CEOs believe they can meet the new challenges, but they have doubts about new revenue

Slovak CEO Survey 2020

Survey conclusions

CEOs in Slovakia were much more optimistic in September 2020 than before the pandemic

One third of CEOs expected a crisis, but not as big as in 2009. In autumn 2019 and January 2020, their expectations regarding the development of the global economy were the most pessimistic for the last eight years. In January 2020, before the pandemic, 10 times more CEOs than two years ago stated they believed the global economy would slow down. Recession was just ahead, but it was not clear to them what it would be like and what would set it off.

Created with Highcharts 9.2.2Confidence of CEOs in Slovakia in global economic growth and their company’s revenue growth was significantlyhigher in September 2020 than in January 2020 and 2019After the highest levels of pessimism at the start of 2020 before the outbreak of the pandemic, the percentage of CEOs who expect an accelerationof global economic growth has tripled. So, optimism has returned, but under significantly changed conditions.14%14%15%15%45%45%25%25%22%22%41%41%36%36%11%11%12%12%49%49%38%38%29%29%40%40%48%48%33%33%58%58%53%53%43%43%38%38%41%41%58%58%48%48%48%48%3%3%34%34%57%57%42%42%35%35%27%27%31%31%Domnievate sa, že sa tempo globálneho ekonomického rastu zrýchli, nezmení alebo spomalí v nasledujúcich 12 mesiacoch? (Zrýchli)Nakoľko veríte v rast svojej firmy v nasledujúcich 12 mesiacoch? (veľmi tomu verím)Nakoľko veríte v rast svojej firmy v nasledujúcich 3 rokoch? (veľmi tomu verím)20122013201420152016201720182019Jan 2020SEPT 20200255075
Created with Highcharts 9.2.2Today, more CEOs in Slovakia believe in their organization’s growth in the next 12 months than at the start of 2020In September 2020, CEOs were also more optimistic as regards revenue growth at their firms, with 84% being very or somewhat confident of theircompanies’ growth. This percentage was 71% at the beginning of the year38%38%29%29%40%40%48%48%33%33%58%58%53%53%43%43%38%38%41%41%40%40%38%38%36%36%31%31%41%41%30%30%26%26%32%32%33%33%43%43%13%13%21%21%17%17%13%13%15%15%10%10%16%16%18%18%25%25%10%10%9%9%11%11%7%7%8%8%10%10%2%2%2%2%8%8%4%4%2%2%Very confidentSomewhat confidentNot very confidentNot confident at all20122013201420152016201720182019Jan 2020Sep 202005101520253035404550556065707580859095100
Created with Highcharts 9.2.2CEOs in Slovakia are very confident that their organizations will be able to provide a safe working environment, retaintalent, manage employee well-being and morale, and balance the needs of all stakeholdersIn returning to the workplace how confident are you in your company’s ability to do following?72%72%85%85%41%41%59%59%52%52%37%37%48%48%38%38%28%28%15%15%56%56%38%38%41%41%55%55%43%43%49%49%Very confidentModerately confidentprovide a safe working environmentretain critical talentmanage employee wellbeing and moralbalance needs of all stakeholders (customers, employees, suppliers, communities and investors)balance needs of all stakeholders (customers, employe…provide clear response and shutdown protocols if cases in your area rose significantly or there was a second wave of infectionsprovide clear response and shutdown protocols if cases…identify new revenue opportunitiesbuild skills for the futuremeet customers’ safety expectations0102030405060708090100110
Created with Highcharts 9.2.2CEOs state that the most important changes for renewing or increasing revenues are needed in product and serviceoffers, pricing strategies, and distribution channelsChanges in which of the following will be most important to rebuilding or enhancing your revenue streams? (Select three.)42%42%39%39%35%35%24%24%18%18%12%12%7%7%75pricing strategies (e.g., increasing/decreasing price of solutions, offering different payment terms)pricing strategies (e.g., increasing/decreasing price of s…distribution channels (e.g., changing from in-person to virtual sales or delivery)distribution channels (e.g., changing from in-person to …talent (e.g., acquiring new talent, upskilling)customer segments (e.g., selling direct-to-consumer, targeting new industries, moving from b2c to b2b)customer segments (e.g., selling direct-to-consumer, ta…geographic markets (e.g., entering new markets, leaving current markets)geographic markets (e.g., entering new markets, leavin…mergers, acquisitions, joint ventures or alliancessupply chain strategies (e.g., develop alternate sourcing options, change contractual terms)supply chain strategies (e.g., develop alternate sourcin…010203040515253545
Created with Highcharts 9.2.2CEOs in Slovakia mostly plan to accelerate automation and implement new ways of working, change workplace safetymeasures and requirements, and improve the remote working experienceWhich of the following initiatives is your company planning to implement once you start to transition back to on-site work? Please select all that apply.52%52%48%48%32%32%26%26%26%26%8%8%7%7%4%4%1%1%54change workplace safety measures and requirements (e.g., wearing masks, offering testing to workers)change workplace safety measures and requirements (…improve the remote working experiencemake remote work a permanent option for roles that allowmake remote work a permanent option for roles that al…change shifts and/or alternate crews to reduce exposurereconfigure work sites to promote physical distancingreduce real estate footprint (e.g., partial opening of offices, retail locations)reduce real estate footprint (e.g., partial opening of offi…evaluate new tools to support workforce location tracking and contact tracingevaluate new tools to support workforce location tracki…provide hazard pay for on-site workers in affected areasoffer targeted benefits for on-site workers in affected areas (e.g., childcare, private transportation)offer targeted benefits for on-site workers in affected a…0102030405051525354555
Created with Highcharts 9.2.2About 38% of CEOs worldwide are considering deferring or cancelling planned investments due to COVID-19 CEOs inSlovakia are mostly considering postponing or cancelling investments in facilities, workforce, and operationsYou mentioned your company is considering deferring or cancelling planned investments as a result of COVID-19. Which of the following investmenttypes are being considered in that regard? (Please select all that apply.)64%64%58%58%22%22%11%11%8%8%6%6%3%3%0%0%67workforceoperationsITenvironmental, social and governance activitiesR & Ddigital transformationcybersecurity or privacycustomer experience0510152025303540455055606570
Created with Highcharts 9.2.2Approximately 62% of CEOs worldwide ARE NOT considering deferring or cancelling planned investments dueto COVID-19 CEOs in Slovakia are mostly planning to realize investments in IT, operations, and digital transformationUviedli ste, že vaša spoločnosť NEzvažuje odloženie alebo zrušenie plánovaných investícií v dôsledku COVID-19. Ktorý z nasledujúcich typov investícií vtejto súvislosti plánujete realizovať? Prosím, vyberte všetky relevantné možnosti.55%55%49%49%47%47%35%35%31%31%27%27%18%18%11%11%62operationsdigital transformationfacilities/general capexcustomer experienceworkforceR & Dcybersecurity or privacyenvironmental, social and governance activities010203040505152535455560

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Věra  Výtvarová

Věra Výtvarová

Country Managing Partner, PwC Slovakia

Tel: +421 259 350 111

Mariana Butkovská

Mariana Butkovská

Marketing & Communications Leader, PwC Slovakia

Tel: +421 904 941 500

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