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July 20, 2015

CEOs looking to hire as global economy booms

Around 66% are apprehensive about the relevance of their products and services.

By CBR Staff Writer

69% of CEOs in Europe are confident about the ability to grow over the next three years, with the majority positive about the prospects for global economic growth.

In comparison to last year, 66% of CEOs in Asia Pacific and 52% in the US also said that they were confident about the prospects of their companies in the coming years.

According to 2015 KPMG CEO Outlook Study, 78% of the CEOs across the globe said that they are expected to enter into a hiring mode through mid-2018.

The study also showed that CEOs across the globe are worried about the increasing competitive pressures, with 86% worried about the loyalty of their customers in the coming years.

Nearly 72% are concerned whether they will be able to keep up with the technological advancements and 66% are concerned about the relevance of their product and service during the next three years.

The survey also revealed that 44% are not completely satisfied with their current business model, and 5% admitted to be ‘uncomfortable’ with their current business models.

Nearly half of the respondents also claimed that they have not fully implemented a company-wide process for innovation.

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The respondents in Europe and Asia claimed that they were more focused on operational efficiency rather than growth.

The CEOs said that they plan to invest more on overseas expansion with US based CEOs eyeing European market and CEOs from China, Japan planning to invest more on their expansion in the UK, Germany, Spain and France.

KPMG global chairman Veihmeyerm said: "CEOs continue to confront business challenges of unprecedented complexity.

"Many CEOs in our study have repeated what I am hearing when I meet with business leaders-that they need to take more calculated risks with their growth strategies."

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