How are companies feeling about the future? A recent McKinsey survey reports executives are feeling positive about their companies’ ability to rebound: 74% of respondents say they expect companies’ profits to rise over the next 12 months.
The companies that expect profits to decline this year say they will remedy the situation by doing the following:
- 54% will seek an increase in productivity
- 29% will introduce new products or services to gain market share
- 61% will reduce operating costs
- 40% will restructure.
Tip: Play close attention to that 61% figure. Administrative professionals who can helpreduce operating costs by securing more advantageous service contracts, streamline a process or reduce spending, for example, will score big points.