Why Are So Many CEOs So Gloomy?
Companies are hiring more workers. Investors are excited about stocks. Even consumers are getting a little more optimistic. So why is there talk of looming major layoffs? And why is CEO pessimism so high, according to recent surveys? Korn Ferry looks for reasons. Also, the latest Briefings Podcast highlights how the push for pay transparency is creating some difficult conversations around the office. Plus, our experts highlight how to jump-start your career in 2024—without necessarily finding a new job.
Suddenly Doom & Gloom?
In its last two months, 2023 had more than its fair share of good economic news. Inflation continued to moderate. Companies kept hiring. Stocks hit new highs. Even holiday spending seemed strong.
But what a difference turning a single page of the calendar can make. In one survey, four in ten firms say they plan layoffs in the New Year; in another, 53% of CEOs say they expect economic conditions to worsen in the first half of 2024. This is in sharp contrast to the investors supporting them, 94% of whom expect things to improve in the near term (only 16% of leaders do).
Briefings Podcast:?When Payday Becomes Public
With new regulations requiring companies to post salary ranges, firms are facing a lot of awkward conversations from workers who feel underpaid. Yet many companies still don't seem ready for this. In this Briefings Podcast episode, a leading pay expert discusses some steps smart leaders can take.
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5 Ways to Start the New Year Strong—Careerwise
Wherever they may be on the corporate ladder, everyone wants to get ahead in 2024. Many people assume a new job is the answer. Indeed, one recent survey found that more than one-third of workers plan to quit this year.
But experts say making improvements internally is the better way to go, especially with many firms anticipating hiring freezes and layoffs. There are many moves that can not only have a positive effect on your career but also help you feel more engaged. The trick is finding the right steps to take in today’s environment.
Other Must-Reads from Korn Ferry
Check out?Briefings, our bimonthly national magazine, for in-depth and unusual looks at critical leadership issues.
Helping companies rethink Talent Acquisition ?? | Ex-Founder, Dyson & BBC | Future of Work Enthusiast | Visual Thinker ?? ??
1 年Great post! Regrettable redundancies (to reduce costs temporarily) can be avoided by loaning talent to other companies via secondment and having 90% of employment costs reimbursed monthly whilst your employee upskills. The sooner this is done, the sooner confidence will return to perm hiring We're already doing this at ditto
Human Resources Consultant @ UNOPS | MBA, HR Management
1 年The apparent contradiction between increased hiring, investor enthusiasm, and consumer optimism, coupled with the discussion of impending layoffs and high CEO pessimism, highlights a complex economic landscape. Korn Ferry's exploration of these trends and the podcast's focus on pay transparency shed light on the nuanced challenges shaping today's business environment.
Advogado | Palestrante | Especialista tributário | Auxilio executivos (as) a reestruturarem seus negócios | Reorganiza??o societária | Educa??o financeira | Compliance | Mentoria para advogados(as)
1 年Excellent article. Congratulations.