The UK is in the top three countries of the world to invest in according to PwC’s 26th annual Global CEO Survey.
Only 9% of CEOs selected the UK as a market to grow revenue in 2020, compared with 18% who selected the UK this year. The survey is based on responses from 4,410 CEOs from 105 countries and territories.
The UK ranked third jointly with Germany and behind the USA and China. As the Chairman of PwC UK said, “Chief executives don’t expand and invest on a whim — they’re choosing the UK as that’s where they expect to see returns. To keep the UK attractive, we need renewed focus on skills and regional growth, both of which will help unlock productivity.”
The CEOs also recognised that retaining top talent is a mission-critical priority and that they need the help of their teams – C suite leaders, middle managers and frontline employees alike. The CEOs know that engaged, empowered organisations move faster, innovate more readily and collaborate more effectively to get things done. However, there are warning signs that leaders in their organisation don’t often encourage debate and dissent, with over 50% not tolerating small-scale failures.
To continue to encourage investment to the UK, we need to be open for business. This means encouraging senior executives to spend time here on assignment.
In a study by Healthy Companies International, ¾ of Fortune 100 CEOs today have spent a minimum of 2 years working in senior positions abroad. The world’s largest companies are shifting what work experience they want for their senior roles. The study found that 71% of Fortune 100 C-suite executives held senior position overseas compared to 48% just 10 years prior.
The Association of Relocation Professionals is lobbying our Government to increase Tax Allowances, decrease assignment costs and create a more assignee friendly UK. With the UK Relocation industry apparently creating £ 7 billion a year GDP, it makes sense for the Government to create the best environment possible. Please feel free to lobby your MP or please let me have your views and I will make sure they are heard by the people the ARP are lobbying.
Adrian Leach