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PwC Pulse 2010What CEOs are sayingIntroductionCEO Confidence Business Performance Foreign DirectInvestmentCEO Priorities People Management Sustainability/Climate ChangeActionsfor GovernmentSurveyMethodologyReviewing contracts –key to cost reductionReviewing contracts scorestop of the league for costreduction initiatives (76%).According to the survey,other cost reductioninitiatives planned overthe next 12 months areinvestment in IT (53%),critically reviewing thesupply chain (47%) as wellas working capital reviews(40%).New products – route toexpansionThe most popular revenueincreasing initiative islaunching new products(73%). Other routes toexpansion are enteringnew markets (42%) andplanning a merger oracquisition (24%). Thesurvey suggests that nowis a good time to growby acquisition with manyCEOs seeing value in themarketplace.Shift in customerspending – key growthstumblerIrish business leaders seethe greatest potential riskto growth prospects tobe the permanent shift inconsumer spending (68%).This is not surprising givenconsumers’ concertedsearch for value in anintensely competitiveenvironment. After thecrisis consumers willdemand an even higherlevel of value and qualityand will be prepared toshop around until they getit, a trend that is unlikely toreverse.Other key risks for growthare lack of available finance(53%) and over-regulation(50%). This highlightsbusinesses need for cashand possible concerns thatover-regulation may bringadditional administrativeburden and costs withoutdelivering additional value.“A quarter of CEOs are seeking a mergeror acquisition.”Chart 9:Potential barriers to growth (% of respondents)0 10 20 30 40 50 60 70 80PricewaterhouseCoopers Pulse 2010 10
PwC Pulse 2010What CEOs are sayingIntroductionCEO Confidence Business Performance Foreign DirectInvestmentCEO Priorities People Management Sustainability/Climate ChangeActionsfor GovernmentSurveyMethodologyChart 10:People management priorities (% of respondents)“Two-thirds of CEOs are planning toredesign their bonus scheme.”0 10 20 30 40 50 60 70 80Chart 11:Elements of reward package to be redesigned (% of respondents)0 10 20 30 40 50 60 70 80Keeping employeesmotivated - top peoplepriorityOver three-quarters(76%) of Irish businessleaders feel that keepingemployees motivated isthe top people priority.Talent development(52%) and reducingpeople costs (45%)also feature strongly.Interestingly, managingunder performance wasa priority for nearly half(43%) of respondentsindicating performanceissues continue to bechallenging for some.Majority plan a payfreezeDespite one of the mostsevere recessions inliving memory, 60% ofrespondents said thatthey did not effect a basicpay reduction in the last12 months. However,nearly three-quarters(73%) of respondentssaid that they expectto implement a basicpay freeze in the next12 months. Some 12%said that they will awarda basic pay increase. Asbusinesses attempt toforge greater linkagesbetween performanceand reward, it is notsurprising that overtwo-thirds (68%) of Irishbusiness leaders plan toredesign their companybonus scheme. Nearlya third are planning toredesign their pensionscheme as well as theirexecutive long termincentive scheme.PricewaterhouseCoopers Pulse 2010 11
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