NZ chief executives expect revenue growth to slow. Photo / USA Network
NZ chief executives expect revenue growth to slow. Photo / USA Network
New Zealand chief executives expect to see low revenue growth over the next three years, according to research from KPMG New Zealand.
KPMG's CEO Outlook showed that while almost 90 per cent of New Zealand CEOs surveyed were confident in their growth prospects, there was a "real disconnect" when itcame to revenue growth, with most expecting growth of less than 2 per cent over the next three years.
The consultancy's New Zealand chief executive Godfrey Boyce said a "growth mindset" was needed to achieve growth.
"We need to challenge our low revenue growth expectations and be willing to disrupt our own businesses. Ultimately, this needs to be customer driven," he said.
KPMG said 70 per cent of CEOs viewed digital transformation as a key pillar in their strategy.
"However this is in contrast with CEOs' views on when they'll realise the benefits of digital transformation – 40 per cent of CEOs don't expect to achieve a return on investment within three years."
Other points:
— New Zealand CEOs are planning to increase employee numbers by less than 5 per cent over the next three years – whereas more than a third of CEOs globally expect to increase headcount between 6 per cent and 10 per cent.
— 70 per cent of CEOs intended to partner with third-party data providers to help pursue growth.
— New Zealand ranked the lowest globally in its preparedness for a cyber-attack, with only 48 per cent of New Zealand CEOs viewing their organisation as well prepared.
— 86 per cent saw technological disruption as more of an opportunity than a threat.
— 64 per cent believed their organisation's growth would be determined by their ability to anticipate and navigate the global shift to a low-carbon, clean technology economy.
