CEO Confidence Index reveals insights from SMB leaders. How do those insights compare to what integration firm leaders are experiencing?
Like many business owners and C-suite executives, integration firm leaders are hungry for updates on how the economy is impacting business and what can be expected in the future.
While many signs point to economic resilience, there are also headwinds to consider; they’re coming from inflation and adjustments to interest rates.
Recently, NSCA Business Accelerator Insperity shared some economic insights with us that we wanted to pass along to you. These insights were gathered by CEO coaching and peer advisory organization Vistage in its annual CEO Confidence Index. Insperity is Vistage’s national sponsor in the professional employer organization (PEO) category.
This report from Vistage shares survey responses from more than 1,400 SMB leaders across the United States to gauge CEO confidence. And their insights echo the good news we’ve been hearing from other sources, such as Dr. Chris Kuehl’s ASIS report and our recent Electronic Systems Outlook report: 55% of surveyed CEOs believe that the economy will improve in 2025, citing decreasing inflation and lower borrowing costs among the reasons why.
Despite this optimism, however, CEOs also know they face challenges—and those challenges sound very similar to the obstacles faced by C-suites in the commercial integration industry.
Talent Acquisition and Retention
Nearly half of surveyed CEOs—45%—say it’s hard to find and retain qualified employees. Despite this, 65% plan to add to their workforce in the upcoming year, as demand for workers continues to rise.
Beyond hiring, they also plan to invest in:
- Training and development to enhance retention and accelerate productivity, with a special emphasis on leadership development
- Succession planning to make sure high-potential employees understand their role in moving organizations forward as their predecessors exit the workforce
- Well-trained sales talent to expand spending and help customers connect to the products and services they need
Economic Uncertainty and Rising Costs
Approximately one-quarter of CEOs—28%—sayeconomic instability, inflation, high interest rates, and escalating costs are still major concerns, even though they believe brighter days are ahead.
Amid these concerns, technology investments remain a significant focus, as CEOs report they are increasingly investing in core and emerging technologies. For example, 45% of CEOs plan to increase their technology budgets to add AI capabilities.
They also plan to invest in facilities, fleets, and equipment upgrades to relieve strains on existing infrastructure and prepare for possible opportunities.
Sales Growth and Revenue Generation
Roughly one-quarter of CEOs—26%—find it difficult to maintain consistent sales growth and generate leads. Regardless of this concern, however, 61% expect increased profits in the year ahead.
Sales training could be an answer for integrators that struggle with these issues. Oftentimes, the answer to improving sales isn’t found in hiring more salespeople or replacing the ones you have—it’s found in training your current sales teams so they’re prepared for any situation, know how to interact with and respond to clients, and can prove the value your company provides.
Where to Go to Learn More
If you’re interested in learning more about what 2025 may bring, you can download the CEO Confidence Index to peruse insights and perspectives.
Also make sure you’re signed up to receive insights from NSCA Chief Economist Dr. Chris Kuehl right in your inbox!
