Swiss CEOs pessimistic about business but ready for challenges

The biggest concern of Swiss business leaders is inflation. Keystone / Ennio Leanza

Swiss business leaders are concerned about multiple crises, including inflation, but they are more optimistic about long-term growth than their global counterparts. 

The effects of the pandemic, the energy crisis, supply chain problems, rising prices and labour shortages are all of concern to them, according to the survey of around 100 companies published by PwC on Monday ahead of the World Economic Forum (WEF) in the Swiss mountain resort of Davos.

Business leaders need to tackle “multi-level crisis management”, according to PwC Switzerland CEO Andreas Staubli.

The biggest concern of Swiss business leaders is inflation, which worries 43% of them. This comes ahead of global conflicts and cybersecurity problems, the main worry in previous surveys. Another problem is that almost 70% of bosses believe that skill shortages will affect profitability in the next ten years, compared to well under 60% globally. More than 70% do not want to reduce their workforce, 60% even want to increase it, and almost 85% refuse to lower salaries.

Long-term growth

However, they are more optimistic than their global counterparts about long-term growth. In total, 39% of those surveyed by PwC Switzerland are very or extremely confident about their turnover this year. The share rises to 60% for the next three years.

More than 70% of the managers even believe that their company will be profitable for more than ten years if they continue on their current path. More so than their counterparts.

“All of them are convinced that they can manage the crisis with agility,” said Staubli.