Of those who participated in the poll, 46% expect to see exponential business growth this year, while 31% expect their business performance to remain steady, but unchanged from 2014. And, 17% of respondents said they believe they would see a decrease in business volume, which is up from last year.
Another 6% of respondents selected the “Other” option and submitted their own predictions, including:
- Uncertain, but hopeful
- Will experience additional growth, but only in some areas of business
- Soft economy ups and downs throughout the year, but no substantial growth
This is the third year we’ve asked this same question, and the overall trend has been more or less positive, with a most notable decrease in the number of respondents who expect to see a slowdown in business performance from year to year.
Business Performance Predictions for 2014:
- Expect to see exponential growth – 50%
- Expect to remain steady, but unchanged – 43%
- Expect to see a decrease in business activity – 7%
Business Performance Predictions for 2013:
- Expect to see exponential growth – 43%
- Expect to remain steady, but unchanged – 31%
- Expect to see a decrease in business activity – 26%
Significant obstacles to success are looming
While the overall trend for the past few years has been positive, there are many challenges that businesses are being forced to address that have the potential to derail the forward momentum.
Bersin by Deloitte, a business services and research company, recently released their “Predictions for 2015” report that hits on many of the key trends that have been making a significant impact on business, and will likely become even more significant in the year ahead.
A few key insights from the report include:
1. Employee engagement and retention issues will continue to be a major challenge
“Low engagement today is a significant business risk. In today’s transparent job market, employment brand and employee engagement have become synonymous. If people are unhappy at work, then they are likely telling others—making it harder to hire good people. So, a focus on engagement is a high priority everywhere.”
2. Workers are overwhelmed, and it’s time to take more significant steps to address it
“Deloitte’s global human capital trends research shows that more than two-thirds of all organizations believe that their employees are “overwhelmed” with too much information, too many projects, too many meetings and phone calls, and an always-on 24×7 work environment.”
3. Skilled workers are at a premium, and will continue to be a major driver of competition
“Almost every research study we perform (and most of the ones we read) talks about the scarcity of critical skills in the workforce—this problem never seems to go away. As technology and business trends evolve, professionals at all levels have to continuously reskill themselves to stay current and relevant.”
You can download Bersin by Deloitte’s full “Predictions for 2015” report here.
What are your predictions for the new year? What are the biggest obstacles standing in your way? Let us know in the comments section below.
Refresh Leadership is brought to you by Express Employment Professionals.