MADRID – With more than 3.5 million unemployed, Spain still has a corporate culture with great confidence in the future. Most Spanish CEOs of major companies foresee revenue growth and workforce expansion.
No less than 90% of Spanish CEOs of companies with a turnover of more than €500 million see business growth in the short term, marking the end of the corona crisis. Additionally, 86% expect to expand their workforce in the next three years. This is shown by a worldwide survey (CEO Outlook 2021) by the Dutch consultant KPMG.
Global confidence in economic recovery
Of executives surveyed, 80% expect employment and business growth to occur across Spain in the next few years. Respondents from 10 other countries have the same confidence in KPMG’s survey. This gives large companies an overall positive picture of the economic recovery. However, in the same survey last year, only 32% of all respondents indicated economic growth was possible. Whereas, in this year’s survey that had already increased to 62%.
The CEOs believe they can achieve growth with a more organic business, strategic partnerships and own business investments. Three risks have to be addressed, namely digital insecurity, climate change and obstacles in the supply chain.
More and more hybrid workers
According to consultant José Cano and future CEO of KPMG Spain, Spanish CEOs attach particular importance to investing in new technologies and protecting their companies against possible cyber attacks. The ongoing digitization should also stimulate hybrid working. As such, 4 out of 10 Spanish CEOs surveyed expect their employees to work from home at least 2 days a week.
The research also shows that CEOs are increasingly aware of their social and civic responsibility. This concerns themes such as gender equality, diversity, inclusion and climate change. As such, 72% of Spanish board chairpeople say “big companies have both the financial and human resources to help governments solve major societal challenges”.
For example, 26% of board members in Spain will invest at least 10% of turnover in sustainability programs and measures in the coming years. According to Cano, CEOs in Spain are pushing for further public-private partnerships to achieve the climate goals.
The CEOs also want to integrate the other mentioned social and societal challenges into their growth strategies. But 45% of them indicate that they do not expect this to go smoothly.