Korn Ferry Survey: 66 Percent of Senior Executives Say a U.S. Jobs Bill Won’t Do Enough to Counteract Europe’s Economy
Los Angeles. June 18, 2012
- 67 Percent of Executives Also Say Public Sector Hiring at the State and Local Level is Moving in the Wrong Direction -
LOS ANGELES, CA, June 18, 2012 – In President Obama’s June 8th press conference, he noted in regard to job creation that “the private sector is doing fine.” While it set off a firestorm of disagreement by political parties, it brings with it the question: If Congress passes a jobs bill, can it be a hedge against international global economic trends, such as Europe's struggling economy?
A survey conducted by Korn/Ferry International (NYSE:KFY), a premier global provider of talent management solutions, asked just that question of senior-level executives – and 66 percent responded that a jobs bill would not be a hedge against global economic trends. Yet, 67 percent of the executives believe that local government hiring is going in the wrong direction. The poll was conducted from June 8-13, 2012 with an opt-in panel of senior-level executives.
The results also revealed that 71 percent of executives surveyed think improving jobs in the construction sector is a key way to help the U.S. economy.
According to Gary Burnison, CEO of Korn/Ferry, “These results pinpoint the confusion in the marketplace. On one hand, executives do not think a jobs bill can counteract the impact of the faltering European economy. Yet, on the other hand, executives believe that state and local hiring is going in the wrong direction.”
“The confusion is understandable though. While a jobs bill can stimulate public sector jobs, executives do not think it can do enough to truly impact the economy. Plus, the fact that executives believe there is a strong need to increase construction jobs indicates that they think we need to invest in infrastructure—yet it is still not enough to solve the present economic woes,” Burnison concluded.
The survey results are as follows:
Do you think if Congress passes a jobs bill, can it be a hedge against international global economic trends, such as Europe's struggling economy?
No opinion (5%)
Do you think state and local government hiring is going in the wrong direction?
No opinion (13%)
Do you think that improving jobs in the construction sector is a key way to help the U.S. economy?
No opinion (8%)
The Korn/Ferry Institute regularly conducts surveys to glean insights on the current workplace and leadership environment. Results are based on surveys of executives globally registered with the firm’s online Executive Center, www.ekornferry.com. The survey was conducted in from June 8-13, 2012.
About Korn/Ferry International
Korn/Ferry International is a premier global provider of talent management solutions, with a presence throughout the Americas, Asia Pacific, Europe, the Middle East and Africa. The firm delivers services and solutions that help clients cultivate greatness through the attraction, engagement, development and retention of their talent. Visit www.kornferry.com for more information on Korn/Ferry International, and www.kornferryinstitute.com for thought leadership, intellectual property, and research.