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CFOs Increasingly Optimistic About U.S. Economy

May 04, 2011
KEYWORDS cfos , economy
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There’s growing optimism about the U.S. economy among chief financial officers (CFO), according to a national survey conducted by Grant Thornton LLP.

Nearly half (48%) of CFOs and controllers surveyed say the economy will improve over the next six months, up from 30% six months ago.

However, CFOs have growing concern grows over inflation: 50% say their company intends to raise prices for its goods/services, up from 31% six months earlier and 24% one year ago.

About 40% of CFOs say their companies plan to add staff over the next six months, up from 28% six months ago, and 54% are optimistic about the future of their own company (up from 46% six months ago).

Regarding the disaster in Japan, 94% say it will affect the U.S. economy, and most believe it will take three to five years for Japan to recover fully.

Are you concerned about a double-dip recession? Oct. 2010 April 2011
Yes 59% 57%
No 42% 43%
Source: Grant Thornton LLC survey of CFOs    

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Great article! Unfortunately, most employees don’t feel valued or appreciated by their supervisors or employers. In fact, research has shown that the predominant reason team members quit their jobs is because they don’t feel valued. This is in spite of the fact that employee recognition programs have proliferated in the workplace – over 90% of all organizations in the U.S. has some form of employee recognition activities in place. But most employee recognition programs are viewed with skepticism and cynicism – because they aren’t viewed as being genuine in their communication of appreciation. Getting the “employee of the month” award, receiving a certificate of recognition, or a “Way to go, team!” email just don’t get the job done. How do you communicate authentic appreciation? We have found people have different ways that they want to be shown appreciation, and if you don’t communicate in the language of appreciation important to them, you essentially “miss the mark”. Additionally, employees need to receive recognition more than once a year at their performance review. Otherwise, they view the praise as “going through the motions”. A third component of authentic appreciation is that the communication has to be about them personally – not the department, not their group, but something they did. Finally, they have to believe that you mean what you say. How you treat them has to match the words you use. If you are not sure how your team members want to be shown appreciation, the Motivating By Appreciation Inventory ( will identify the language of appreciation and specific actions preferred by each employee. You then can create a group profile for your team, so everyone knows how to encourage one another. Remember, employees want to know that they are valued for what they contribute to the success of the organization. And communicating authentic appreciation in the ways they desire it can make the difference between keeping your quality team members or having a negative work environment that everyone wants to leave. Paul White, Ph.D., is the co-author of The 5 Languages of Appreciation in the Workplace with Dr. Gary Chapman.

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