50% of respondents are concerned about lack of stakeholder trust
CALGARY, Nov. 13, 2014 /CNW/ - CEOs in Alberta have a very positive outlook for the future with 56% saying they're very confident in their growth prospects, according to the 2014 Alberta CEO Survey, released by PwC in Alberta today. Looking ahead into 2015, local optimism in the economy comes from many CEOs expecting the province to fare better than the rest of Canada because of the improving O&G market, new projects coming on stream, and the ability to create partners and move strategic plans forward.
The Survey will be officially launched today at the 2015 Economic Outlook, hosted by Calgary Economic Development, ATB Business, PwC and Suncor Energy. The event provides information to help over 1,000 Calgary business leaders understand the current economic trends that will help them make educated decisions in their 2015 business planning.
Highlights of the report
94% of Alberta CEOs are confident in their growth prospects over the next 12 months, but recognize that doing business in the province presents unique challenges — from increasing market access and stakeholder engagement, to finding and keeping the talent they need to be successful. Below are highlights from the report:
- Headcount is rising – Talent management issues continue to be a significant challenge for Alberta CEOs — critical issues include retaining qualified staff and rising labour costs. Almost 90% of CEOs in Alberta say they expect their headcount to go up over the next 12 months. In fact, the percentage expecting their headcount to increase is more than double that of overall Canadian respondents of our 17th Annual Global CEO Survey (89%, compared to 42%).
- Lack of stakeholder trust – In Alberta, stakeholder trust is a significant issue. Half of the CEOs we spoke with said they're concerned about the lack of stakeholder trust in business. This is slightly higher than the 42% of Canadian CEOs and 49% of global CEOs who voiced similar concerns in our 17th Annual Global CEO Survey.
- Importance of innovation –78% of CEOs we interviewed anticipate at least some increase in their research and development (R&D) and innovation capacity over the next year, up 23% compared to 2013. For private businesses, the pressure to innovate often comes from increased competition and the need to address new regulatory requirements.
Ray Crossley, Senior Partner, PwC
"According to our 2014 Alberta CEO survey, Alberta CEOs are more optimistic than their counterparts across Canada but talent retention and stakeholder relations continue to be a challenge."
To access the full report, visit http://www.pwc.com/ca/abceosurvey.
About the Alberta CEO Survey
For PwC Canada's 2014 Alberta CEO Survey, we conducted in-depth interviews with CEOs and senior executives representing a diverse range of organizations in our province — from publically listed and privately owned businesses to Not for Profit agencies and government organizations. Interviews were conducted during the spring and summer of 2014. This survey is intended to provide insights into important issues that resonate with CEOs, rather than make conclusions about the opinions of all organizations in Alberta, in order to spark further dialogue on how to foster continued growth, innovation and prosperity in the province.
About PwC Canada
PwC Canada helps organizations and individuals create the value they're looking for. More than 5,800 partners and staff in offices across the country are committed to delivering quality in assurance, tax, consulting and deals services. PwC Canada is a member of the PwC network of firms with more than 195,000 people in 157 countries. Find out more by visiting us at www.pwc.com/ca.
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SOURCE: PwC (PricewaterhouseCoopers)