Benefits June 9, 2010

Private Companies Foresee Growth, Plan to Hire

June 9, 2010 (PLANSPONSOR.com) – The majority (51%) of private company CEOs express confidence in the U.S. economy for the first time since Q207, according to PricewaterhouseCooper’s Private Company Trendsetter Barometer.
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Also, for the first time since the Q208, a majority (53%) of Trendsetter executives plan additions to their workforce over the next 12 months, up from 47% in the prior quarter and up from Q109’s 31%, PwC said. Alternatively, just 4% of respondents are planning to reduce staff over the next twelve months.   

Surveyed CEOs project an average composite workforce increase of 1.5% – off slightly from last quarter’s 1.7% but up from 1.1% one year ago.   

The Barometer found hiring plans are notably higher among small companies – 59% versus 44% – with net workforce growth planned at 5.5%, compared with 1.5% among large private firms.   

PwC said private companies with international operations are slightly more optimistic than their domestic-only counterparts about prospects for the U.S. economy over the next 12 months (53% and 49%, respectively). In line with this optimism, Trendsetter CEOs reset revenue growth projections for the next 12 months, up 1.5 points from the previous quarter to 10%. Both international marketers and their domestic-only peers reported increased revenue projections (11.8% and 8.5%, respectively).   

More information is here.

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