surveyed are also offering wellness programs, education funding, and flexible work hours. Feel free to read more here –
To shed more light on the positive statistics, it sounds like it is a good time to land a job with a larger company for those looking for employment and hopefully a strong 2015 for all the business owners out there.
As always, thank you for reading our blog, happy holidays, and we wish everyone a great 2015.