Hope 'n Change, ya'll, Hope 'n Change...
To get a better glimpse into where these decision makers stand at this perilous moment in history, we launched the Harvard Business Review Economic Survey earlier this month and contacted 1389 executives — the majority director level and above — from the U.S., UK/Europe, and Asia. We focused on three areas of questioning: Their confidence in the global economy this year and in the next decade, whether or not they were confident their companies would hit their revenue targets this year and next, and whether they anticipated increasing their hiring in the next fiscal year.
The news — particularly around hiring — is not good: Only 31% of respondents in the US and UK/Europe said they planned to increase their hiring efforts next fiscal year. The news out of Asia was slightly better, with 41% planning to increase hiring. This general trepidation most likely can be explained by respondents' fears of an impending second global economic recession: 70% believe another global economic recession is either somewhat or very likely in the coming months. Also telling is the respondents' estimates of their own companies' performance, with only mixed confidence in their near-term organizational performance.
It's not just folks like OS on small-town main street that says we're headed in the wrong direction at about 100 mph. The GreatAndGood at places like NBC, NYT, CNN, and the White House call us ig'nrant rednecks when we suggest things aren't going well and a change is needed. What names to they plan to call these 1389 respondents?
Actually, they won't call them any names at all. They'll simply ignore the fact that the survey was taken or published, even by HBR.
That'll make everything ok. No worries. Just keep on watching 'Dancing With The Stars'...we've got this all under control.
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