As a result of the turmoil on the markets,
the business community has begun to take preventative measures before
the ink is even dry on their budgets. A survey of 139 leading
executives who are members of the CEO Club found that 61.2 per cent had
made plans to “postpone investments”. The list of investments that will
be postponed is headed by “human resources”.
Click images to see the table.
percent said that they are unable to forecast when they will be able to
implement the postponed investments. Despite this picture, there are
also those who will push ahead. They say “We won’t give
HR FIRST TO BE POSTPONED
results of a survey by Capital magazine of the members of the CEO Club
showed that, in the prevailing environment, 61.2 per cent of CEOs say
that they are going to halt or postpone investments.
The list of
measures to be taken by CEOs who are planning to postpone investments
is headed by “halting the employment of human resources” with 16 per
cent. One of these CEOs is Selçuk Tümay, the Turkey General Manager for
Pernod Ricard, the French drinks giant.
“We have postponed
recruitment of new personnel and our plans for the launch of new
products,” he says. Tümay explains that they took the decision to
postpone investments because of the political and economic uncertainty
and the volatility in the foreign exchange rate.