PR Newswire (04/05/22)
Small and midsize business (SMB) CEO confidence dropped to 84.3 in the first quarter of 2022, according to the latest CEO Confidence Index from Vistage, a CEO coaching and peer advisory organization. Vistage’s quarterly CEO Confidence Index measures SMB leaders’ sentiment on various economic and business factors each quarter. One of the takeaways that the survey highlighted was that hiring remains a priority for CEOs. Sixty-five percent reported they expect to increase their workforce in the year ahead. Seventy-two percent said hiring challenges are impacting their ability to operate at full capacity. For CEOs who are having trouble hiring, 79% are boosting wages, 65% are developing the existing workforce, and 55% are refining recruitment strategies. When asked about the effects of inflation on their business, 87% said wages and compensation had increased.