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Abstract: Invisible conducted this survey of 400 randomly sampled American business leaders on November 17, 2022. Respondents’ organizational roles included C-Suite executives, senior management, and middle management. Read the accompanying report here.
Q1. Has your concern over an economic downturn increased, decreased, or stayed the same in the last 3 months?
- My concern has increased - 66%
- My concern has decreased - 12%
- My concern has stayed the same - 22%
Q2. Is your company preparing for a recession? If so, how? (select all that apply)
*Percent (Respondents) is calculated by dividing each answer count by the total unique respondents.
- Yes, by freezing hiring - 27% (19.39%*)
- Yes, by cutting staff - 31.75% (22.80%*)
- Yes, by cutting projects - 28.5% (20.47%*)
- Yes, by cutting software, apps, or other tools - 15.25% (10.95%*)
- No, my company is not preparing for a recession - 36.75% (26.39%*)
Q3. Has your business been negatively impacted by economic volatility? If so, how? (select all that apply)
*Percent (Respondents) is calculated by dividing each answer count by the total unique respondents.
- Yes, our revenue has stagnated or decreased - 34.5% (28.22%*)
- Yes, our sales have stagnated or decreased - 35.5% (29.04%*)
- Yes, we are unable to meet KPIs - 15.25% (12.47%*)
- No, my business has not been negatively impacted - 37% (30.27%*)
Q4. In your opinion, is your company well-equipped to withstand a recession?
- Yes - 69.75%
- No - 30.25%
Q5. Has your company adopted more automation technology in response to economic volatility?
- Yes - 51.25%
- No - 48.75%
Q6. Do you plan on adding more automation technology to your business before the end of the year?
- Yes - 53.5%
- No - 46.5%
Q7. Is your company actively hiring or is hiring on hold?
- My company is actively hiring - 38%
- Hiring is on hold at my company - 62%
Q8. About how long do you expect the hiring freeze to remain?
- Through the end of 2022 - 31.45%
- 3 months or more - 27.82%
- 6 months or more - 25.81%
- I expect the hiring freeze will be in place indefinitely - 14.92%
Q9. Is the inability to grow the headcount on your team holding you back from achieving your business goals?
- Yes - 52.82%
- No - 47.18%
Q10. If you could outsource and/or automate some of your team’s work, would you feel as though your business goals would be achievable?
- Yes - 69.25%
- No - 30.75%