Half of organisations saw sales decrease throughout Covid restrictions

Less than a quarter of firms saw the numbers they employed fall

Ibec CEO Danny McCoy said the findings showed that despite the challenges, CEOs are buoyed by the prospect of a vaccine. Photograph: Sasko Lazarov / RollingNews.ie

Half of organisations saw sales decrease throughout Covid-19 restrictions, however, less than a quarter of organisations saw the numbers they employed fall.

That’s according to a new survey by Ibec, which surveyed some 381 CEOs in December about some of the key issues facing CEOs this year.

While the majority of organisations experienced no change or a decrease in sales throughout the period of Covid-19 restrictions, about one in five organisations saw sales increase last year.

Absence rates for employees remained the same in just over half of the respondent organisations (51%), while increasing in just over one-quarter (29%).

Almost two-thirds of CEO’s (65%) agreed with the statement "Covid-19 has meant a permanent change in our business model".

Challenges Ahead 

The economic challenges posed by the global economy (88%) and Brexit (78%) is the top challenge facing the majority of CEOs this year while some are also concerned about the availability of talent (78%), the low carbon transition agenda (50%) and reorientation of business purpose (49%).

Commenting on the survey results, Ibec CEO Danny McCoy said: “In 2021, Irish business will have to deal with a much-altered landscape in both local and global terms, as the new post-Brexit reality continues to take shape and Covid disruptions endure.”  

“The findings show that despite these challenges, CEOs are looking beyond this disruptive period that we find ourselves in, that they are buoyed by the prospect of the widespread availability of a vaccine in the coming months and are now planning accordingly.” 

Goals

The survey’s findings also highlighted CEOs' goals for the future, with four out of five CEOs saying they personally support and strive to create an inclusive workplace culture.  

Some 65% of respondents said they were working to create a “positive social impact” by including environmental social governance goals in their organisational strategy, with half said leading their organisation to a successful low carbon transition is a key current priority.