More Executives See Signs of Recovery Following March Stock Market Rally
LOS ANGELES, Apr. 8 /PRNewswire-AsiaNet/ --
- Despite Acknowledging the 'Severe Recession,' Percentage of Executives
Who Believe the Economy is Recovering Nearly Doubled in March -
Buoyed by a sustained stock market rally, executive attitudes about the
state of the global economy ticked up in March, though the majority still
feel we are in the midst of a "severe recession" according to results from
the latest Executive Quiz released today by The Korn/Ferry Institute.
Additional findings show that executives favor limited involvement by
governments in key corporate actions such as layoffs and compensation limits,
but the majority feels that bonuses should be returned by executives at
companies receiving government bailout funds.
When surveyed at the beginning of March, just seven percent of executives
felt that the global economy was recovering, while more than three quarters
(76 percent) said it was in severe recession. However, when re-asked the same
question at the end of the month, 13 percent of executives felt the economy
was recovering and those believing it was still in severe recession declined
by nine percent (67 percent).
Other responses probed executive sentiment towards government involvement
in corporate actions. Just 11 percent of executives feel that government is
the most important player in leading us out of recession, while business (16
percent) and consumers (17 percent) earned slightly stronger support, and 56
percent believe that all three are equally important.
Forty-seven percent of executives are against compensations caps, while
another 22 percent are neutral and just 31 percent are in favor. However, 60
percent of respondents believe that executives at government-supported
companies should give back bonuses.
"We are all hoping that we have hit bottom and are on the way back up,
but our survey results show that executives are conflicted about the
relationship between business and government," said Joe Griesedieck, vice
chairman and managing director, CEO Services for Korn/Ferry. "What executives
do agree upon is that consumers, business and government all play vital roles
in our recovery."
Methodology
The Korn/Ferry International Executive Quiz is based on a global survey
of executives registered within the firm's online Executive Center,
ekornferry.com. Respondents from more than 70 countries, representing a wide
spectrum of industries and functional areas, participated in the most recent
Executive Quiz in March 2009.
About The Korn/Ferry Institute
The Korn/Ferry Institute was founded to serve as a premier global voice
on a range of talent management and leadership issues. The Institute
commissions, originates and publishes groundbreaking research utilizing
Korn/Ferry's unparalleled expertise in executive recruitment and talent
development combined with its preeminent behavioral research library. The
Institute is dedicated to improving the state of global human capital for
businesses of all sizes around the world.
About Korn/Ferry International
Korn/Ferry International (NYSE: KFY), with more than 90 offices in 40
countries, is a premier global provider of talent management solutions. Based
in Los Angeles, the firm delivers an array of solutions that help clients to
identify, deploy, develop, retain and reward their talent. For more
information on the Korn/Ferry International family of companies, visit
SOURCE: Korn/Ferry International
CONTACT: Asia Pacific,
Carol Lo,
+65.6231.6219,
carol.lo@kornferry.com, or EMEA,
Juerg-Herbert Baertschi,
+44 20 7312 3178,
juerg-herbert.baertschi@kornferry.com,
both of Korn/Ferry International; or
The Americas,
Kevin Oates,
+1-310-584-8331,
kevin.oates@ketchum.com, for Korn/Ferry International
Translations:
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