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Most CEOs anticipate hybrid working model - KPMG

Around a quarter of CEOs here say they plan to reduce their physical footprint or office space as a result of the pandemic
Around a quarter of CEOs here say they plan to reduce their physical footprint or office space as a result of the pandemic

Around two thirds of Irish chief executives surveyed by KPMG say they expect that most employees in their organisations will be working remotely at least two days a week.

That is significantly higher than the global picture where just over a third reported a similar expectation.

Around a quarter of CEOs here say they plan to reduce their physical footprint or office space as a result of the pandemic and the resulting changes to work habits.

That was as high as 88% last year.

"The office is here to stay as the focal point for the vast majority of companies," Seamus Hand, Managing Partner of KPMG in Ireland, said.

"However, Irish business leaders increasingly recognise the need for greater flexibility and a strong organisational culture given the changing nature of talent acquisition and retention," he said,

"Transformation of operating models will enable employers of the future to expand their reach into a wider pool of talent," he added.

Irish CEOs were also optimistic about the domestic economy with confidence back at pre-Covid levels, the seventh KPMG Irish CEO Outlook found.

72% expressed confidence in the growth outlook compared to 56% last year.

The vast majority were confident about the prospects for their own organisations but had modest expectations for revenue growth.

Just over half said they were anticipating growth of 2.5% over the next three years with 36% expecting revenue growth of up to 5%.

Mergers and acquisitions, joint ventures and strategic alliances were likely to be the main drivers of growth, they highlighted.

"CEOs in Ireland are seeing opportunities and are actively looking at growth strategies to help them get ahead of the competition," Seamus Hand said.

"However, they are acutely aware of managing risk and getting it right on issues such as the future of work, cyber security, disruptive technology and supply chain issues will be critical if they are to deliver on their growth ambitions," he added.