Nine out of ten Spanish CEOs plan to increase the workforce in the next three years, according to KPMG

Nine out of ten Spanish CEOs plan to increase the workforce in the next three years, according to KPMG

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Nine out of ten Spanish CEOs plan to increase the workforce in the next three years, according to KPMG

Complex of the Cuatro Torres in Madrid.Pablo Monge

Almost nine out of ten (86%) of the top executives of large Spanish companies plan to increase the workforce in the next three years, while 90% of them believe that their companies will grow in the immediate future and 80% He is counting on the whole of Spain to do so as well. This is clear from the report CEO Outlook 2021, prepared by KPMG based on the responses of 1,325 CEOs from 11 countries around the world, of which 50 correspond to Spain, belonging to companies with an annual turnover of more than 425 million euros (500 million dollars).

62% of Spanish respondents trust that they will see an expansion of the global economy in the next three years, a figure very similar to the 60% of the average for top executives from the rest of the world. This last figure practically doubles that of last year, when only 32% of those surveyed considered it possible that the global economy had a positive behavior.

“Not even the impact that the delta variant of the covid has had in summer has managed to diminish the confidence in the recovery of the first Spanish executives”, has highlighted the CEO of KPMG in Spain and the next president of the firm from 1 October, Juan José Cano.

Worldwide, 69% of the CEOs consulted assure that they will bet on a non-organic growth strategy through operations such as joint-ventures, mergers and acquisitions (M&A) or alliances. In Spain, this figure drops slightly, as 62% of the top executives surveyed are planning to integrate this type of operation into their growth strategies.

Faced with this, 56% of Spanish CEOs will prioritize the development of their employees’ skills and abilities over the acquisition of new technology, when the global trend is the opposite.

Telecommuting two or more days a week

Likewise, many of the top Spanish executives want to take advantage of the benefits of digitization to build a more flexible work environment. Almost four in ten (38%) believe that in the future, employees will work remotely at least two or more days a week, a percentage very similar to that registered in the group of countries where the survey was carried out. survey (37%).

Of course, with regard to physical work space, only 18% of the first Spanish executives believe that it will be necessary to reduce their offices and, on a global scale, that percentage remains at a very similar level, at 21%.

Promote good practices

Another trend highlighted by Juan José Cano is the general concern for ESG issues (socially responsible investments) and the commitment to sustainability. Almost nine out of ten CEOs in Spain plan to maintain the progress in this regard that their companies have achieved during the pandemic and one in four (26%) assures that from now on their organization will invest at least 10% of their income in sustainability measures and programs over the next few years.

In this sense, 88% of Spanish CEOs, very much in line with the overall result (87%), also recognize that the purpose of their organization is fundamental to build both their brand and their reputation and 68% (64% globally) considers purpose to be the defining objective of its business.

Technological risks

Technological risks (technological disruption and cybersecurity) are, together with environmental ones, the greatest threats to the growth of companies, according to the main Spanish executives. On a global level, the biggest concern is the supply chain. And it is that 56% of global CEOs (and 64% of Spaniards) recognize that their supply chain has been subjected to greater stress during the pandemic, with the automotive and consumer sectors being the most affected sectors.

The study also reveals an increased concern about tax issues. In this sense, 78% of the top Spanish executives believe that the pandemic has increased the need to promote multilateral cooperation in tax matters. And 82% of those consulted in Spain (77% on average in the world) claim to be concerned about the impact that the global minimum tax for multinationals agreed this year by 130 OECD countries may have on the growth objectives of their organization .