{"id":1616695,"date":"2022-08-19T13:47:00","date_gmt":"2022-08-19T17:47:00","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1616695"},"modified":"2022-08-19T13:47:02","modified_gmt":"2022-08-19T17:47:02","slug":"businesses-to-slash-headcount-while-using-more-automation-survey-shows","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/businesses-to-slash-headcount-while-using-more-automation-survey-shows\/","title":{"rendered":"Businesses To Slash Headcount While Using More Automation, Survey Shows"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbusinesses-to-slash-headcount-while-using-more-automation-survey-shows%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1616695&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Half of American <a href=\"http:\/\/dailywire.com\/topic\/business\" target=\"_blank\" rel=\"noopener\">business<\/a> leaders plan to reduce <a href=\"http:\/\/dailywire.com\/topic\/unemployment\" target=\"_blank\" rel=\"noopener\">headcounts<\/a> at their companies, according to a new survey from accounting firm PwC.<\/p>\n<p>As <a href=\"http:\/\/dailywire.com\/topic\/recession\" target=\"_blank\" rel=\"noopener\">inflationary<\/a> pressures and other economic bottlenecks propel the United States into a <a href=\"https:\/\/www.dailywire.com\/news\/white-house-does-preemptive-damage-control-as-economy-heads-toward-recession\">technical recession<\/a>, large companies have <a href=\"https:\/\/www.dailywire.com\/news\/recession-fears-lead-big-tech-companies-to-pause-hiring-cut-jobs\">slowed hiring<\/a> or introduced layoffs. According to the <a href=\"https:\/\/www.pwc.com\/us\/en\/library\/pulse-survey\/managing-business-risks.html\">survey<\/a>, 46% of businesses are decreasing signing bonuses and 44% are rescinding job offers, while 50% are \u201creducing their overall headcount, even as business leaders remain concerned about hiring and retaining talent.\u201d<\/p>\n<p>Indeed, Americans have continued to <a href=\"https:\/\/www.dailywire.com\/news\/americans-continue-to-opt-out-of-the-workforce\">opt themselves out<\/a> of the job market in the wake of COVID and the lockdown-induced recession. The labor force participation rate has dropped from 66% in 2008 to 62% in 2022, falling 3% between February 2020 and April 2020 alone ahead of a slow recovery, according to data from the <a href=\"https:\/\/fred.stlouisfed.org\/series\/CIVPART\">Bureau of Labor Statistics<\/a>.<\/p>\n<p>Yet companies are still pressed to find talent equipped with technological ability. Roughly 63% of businesses have \u201cchanged or are planning to change processes to address labor shortages,\u201d according to PwC, marking a 7% increase from its January survey. In order to increase access to talent \u2014 which 38% of respondents named as a serious risk \u2014 companies are expanding opportunities for remote work, pursuing acquisitions, or changing human resources strategies.<\/p>\n<p>\u201cIronically, as businesses pivot even more toward automation, it\u2019s critical to find employees with the right combination of deep functional knowledge and technology know-how,\u201d PwC explained. \u201cWithout the right talent, automations can fail to deliver on promised efficiencies and increase operational risk.\u201d<\/p>\n<p>In the wake of President Joe Biden signing the Inflation Reduction Act, business leaders are concerned about potential tax implications. The legislation created a 15% book minimum tax with differing effects across multiple industries, according to an analysis from the <a href=\"https:\/\/taxfoundation.org\/book-minimum-tax-analysis\/\">Tax Foundation<\/a>, which explained that the provisions \u201cwould have distortionary impacts on investment, and may prove ineffective as a stable revenue raiser.\u201d<\/p>\n<p>While 28% of the survey\u2019s respondents cited tax policy as a serious business risk, 41% of executives in the pharmaceutical and life sciences sector said the same due to the law\u2019s provisions geared toward lowering the costs of prescription drugs and health insurance.<\/p>\n<p>Meanwhile, business leaders remain concerned about the effects of inflation, although to a somewhat lesser extent than earlier this year. Roughly 62% of respondents predict that inflation will \u201cremain elevated for the next 12 months\u201d \u2014 a decline from 69% of respondents who said the same in January.<\/p>\n<p>Respondents also listed building \u201ctrust\u201d as an important business goal, with 65% affirming that they are focused on \u201crefining their trust strategy\u201d over the next year. PwC noted a link to the <a href=\"https:\/\/www.dailywire.com\/news\/esg-the-invisible-fist-of-the-economy\">stakeholder capitalism<\/a> movement, which posits that companies have a mandate to blend the maximization of profits with involvement in social issues.<\/p>\n<p>\u201cAs the yardstick for company performance expands beyond financial metrics, companies have an imperative to build trust and transparency among different stakeholder groups \u2014 employees, customers, suppliers, regulators and the communities in which they operate,\u201d PwC explained. \u201cThis includes both doing the right things and communicating clearly on topics such as reporting and tax transparency.\u201d<\/p>\n<p>American investors, however, are not necessarily on board with such endeavors. While 29% of respondents to an exclusive poll from <a href=\"https:\/\/www.dailywire.com\/news\/poll-by-two-to-one-margin-investors-reject-woke-companies-pushing-political-causes\">The Daily Wire<\/a> agreed it is a \u201cgood thing\u201d for companies to leverage their financial power for political or social means supported by executives, 58% \u2014 twice as many \u2014 said it is a \u201cbad thing.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Half of American business leaders plan to reduce headcounts at their companies, according to a new survey from accounting firm PwC. As inflationary pressures and other economic bottlenecks propel the United States into a technical recession, large companies have slowed hiring or introduced layoffs. According to the survey, 46% of businesses are decreasing signing bonuses &#8230;<\/p>\n","protected":false},"author":1,"featured_media":1028569,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1616695","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1616695","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1616695"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1616695\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1028569"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1616695"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1616695"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1616695"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}