ALL RIGHT ON MANY OF US EXHALED
A SIGH OF RELIEF AS THE CLOCK
STRUCK MIDNIGHT ON JANUARY
FIRST
2021. BUT WILL THIS YEAR BE
THAT MUCH BETTER THE CONFERENCE
BOARD CEOS AROUND THE WORLD
WHAT THEY WERE MOST WORRIED
ABOUT
THE SEA THEIR AND THEIR ANSWERS
WERE ILLUMINATING JOINING ME
NOW IS DANA PETERSON CHIEF
ECONOMIST AT THE CONFERENCE
BOARD AND A GREAT TO HAVE YOU
WITH US ON THE SHOW TODAY.
A LOT OF DATA TO GET TO BUT
FIRST TELL US ABOUT THE
INSPIRATION BEHIND THE SURVEY
AND WHAT KINDS OF ANSWERS YOU
WERE EXPECTING.
>> WELL WE DID THE SURVEY ONCE
A C SUITE
INCLUDING CEO AS FINANCIAL
OFFICERS AS WELL AS CHIEF
HR OFFICERS THE ANSWERS WE
EXPECT TO HEAR SOMETIMES
NOT REALLY. WHAT WE'RE THINKING
IS GOING TO HAPPEN. BUT
BE TOP 5 CONCERNS EXTERNAL
CONCERNS AMONG US HE'S WE
PERSONS WHO ACTUALLY NOT THAT
SURPRISING
TO US CONCERNS ABOUT
COVID-19 WAS NUMBER ONE
RECESSIONS NUMBER 2 AND ALSO
DISTRIBUTION OF THE VACCINE WAS
NUMB 3 ALL THOSE THINGS ARE ALL
INTERRELATED AND ACTUALLY
WEREN'T TERRIBLY SURPRISING FOR
US.
>> SO DANA LOOKING AHEAD TO
2021 1 THE LASTING IMPACTS THAT
CEO'S AND COMPANIES EXPECT
GIVEN WHAT WE SAW GO DOWN IN
2020 AND IS CONTINUING INTO
THIS YEAR.
>> THAT'S REALLY GREAT A LOT OF
COMPANIES ARE BELIEVING THAT
REMOTE WORK IS GOING TO BE
SOMETHING THAT'S GOING TO HAVE
A LASTING EFFECT. WELL
FOCUS ON
SOCIAL ISSUES AND CLIMATE
CHANGE ARE BIG ISSUES FOR
MANY FIRMS. WE WOULD IMAGINE
THAT FIRMS ARE ALSO GOING TO BE
THINKING ABOUT RECRUITING.
THE BEST AND CERTAINLY WHEN IT
COMES TO THINKING
NOWHERE COMPANIES NOW HAVE THE
PICK OF THE LITTER THEY CAN
LOOK FOR PEOPLE WHO ARE NOT
ONLY IN PROXIMITY TO WHERE
THEIR OFFICES ARE.
BUT ALSO IN OTHER REGIONS OR
OTHER COUNTRIES SO WE THINK ALL
THESE THINGS ARE GOING TO BE
VERY IMPORTANT FOR CEO'S.
>> AND DANA, IT SOUNDS LIKE
YOU'RE JUST SHOWING US CEO'S
SEEMED TO HAVE MORE FAITH AND
MAYBE INTERNATIONAL
COUNTERPARTS AT THE
COVID BACK SEEN MEANS BUSINESS
WILL RETURN TO NORMAL WERE SOME
INSIGHTS THERE AROUND CEOS
CONFIDENCE IN VACCINE
DISTRIBUTION.
>> YES, ABSOLUTELY AND THE LAND
THAT HAS TO DO WITH THE FACT
SOME AND MORE VIABLE VACCINES
THAT HAVE ALREADY COME TO
THE FORE HAPPENED IN THE U.S.
AND WE'VE ALREADY STARTED
ROLLING OUT NEED IT'S BEEN A
LITTLE BIT SLOW
THE PROGRESS BUT CERTAINLY MANY
OF OUR THOUGHTS ARE THAT MANY
BUSINESSES
WILL ANTICIPATE THEY CAN START
AND SORRY GOVERNMENTS WILL
LIFT RESTRICTIONS AS HE'S BACK
SCENES BECOME MORE WIDELY
AVAILABLE. WE'RE HOPING BY THE
MIDDLE OF THIS YEAR.
>> DAN AND WE'VE BEEN HEARING
EVEN PREPANDEMIC
THAT HAVING.
>> COMPANIES MOVE THEIR
HEADQUARTERS AWAY FROM THOSE
COASTS TO OTHER REGIONS IS
ACTUALLY GOOD IN TERMS OF
DIVERSIFYING
THEIR HIM WE BASE GETTING
PEOPLE WHO CAN IN SOME CASES
AFFORD TO LIVE IN THESE
URBAN CENTERS. IN THEIR
EMPLOYEE RANKS WHAT DO CEOS
LOOK FORWARD TO IN TERMS OF
HIRING ESPECIALLY SINCE REMOTE
WORK IS GOING TO CONTINUE FOR
SOME TIME AND WE'RE SEEING A
LOT OF THESE COMPANIES ACTUALLY
MOVE THEIR HEADQUARTERS.
>> WELL HOPEFULLY THIS WILL ALL
BE POSITIVE FOR HIRING OUR
REMOTE WORK DOES OFFER UP TO
THESE 4 PEOPLE AGAIN WHO DON'T
LIVE WALK NEAR LARGE CITY
CENTERS THAT TEND TO BE MORE
EXPENSIVE. HOWEVER WE ARE
CONCERNED ABOUT IT. BUSINESSES
ARE LOOKING TO CUT COSTS IN
THIS MANNER WHERE THEY'RE
THINKING ABOUT LOWERING
AS THEY AS AS AS EMPLOYEES MOVE
AWAY FROM BIG CITY CENTERS OR
THEY'RE LOOKING AT HIGHER AND
LOWER COSTS
YEAR JURISDICTIONS OR PLACES
WHERE YOU KNOW REGULATORY
ACTIONS ARE A LITTLE BIT AND
THERE COULD BE SOME WAGE
COMPRESSION BUT CERTAINLY ALL
THESE THINGS ARE I MEAN
CERTAINLY WITHIN THIS IS WORTH
THE NOT
INTERNAL CHANGES, CHANGING
THEIR BUSINESS MODEL AND
LOWERING COSTS AND STREAMLINING
PROCESS EASE WE'RE VERY LOW
DIGITAL THINKING ABOUT
INVESTMENTS IN TECH KNOWLEDGE,
IAN, HOW ON
A NATION AND TECH AND DIGITAL
DIGITALIZATION CAN BUSINESS
BECOME MORE EFFECTIVE IT NOT
ONLY WITH RESPECT
TO LABOR, BUT ALSO WITH RESPECT
TO EVERY ASPECT OF
A FUNCTIONING.
>> DANA THE WORDS MY HUSBAND
USED A LOT IN THE LAST YEAR,
ESPECIALLY AROUND BIG TECH IN
REGULATING THE SOCIAL
PLATFORMS. HOW ARE CEOS
THINKING ABOUT REGULATION IN
THIS YEAR.
>> WELL IT'S NOT SENDING CEOS
AS WELL AS GOAL CEO IS ONE OF
THE MOST CONCERNED
ABOUT REGULATION. I THINK SOME
OF THAT THE U.S. HAS TO DO WITH
THE INCOMING ADMINISTRATION
WHERE.
>> THE
A FUTURE PRESIDENT
WAS INCLUDING INCREASING
REGULATION AND ALSO IN DOING SO
THE DEREGULATORY ACTIONS OF THE
PRIOR ADMINISTRATION. SO IT
MAKES SENSE THAT BUSINESSES ARE
KIND OF CONCERNED ABOUT THAT
AND THINKING ABOUT WHAT IT
MEANS FOR THEM.
>> YOU FOUND
THAT CHINESE.
>> THOSE ARE MORE WORRIED THAN
US III OWES ABOUT ANOTHER
RECESSION GIVE ANY INSIGHT AS
TO WHY THAT IS.
>> I MEAN THAT'S ACTUALLY QUITE
SURPRISING JUST GIVEN THE FACT
THAT WE LEARNED YESTERDAY
TRYING TO ROUGHLY 2 AND A
QUARTER PERCENT. LAST YEAR MAY
BE THE ONLY
ECONOMY THAT AND SAW AN
INCREASE IN GROWTH, BUT AGAIN
WE LOOK AT THAT BIRTH IN CHINA,
IT WAS QUITE LOPSIDED A LOT OF
IT WAS.
US FEW TOWARDS A STEEL
OPERATIONS STATE OWNED
ENTERPRISES RATHER. I'M ALSO
GOVERNMENT SUPPORTS FISCAL
SUPPORTS AND ALSO PERSONS WHO
ARE AT THAT THE HIGHER END OF
THE
INCOME SPECTRUM. BUT YOU KNOW
MANY PEOPLE WHO LIVED IN RURAL
AREAS OR OR
LESS AFFLUENT CERTAINLY DID
HAVE CHALLENGES LAST YEAR AND
AND AND EVEN THOUGH CHINA
EMERGED WITH A POSITIVE GROWTH
RATE, THE REST OF THE WORLD
STILL PROBABLY GOING TO SEE
NEGATIVE RED STATES LAST YEAR,
POTENTIALLY SOME SOFT PATCHES
EARLY THIS YEAR SO THERE ARE
STILL
THAT THE GLOBAL RECOVERY MAY
NOT HAPPEN AS QUICKLY, BUT
THAT'S NOT OUR BASE CASE
SURVEYS CASES THAT WE'LL
PROBABLY SEE GROWTH OF AROUND
4.4% GLOBALLY AND THAT BIG
ECONOMIES LIKE THE
U.S. AND. EUROPE WILL BOUNCE
BACK AND SEE P