CEOs in Hungary are more optimistic than their counterparts in other countries about the future, according to PwC’s latest Hungarian CEO Survey. Globally, 82% of CEOs are confident about their own prospects for revenue growth, while in Hungary 84% of CEOs reported the same.
As regards the global economy, 54% of Hungarian CEOs expect growth, compared to only 27% of global CEOs. Hungarian CEOs are also more optimistic about the Hungarian economy’s growth prospects: 59% expect growth, which is up from 51% last year. It is also clear from this year’s responses that the lack of qualified professionals is of particular concern to CEOs and makes them value their existing employees more.
Hungarian CEOs are optimistic about both global (54%) and Hungarian economic growth (59%). The decision makers wordwide are more pessimistic: only 27% is confident about the global economic growth.
CEOs in Hungary are more optimistic than their counterparts in countries on other continents about both the domestic and the global economy, as well as about their own growth prospects. The majority of Hungarian CEOs see more opportunities for their companies than they did three years ago.
In Hungary technological advances became the most important megatrend: the majority of CEOs believe it will transform stakeholder expectations of businesses within their sector over the next five years.
The majority of CEOs anticipate a multi-polar world rather than a globalising one: with multiple value systems, rules of law, economic and trading models.
Comparing to last year’s 62%, now 85% of CEOs think that the lack of skilled workers is starting to negatively impact business competitiveness and economic growth in Hungary.
While global CEOs are mostly concerned about overregulation (79%) and geopolitical uncertainty (74%), for the vast majority of Hungarian CEOs (85%) the lack of qualified professionals is the top concern.
Recognising the importance of workforce retention shaping the workplace culture has become as important as pay and financial incentives (42%) and strategic succession planning (41%).
The role of technology is increasing: 77% of Hungarian CEOs plan to use technology to understand and address wider stakeholder expectations, citing CRM systems and social media as the technologies that provide the highest return for stakeholder engagement. 59% of CEOs use non-nancial indicators such as feedback from employees to measure their success.
PR Manager, PwC Hungary