News: 93% of US business executives plan to cut or maintain spending in immediate future: Report

Workforce Management System

93% of US business executives plan to cut or maintain spending in immediate future: Report

Despite serious concerns about what the future holds, there is also optimism when looking ahead, specifically with regards to the younger generation (15%), belief in human kindness (13%), ingenuity (11%) and technology (10%).
93% of US business executives plan to cut or maintain spending in immediate future: Report

According to a new report from Oomiji, a large majority (93%) of US business executives say they are planning on maintaining or cutting their spending levels in the immediate future. Among those who say they are cutting back (34%), uncertainty is the top reason (46%), followed by fears of inflation (21%).

The majority of respondents (64%) also said that businesses should put more emphasis on promoting values that will improve the world. Similarly, nearly two-thirds of respondents say they believe that governments and businesses need to cooperate to address supply chain challenges. Close to a third (30%) of respondents cited political extremism and threats to democracy as their top fears about what’s to come.

Despite serious concerns about what the future holds, there is also optimism when looking ahead, specifically with regards to the younger generation (15%), belief in human kindness (13%), ingenuity (11%) and technology (10%).

“Americans are still struggling after years of disruption stemming from the pandemic, and evolving threats like the war, climate change and supply chain disruptions have led to a broad shift in concerns and behaviors among many in the business community,” said Jon Stamell, CEO and founder of Oomiji. “Despite that, we see yearning for cooperation and enduring hope that we can work together to overcome these challenges.”

Prolonged uncertainty and existential angst have led to a massive reassessment of values and priorities. It appears that leaders are now seeking more cooperation, connection and collaboration in the face of ongoing challenges. 

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Topics: Workforce Management System, #FutureOfWork, #FutureofJobs

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