Cape Town - Most of South Africa’s executives would consider work opportunities abroad, according to a survey by executive research firm Jack Hammer.
The survey found that 78% of respondents were considering opportunities in other countries. This represents an increase of more than 30% from last year, when the majority of respondents indicated they were here to stay.
Jack Hammer chief executive Debbie Goodman-Bhyat said the negativity was unprecedented and raised serious concerns about an exodus of some of South Africa’s most talented, experienced and qualified leaders.
There were very few traces of optimism among business leaders, she said. “Significantly more people are feeling negative about business growth. Those who were feeling somewhat positive last year are now decidedly negative in their outlook, with little discrepancy between management level and industries.
“Yet many continued to express hope for their own companies’ performance.”
The firm polled senior executives in the retail, financial services and manufacturing sector about their expectations of bonuses, salary increases and business growth in the year ahead.
Goodman-Bhyat said 52% of executives and 52% of middle managers expected to receive an above-inflation raise next year while 11% expected no increase.
“Interestingly, 80% of those with these low expectations are at executive level. It seems that, in 2017, executives, who have greater insight into an organisation’s growth forecasts and revenue targets than their middle-management counterparts, have a much less enthusiastic outlook for the future.”
The SA Payroll Association also said this year had been difficult for most companies as a result of subdued economic growth and negative political sentiment among businesses.