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 "81% of CEO's expect business to be better by Q4"
Below are the takeaways from the Q1 BC Tech CEO survey. We are currently compiling data from Q2 so if you haven’t responded to the survey already please do so now as the Q2 survey will close very soon.
If you are the CEO of a BC technology company and have not received an email from me requesting your participation in the CEO survey please let me know at don@corporate.bc.ca.
The response rate on the Q1 survey exceeded 25% and we are hoping for an equally strong response to the Q2 survey. The results are always interesting on their own but the relative comparison to the Q1 survey could prove telling. Let me know if you would like the complete Q1 survey results.
Q1 Survey Highlights
- Q1 revenues and profits down for 29% of respondents
- R & D investment remained flat
- 81% expected business to be better by Q4
- 83% stated that upgrading their existing team in Q2 was a priority
- 72% were planning to hire staff in Q2
- 42% laid off staff in 2008 and 28% had layoffs in Q1 2009
- 30% expected more layoffs in Q2
- Compensation for existing staff held steady in Q1, in some cases increasing
- 12% expected new hire compensation to be lower 33% of CEO’s said that supply either strongly or moderately exceeded demand for non-management candidates with at least 5 years experience
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