Growth in uncertain times

Only one third of Australian CEOs feel confident about their revenue growth

Only one third of Australian CEOs feel confident about their revenue growth

41% of CEOs are planning to reduce head count and 73% are planning cost cutting initiatives

Growth Insight Summary

Productivity is going to be key going forward; not just about ‘working harder or squeezing more out of your staff’, rather successfully integrating technology into your company and working smarter.

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There are very large head winds coming from China, and a great deal of uncertainty with what’s happening in the US and the EU. Australia is having to adjust from years of mining-led growth to non-mining led growth – nothing like we’ve seen before, on top of coming off an investment boom like never seen before. That’s a lot for markets, organisations and CEOs to adjust to.

Subsequently, Australian CEOs, like their global counterparts, are less confident about their growth prospects than they were a year ago. Technology, specifically cyber and the speed of technological change are the top two threats for executives.

As a result, CEOs are focusing on cutting costs and reducing headcount. This is short-term thinking. Instead, CEOs should be focusing on innovation and productivity, if they want success longevity. They need to successfully integrate innovation and technology into their business so people and assets work smarter. They need to look ahead and build a business that’s ready for the even more complex marketplace of the future.

"I'm quite concerned about the overall state of the global economy and particularly the level of debt we have... I think we'll see some forces at work that could really damage parts of the world, particularly emerging market economies."

Elmer Funke Kupper, Managing Director and CEO, ASX

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Jeremy Thorpe

Chief Economist & Partner, PwC Australia

Tel: +61 (2) 8266 4611

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