July 12, 2002
Metroplex executives look on the bright side
By Jeff Bounds Staff Writer
NORTH DALLAS — Optimism about the economy is gradually picking up among big-company executives, and those in the Metroplex have a rosier view than the rest of the country, according to a new survey.
Dallas executive-search firm The Broadmoor Group’s poll of 190 executives, primarily from Fortune 500 companies, found 61% expect business conditions in their companies to improve in the next six months. Only 2% expect a decline, while the remaining 37% believe things will remain the same.
But among the roughly 100 Metroplex-based executives who took part, some 75% believe their companies’ positions will improve in six months, with 22% predicting the status quo, according to Broadmoor.
“I’d say it’s cautious optimism,” said Randall Neal, senior vice president and managing director at the Broadmoor Group. “They feel that definitely the economy, as it affects their company, has bottomed out and won’t get worse.”
Overall, Metroplex executives expect to do more hiring of senior-level talent than the rest of the country within that same six-month window — 30% locally compared with 11% nationwide. Less downsizing of executives is expected here — 10% compared with 16% nationwide.
The number of local respondents who planned to increase staff grew from 19% in January. But the number planning reductions grew to 10% in June from 8% in January.
Contact DBJ writer Jeff Bounds at firstname.lastname@example.org or (214) 706-7122.