Private companies to begin hiring
According to a Pricewaterhouse Coopers survey, a majority of private-company CEOs plan to begin hiring in the next two years.
PwC's Private Company Trendsetter Barometer tracks the business issues and standard industry practices of leading privately held US businesses.
The majority (51%) of Trendsetter chief executives say that they need to fill certain skill gaps to meet their business objectives over the next one to two years, while 49% believe they have the right skills in place.Notably, more international marketers reported that they have skill gaps than their domestic-only peers -- 57% and 46%, respectively. Among private companies overall, the largest skill gaps identified were in middle management (53%) and skilled labor (48%). Those companies with skill gaps will focus on several areas over the next one to two years, including marketing and sales (65%), information technology (36%) and engineering/design (35%).
"Over the past two years, CEOs were focused on cost containment, making deep workforce cuts in anticipation of a protracted recession," says Ken Esch, a partner in PwC's Private Company Services practice. "Emerging from the recession, companies are now shifting their focus, with growth being top of mind these days and executives repositioning their companies for the long term. For many firms, this means making strategic hires in areas that will drive growth, as well as looking carefully at current people and pivotal roles that create value."
Private-company leaders who say their businesses have skill gaps expect to grow at a rate of 11.4% over the next 12 months (compared with a rate of 8.5% among companies claiming to have no skill gaps). They're also planning major new investments (40%, compared with 29% of companies without skill gaps) and plan to hire new employees over the next year (69% with gaps vs. 45% without).
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
