Vistage CEO Confidence Index Survey Reveals 79% of CEOs are Investing in Company Culture and Employee Engagement to Drive Productivity SAN DIEGO , Oct. 17, 2024 /PRNewswire/ -- Small and midsize business (SMB) CEO confidence increased in Q3 with the Vistage CEO Confidence Index rising to 85.1.
Responses were captured in a survey conducted by CEO coaching and peer advisory organization Vistage just before the Federal Reserve announced interest rate cuts. The Q3 results marked a modest rise from the previous quarter, though below the 2024 high of 85.9 and significantly below pre-pandemic levels.
Despite the slight uptick in confidence, challenges that impacted businesses in the first half of 2024 persisted into the third quarter. While inflation has decreased gradually, the costs of goods and services remain elevated. Interest rates started to fall; however, 60% of CEOs indicated that they do not expect these cuts will impact their businesses until 2025.
Hiring has become easier for more SMBs, and employee retention rates have stabilized as workforce velocity slowed. "Another quarter has passed with only incremental movement in CEO sentiment. However, there is new light at the end of the tunnel: interest rate cuts," said Joe Galvin , Vistage's chief research officer.
"CEOs are homing in on productivity to navigate ongoing economic challenges. Following the Federal Reserve's recent cuts, there's optimism that businesses can invest strategically in efficiency and innovation, sett.
