Companies across the nation anticipate higher revenue in the next 12 months, a survey conducted by the Corporate Executive Board shows – and they are more bullish on hiring as a result.
Seventy-six percent of executives now think their company's revenue will rise over the coming year, from 68 percent three months ago. In addition, 62 percent believe their firm's industry is poised for growth, 12 percentage points more than last quarter.
The growth expectations are leading executives to plan more hiring. Fifty percent of the people the CEB polled say their firm's total headcount will rise, from 48 percent in the last survey.
With the labor market beginning to moderate, companies may also do more to keep their existing employees. Forty-seven percent of the executives that the CEB surveyed anticipate increased levels of employee engagement.
"The uptick in optimism we see among senior executives," CEB Global Research executive director Michael Griffin said, "reflects a moderation in concerns about downside economic scenarios as well as increased confidence from continued sales and earnings growth in a challenging economic environment."