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Survey Shows Optimistic Executives
Forty percent of those surveyed expect to maintain the same number of employees in 2003.
The AMA surveyed its executive members and corporate customers in November and December 2002. Of the 376 respondents, 90 percent said that they anticipate their organizations will offer raises, 69 percent expect to offer promotions and 68 percent anticipate bonuses in 2003.
Of those executives that expect to grow their U.S. work force this year, 75 percent say they experienced or anticipated a greater demand for their products or services.
According to respondents, 57 percent said that there is an adequate supply and 31 percent said there is an abundant supply of skilled workers in their fields from which to recruit, compared to 31 percent who said that qualified candidates were scarce.
Of those organizations that anticipate reducing personnel, 44 percent cited organizational restructuring and 40 percent noted a lower demand for products or services as reasons.
Other factors included a multitude of reasons. Thirty-nine percent cited improved staff utilization, 31 percent said re-engineering of business processes, 22 percent noted automation or other new technology, 20 percent cited outsourcing or contracting, 13 percent reported transfer of work or production to other localities, 12 percent added loss of government funding or contracts and 12 percent said downsizing would result from a merger or acquisition.
While 15 percent of the organizations that responded will terminate product offerings in 2003, more than twice as many companies anticipate that there will be major new product developments.
The American Management Association is the world’s leading membership-based management development organization. More than 500,000 AMA customers and members a year, including 486 of the Fortune 500 companies and many government agencies, learn superior business skills and best management practices through a variety of seminars, conferences and executive briefings, print and online self-study courses, books, research studies and on-site and customized learning solutions.