THE NEW YORK UPSTATE BUSINESS LEADERS STUDY 10 Years of NY CEO's Economic Perceptions
ALBANY
BUFFALO
SYRACUSE
ROCHESTER
Siena College Research Institute
Founded in 1980 at Siena College in New York’s Capital District, the Siena College Research Institute (SCRI) conducts regional, statewide and national surveys on business, economic, political, voter, social, academic and historical issues. The surveys include both expert and public opinion polls. SCRI also conducts studies on the implications of civic engagement, health and wellbeing, charitable giving, gender equality, and societal use of technology. The results of SCRI surveys have been published in major regional and national newspapers, including The Wall Street Journal and The New York Times, as well as in scholarly journals, books and encyclopedias. Survey results are regularly featured on local and national television and radio.
Siena College Research Institute & The Business Council of New York State, Inc.
The Siena College Research Institute has earned a grade A from Five Thirty Eight Pollster Ratings and is a charter member of AAPOR (American Association for Opinion Research) Transparency Initiative. Siena College Research Institutes is a full-service public opinion research center that assists policymakers, business leaders, and civic organizations in gathering and understanding information for strategic planning. If you would like to schedule a consultation about a project please contact Leslie Foster, Business Development Manager at (518)783-4270 or at lkfoster@siena.edu.
The Business Council of New York State, Inc.
The Business Council of New York State, Inc., is the leading business organization in New York, representing the interests of large and small firms throughout the state. Its membership is made up of thousands of member companies, as well as local chambers of commerce and professional and trade associations. Though the vast majority of its members are small businesses, it also represent some of the largest and most important corporations in the world, including IBM, Verizon, Eastman Kodak, Citigroup, JP Morgan Chase, Corning, Pfizer and many more. All told, its members employ more than 1.2 million New Yorkers. The primary function of The Business Council is to serve as an advocate for employers in the state political and policy-making arena, promoting a healthier business climate, sustained economic growth, and more jobs. The Council helps our members cut costs and provide important benefits to their employees through group insurance programs that are known for competitive rates and high-quality service. Additionally, the Council serves as an information resource center, providing an array of news and update services, webinars, networking, human resources guidance, and individualized regulatory and legislative assistance. If you would like to learn more about The Business Council, please visit our website, www.bcnys.org, or contact Howard Becker, our Vice President of Membership, at howard.becker@bcnys.org.
Booklet created by Bryce Perry, BryceAPerry.com, bryceperrymail@gmail.com
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In 2007, the Siena College Research Institute interviewed business leaders from across Upstate New York in order to measure their economic confidence and expectations for the coming year for the first time. These CEO's of for-profit companies with annual sales from $5 million to $200 million have accurately predicted the ups, downs and ‘holding evens’ we have experienced over the past decade, and in so doing, they have provided all business people with invaluable insights into New York’s business environment. CEO’s comment on not only the economy in general, but also their industry, their areas of concentration, obstacles, attitudes towards government and currently pending legislation. Through our partnership with the Business Council of New York State, this study has been made possible and the information has been made available to business leaders for the 10th consecutive year. We hope you will find the data an important asset as you plan and forecast the future. The Siena College Research Institute would like to thank the CEO's who continually participate year after year, with very strong and at times very emotional opinions about their business and their industry. You are why, for the last ten years, this study, and our data collection that has been measured over time, has been possible. We are pleased to be able to provide this important data about Upstate New York CEO's to the Business Council as they work to advance the interests of New York’s business community. I look forward to sharing the results of this, our tenth annual Upstate New York Business Leaders Study. Sincerely,
Donald P. Levy, Director Siena College Research Institute
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SIENA COLLEGE RESEARCH INSTITUTE
The genesis of the survey can be traced to early 2007 when one of Carr Marketing Communications' clients presented us with a unique challenge. At the time, First Niagara Bank was beginning to expand beyond its Western New York roots and was looking for the right mechanism to build a greater market presence not only in Buffalo, but also in the Rochester, Syracuse and Albany metro areas. As an answer, we proposed creating an annual survey of Upstate New York private business leaders and solicit their opinions on present and future economic conditions and their own company fortunes for the coming year. These business leaders would be chief executive officers (CEO's) and chief financial officers (CFO's) of private businesses with between $5 million and $200 million in sales in each Upstate New York metro area. Companies represented would be in the service, manufacturing, engineering and construction, retail, wholesale and distribution, financial and food and beverage industries. The survey would ask not only for their forecasts for the coming year for their own business as well as the state’s economy, but also their expectations for revenues, profits, workforce hiring and fixed asset acquisitions, such as property and equipment. What made this survey unique was the fact these CEO's are rarely randomly surveyed because they don't have the time or incentive, because of daily business demands, to answer such surveys. In many respects they represented an untapped, silent audience but one extremely critical to the economic success and prosperity of New York State. To gain access to this audience and to solicit their opinions, our firm enlisted the expertise and professionalism of the Siena College Research Institute and especially its director, Dr. Donald Levy, to serve as partners in this important endeavor. Under First Niagara’s initial sponsorship, the survey grew each year to become a tradition for more private business leaders to provide valuable information about their economic outlook and company prospects and for the media to report it. Survey results were unfailingly on target in providing a realistic picture of what was happening now and what could be expected in the coming year – a true bellwether. Subsequently, media recognition and attention increased each year at the rate of almost 15 percent.
History of the Survey Bob Carr, Carr Marketing Communications Inc.
It is truly remarkable to see the annual Upstate New York Business Leaders Survey celebrate 10 years strong!
Now after 10 years, the Upstate New York Business Leaders Survey stands alone – based on the characteristics of its respondents, data collection methods, and reporting composition and analysis – as the most comprehensive and leading study in the Empire State of the opinions of private business leaders. And it all began with a creative answer to a question about increasing market presence.
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New York Upstate Business Leaders Timeline Throughout the years, our regional partners the Buffalo Niagara Partnership, the Rochester Business Journal, the Center for Economic Growth, the Capital Region, Rensselaer and Saratoga Chambers of Commerce and the Albany Business Review have hosted events where hundreds of business leaders and panelists have gathered to discuss the outlook for businesses in New York State. They analyzed expected revenue, profits and hiring for the next year, the effects of regulatory issues, and the issues of the time including Affordable Care Act, minimum wage and paid family leave.
2007 • Study was developed in response to First Niagara Bank wanting an Economic Study to associate/represent with their brand. Study began – One year before the crash, CEO’s predicted the 2008 financial market’s downward spiral. • Workers Compensation Reform and Corporate Tax Reform • The housing crisis worsened. Financial institutions that invested heavily in subprime mortgages were left with worthless assets as foreclosures increased.
2008 • The U.S. economy was in full recession. The crisis affected credit markets nationwide. • Barack Obama becomes President
2009 • The American Recovery and Reinvestment Act helped to avoid a second Great Depression
2010
2011
• Tax rate on cigarettes was raised
• Present Governor Andrew Cuomo takes office
• Federal Trade Commission (FTC) takes action against LifeLock
• The study expanded to include New England
• Study expands to survey PA business leaders
• Governor Eliot Spitzer (2007-2008)
• Small Business Jobs Act becomes law
Governor David Paterson (2008-2011) • Fair Pay Act passed (implemented in 2016)
No one person can predict the future. There are too many variables, influenced by too many factors. Individual projections amount to little more than educated opinion. However, when leading Upstate New York CEO’s graciously share their insight, and when that combined information is processed and quantified, the results are simply staggering. The Siena College Research Institute’s annual Upstate New York Business Leader Survey is a shining tribute to community collaboration. For 10 years, top executives throughout the region have supported this endeavor, and for 10 years, the findings have been invaluable. This study takes a remarkably accurate temperature of the Upstate New York economy, and when the right people have access to the right information, every person in the state benefits. The business world can be solitary and inherently competitive, but the interests of the region are advanced by the work we do together. Siena College is proud to be a leader in this mission. We’re grateful for the relationships we’ve made and the partnerships around us. Most of all, we’re humbled by all of the good to come out of this survey, and we’re optimistic for its continued success.
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SIENA COLLEGE RESEARCH INSTITUTE
Sincerely yours,
Br. F. Edward Coughlin, O.F.M., Ph.D
Siena College President
The study has been covered widely by media partners in the upstate markets including the Buffalo News, Buffalo Business First, the Rochester Business Journal, the Central New York Business Journal, the Albany Business Review and the Times Union. Over the last 10 years the study has reflected worldwide, national and regional economic and historical events including the economic downturn of 2008 and the election of two governors and two presidents.
2012 • Barack Obama elected for his second term • Hurricane Sandy hits the eastern US seaboard, affecting New York State
2013
2014
• Federal government shuts down
2015
• Gramercy Communications and Ostroff Associates partner as sponsors of the Business Leaders Survey
• Business Council partners with SCRI as a sponsor
2016 • Business Council partners for a second year and helps celebrate the 10th year of the survey • 12-Week Paid Family Leave passed (implement in 2018)
• The first significant lift of confidence since 2007 • Brownfield Cleanup Program provides tax credits for companies moving to sites with hazardous waste and cleaning it up
• Affordable Care Act upheld Supreme Court 5-4
SIENA COLLEGE RESEARCH INSTITUTE (SCRI) NEW YORK STATE FEDERAL
Timeline created by Rebekah Alexis, Graphic Designer, BCNYS WWW.SIENA.EDU/SCRI
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BUFFALO, NEW YORK
BUSINESS LEADERS PARTICIPATE IN A panel discussion at the Buffalo Niagara Partnership; 2017 CEO's Speak: Inside Buffalo Niagara's Economic Outlook.
Optimistic business leaders describe an economy in which they see improved conditions and expect better days ahead. In 2008, 14% of Buffalo CEO's were Optimistic. Today, 34% fall into this group. Business leaders in the middle group are "Treading Water." They tend to feel as though the economy is stable, but do not anticipate improving conditions. Today, 48% of Buffalo CEO's are “Treading Water." This is an increase from the 2008 number of 27%.
Moderator: Dottie Cohen-Gallagher. Ken Pokalsky, VP of Government Affairs, The Business Council. Buford Sears, President, WNY Market, KeyBank. Art Wingerter, President, Univera Healthcare.
Business leaders in the Pessimistic group feel as though conditions have worsened recently and expect further decline. Following the Recession of 2008, Buffalo CEO's that were Pessimistic increased to 59%. Today, only 19% of Buffalo CEO's are Pessimistic.
OPTIMISTIC BUSINESS LEADERS "TREADING WATER" BUSINESS LEADERS PESSIMISTIC BUSINESS LEADERS
BUSINESS LEADERS INDEX
120
116.0
82.5 106.3
100
80.6
89.3
78.6
87.8
80
96.6
110.3 106.9
86.3
103.5
60 46.5
40
37.2
BUFFALO AREA CEO'S SCORED above 100 - more optimism than pessimism - for the second time in three years and perhaps more importantly, recorded their highest score ever for confidence in the future. With an increasing percentage of Buffalo CEO’s optimistic about the future and growing numbers expecting rising revenues and profits, as well as projecting offering more jobs, Buffalo is poised to experience a strong year ahead.
FUTURE
27.8
20
OVERALL CURRENT
0
8
2007
2008
2009
SIENA COLLEGE RESEARCH INSTITUTE
2010
2011
2012
2013 2014
2015
2016
BUFFALO = EXCELLENT OR GOOD
"THROUGH OUR WORK, THE BUFFALO NIAGARA Partnership understands both the concerns and hopes of Western New York business leaders, but the annual Upstate New York Business Leader Survey provides us with a critical deep-dive beyond our home region. The information mined by the Siena College Research Institute helps us better understand how the opinions and sentiments of Buffalo Niagara CEO’s overlap or diverge from their peers throughout Upstate."
76%
AIRLINE SERVICE
-Dottie Gallagher-Cohen, President & CEO of the Buffalo Niagara Partnership
56%
"THE TRUE VALUE OF THE SIENA COLLEGE RESEARCH Institute’s annual Upstate New York Business Leader Survey is because so many local business leaders participate. Whether it is identifying a new challenge or a corresponding opportunity, the results of the survey provide real insight to anyone doing business in Upstate New York."
52%
PLACE CONSUMERS WANT TO LIVE
SUITABLE WORKFORCE
-Buford Sears, Buffalo Region Market President, Key Bank
2017 EXPECTATIONS REVENUE
FIXED ASSET INVESTMENT
PROFIT
16%
20% 3%
4% 4%
5%
43%
34%
38%
33%
DECREASE STAY DECREASE GROW GROW SUBSTANTIALLY MODERATELY ABOUT THE SAME MODERATELY SUBSTANTIALLY
WORKFORCE EXPECTATIONS 66%
50%
48%
40
42%
%
30%
50%
0%
40%
17%
20% 10%
54%
33%
12% 10%
17%
36% NO
12% DON'T KNOW
71% OF BUFFALO CEO'S BELIEVE the medical industry will have a positive impact, with 48% believing it will have the greatest positive impact.
70% 60%
52% YES
10%
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
WORKFORCE EXPECTATIONS FELL IN 2008 AS THE number of CEO’s expecting to decrease their workforce hit an all time high of 17%, and those who expected to increase their workforce hit an all time low of 17%. Buffalo CEO’s saw their best outlook for hiring in 2015, when 41% anticipated increases while only 5% expected decreases. REMAIN DECREASE INCREASE ABOUT THE SAME YOUR WORKFORCE YOUR WORKFORCE WWW.SIENA.EDU/SCRI
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ROCHESTER, NEW YORK
EXPERTS SHARE THEIR INSIGHTS AND forecasts on the local and regional economy at the RBJ Power Breakfast Series: Economic Outlook.
Optimistic business leaders describe an economy in which they see improved conditions and expect better days ahead. In 2008, 17% of Rochester CEO's were Optimistic. Today, 22% fall into this group. Business leaders in the middle group are "Treading Water." They tend to feel as though the economy is stable but do not anticipate improving conditions. Today, 50% of Rochester CEO's are "Treading Water." This is an increase from the 2008 number of 26%. Business leaders in the Pessimistic group feel as though conditions have worsened recently and expect further decline. Following the Recession of 2008, Rochester CEO's that were Pessimistic increased to 57%. Today, only 28% of Rochester CEO's are Pessimistic.
OPTIMISTIC BUSINESS LEADERS "TREADING WATER" BUSINESS LEADERS PESSIMISTIC BUSINESS LEADERS
Moderator: Paul Ericson. Heather Briccetti, Dr. Kent Gardner, Dr. Anne Kress, Ebony Miller, Pres. Wesley, Dr. Don Levy.
ROCHESTER BUSINESS LEADERS INDEX
120 100
117.3
94.2
113.3
89.4
109.2
84.6
114.6
76.7
80
109.1
76.3
103.7
76.0
60 51.1
40
41.2 31.4
20
TWICE DURING THE LAST TEN years, in 2010 and in 2014, Rochester CEO’s recorded the highest overall confidence across Upstate. Today Rochester’s score has dipped below 100 despite having an active economic ecosystem. Still, a growing percentage of Rochester CEO’s say they are located in the right place and 2/3rds expect their business to be right here ten years from today. More so than last year, they anticipate increasing revenues and profits and nearly 4 of 10 are looking to hire.
FUTURE OVERALL
0
10
2007
2008
2009
SIENA COLLEGE RESEARCH INSTITUTE
2010
2011
2012
2013 2014
2015
2016
CURRENT
ROCHESTER = EXCELLENT OR GOOD
"PERHAPS MORE THAN THE OTHER THREE REGIONS, Rochester is re-inventing itself. Based on the vitality of its business leaders, we look forward to measuring its progress in the years ahead.” - Don Levy, SCRI’s Director
42% TRANSPORTATION INFRASTRUCTURE
"THE SIENA COLLEGE RESEARCH INSTITUTE'S ANNUAL Upstate New York Business Leader Survey has provided much-needed context and background for discussions about regional economic development in our community. It has also offered information to our college, giving us insight into the thoughts of business leaders as we look to develop or expand workforce programs."
49%
44%
PLACE CONSUMERS WANT TO LIVE
Dr. Anne Kress, President, Monroe Community College
CONSUMER CONFIDENCE
2017 EXPECTATIONS REVENUE
FIXED ASSET INVESTMENT
PROFIT
14%
23%
32%
6%
6% 3%
0%
41 %
35% 39% STAY DECREASE DECREASE GROW GROW SUBSTANTIALLY MODERATELY ABOUT THE SAME MODERATELY SUBSTANTIALLY
48% YES
42 % NO
9% DON'T KNOW
WORKFORCE EXPECTATIONS 70
%
60%
60%
50% 40%
70%
59%
53%
39%
30
%
37% 22%
19%
20
%
18%
10% 2%
0%
11%
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
8%
61% OF ROCHESTER CEO'S BELIEVE the medical industry will have a positive impact, with 31% believing the medical industry will have the greatest positive impact.
AS WE SAW IN THE OTHER REGIONS IN 2008, ROCHESTER CEO’s had an all time high of 22% in workforce reduction expectations, and a low of 18% for increases. However, the Rochester area anticipated a rebound more quickly than the other regions. In 2010, expected decreases fell to just 7%, and hiring expectations jumped to 27%. REMAIN ABOUT THE SAME
INCREASE YOUR WORKFORCE
DECREASE YOUR WORKFORCE
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SYRACUSE, NEW YORK
BUSINESS LEADERS GATHER FOR THE yearly Economic Forecast Breakfast, sponsored by CenterState CEO in Syracuse.
Optimistic business leaders describe an economy in which they see improved conditions and expect better days ahead. In 2008, 11% of Syracuse CEO's were Optimistic. Today, 32% fall into this group. Business leaders in the middle group are "Treading Water." They tend to feel as though the economy is stable but do not anticipate improving conditions. Today, 54% of Syracuse CEO's are "Treading Water." This is an increase from the 2007 number of 34%. Business leaders in the Pessimistic group feel as though conditions have worsened recently and expect further decline. Following the Recession of 2008, Syracuse CEO's that were Pessimistic increased to 55%. Today, only 14% of Syracuse CEO's are Pessimistic.
OPTIMISTIC BUSINESS LEADERS "TREADING WATER" BUSINESS LEADERS PESSIMISTIC BUSINESS LEADERS
SYRACUSE BUSINESS LEADERS INDEX
120
115.3
100
101.4 117.1 106.2
80
101.0
102.6
95.9
55.6
60
87.5
109.9
54.6 53.7
44.3
40
41.5
DESPITE CURRENT CONFIDENCE among Syracuse CEO’s being well below the breakeven point of 100, collectively these businesses expect conditions to significantly improve in the future. Over half expect revenues to rise this year and nearly as many see those revenues turning into profits. CEO’s expect higher education, technology and medical to drive the area into a more successful future.
FUTURE
38.7
OVERALL
20
CURRENT 0
12
2007
2008
2009
SIENA COLLEGE RESEARCH INSTITUTE
2010
2011
2012
2013 2014
2015
2016
"EACH YEAR, WE LOOK FORWARD TO THE SIENA COLLEGE Research Institute’s Upstate New York Business Leader Survey. This study is a must-read for gauging the current business sentiment of top executives across Upstate. We are pleased to have partnered with Siena to provide our readers with this valuable insight into CEOs’ buying plans and views about the Upstate business climate."
SYRACUSE = EXCELLENT OR GOOD
-Adam Rombel, Editor-in-Chief, The Central New York Business Journal
INFRASTRUCTURE
37%
TRANSPORTATION
"THE STRATEGIC INSIGHT GAINED FROM THE SIENA COLLEGE Research Institute’s Upstate New York Business Leader Survey supports the work we do on behalf of members and the Central New York community. Through this study we gain a better understanding of the business climate and perspectives of top executives from across Upstate New York."
45%
39%
PLACE CONSUMERS WANT TO LIVE
SUITABLE WORKFORCE
Rob Simpson, President at CenterState CEO
2017 EXPECTATIONS REVENUE
FIXED ASSET INVESTMENT
PROFIT
11%
21%
0%
0% 1%
38% 1%
46%
42%
40%
STAY DECREASE DECREASE GROW GROW SUBSTANTIALLY MODERATELY ABOUT THE SAME MODERATELY SUBSTANTIALLY
63% 67%
60%
72%
60% 50% 40%
28%
31%
33%
5%
6%
30% 20%
22%
10%
11%
0%
40 % NO
14 % DON'T KNOW
WORKFORCE EXPECTATIONS
80% 70%
46 % YES
10%
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
56% OF SYRACUSE CEO'S BELIEVE education will have a positive impact, with 25% believing the education industry will have the greatest positive impact. SYRACUSE CEO'S HAVE PREDICTED MORE STABILITY in workforce decreases than the other regions. From 2007 to 2013, workforce decrease expectation ranged from 10-15%. In 2008, they did anticipate a drop in hiring (19%), but quickly rebounded the next year to 28%. REMAIN ABOUT THE SAME
INCREASE YOUR WORKFORCE
DECREASE YOUR WORKFORCE
WWW.SIENA.EDU/SCRI
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ALBANY, NEW YORK
PANELISTS DISCUSS THE VIEWS of CEO's, their confidence levels, their worries and their plans for the new year at the Albany Business Review Economic Forecast Breakfast: Siena College Poll.
Optimistic business leaders describe an economy in which they see improved conditions and expect better days ahead. In 2008, 14% of Capital Region CEO's were Optimistic. Today, 38% fall into this group. Business leaders in the middle group are "Treading Water." They tend to feel as though the economy is stable but do not anticipate improving conditions. Today, 46% of Capital Region CEO's are "Treading Water." This is an increase from the 2007 number of 26%. Business leaders in the Pessimistic group feel as though conditions have worsened recently and expect further decline. Following the Recession of 2008, Capital Region CEO's that were Pessimistic increased to 60%. Today, only 16% of Capital Region CEO's are Pessimistic.
OPTIMISTIC BUSINESS LEADERS "TREADING WATER" BUSINESS LEADERS PESSIMISTIC BUSINESS LEADERS
Moderator: Mike Demasi, Senior Reporter. Dr. Don Levy, SCRI. Heather Briccetti, President & CEO, BCNYS. Tom Amell, President & CEO, Pioneer Bank. George Vorsheim Jr, Dir of Comm, Environment One Corp.
CAPITAL REGION BUSINESS LEADERS INDEX
140
121.1
120 100 80
112.5 103.9
87.2
114.0
105.3
81.7
110.4
102.8
76.3
106.7
100.3
60 45.4
40 20
BUOYED BY BOTH A DIVERSIFIED economy and a sense among CEO’s that the technology sector will generate local economic growth, the Capital Region CEO’s have scored at or near the highest of the four regions each of the ten years. Today, the Capital Region has the highest overall, current and future confidence of the four regions. Forty-two percent of Capital Region CEO’s say that if they had it to do all over again, they would locate their business in New York.
38.0
FUTURE
30.6
OVERALL CURRENT
0
14
2007
2008
2009
SIENA COLLEGE RESEARCH INSTITUTE
2010
2011
2012
2013 2014
2015
2016
CAPITAL REGION = EXCELLENT OR GOOD
"THE SIENA COLLEGE RESEARCH INSTITUTE'S UPSTATE NEW York Business Leader Survey results have proven to be a valuable tool in helping to set realistic and achievable projections as we plan for Pioneer’s growth. It is important for us to understand how Upstate CEO’s are thinking in terms of capital expenditures, employment and top line revenue growth, in order for us to determine our expected growth."
50% CONSUMER CONFIDENCE
- Tom Amell, President and CEO, Pioneer Bank "FOR AN ECONOMIC DEVELOPMENT ORGANIZATION like the Center for Economic Growth, it is crucial for us to know how business leaders in the Capital Region and beyond feel about our economy. We’ve been a long-time supporter of the Upstate New York Business Leaders Survey because it helps us head off emerging problems and allows us to identify the economic strengths that can support CEG’s business attraction and retention efforts."
64%
52%
PLACE CONSUMERS WANT TO LIVE
SUITABLE WORKFORCE
- Andrew S. Kennedy, CEG President and CEO
2017 EXPECTATIONS REVENUE 13%
17 % 1%
1% 1%
27 %
FIXED ASSET INVESTMENT
PROFIT
1%
58%
53% 27 %
STAY DECREASE DECREASE GROW GROW SUBSTANTIALLY MODERATELY ABOUT THE SAME MODERATELY SUBSTANTIALLY
54% YES
32% NO
15 % DON'T KNOW
WORKFORCE EXPECTATIONS 70
80% OF CAPITAL REGION CEO'S BELIEVE technology will have a positive impact, with 53% believing the technology industry will have the greatest positive impact.
%
60%
61%
50%
54%
40% 30
50%
55%
42% 30%
34%
%
23%
20% 22%
10 % 5%
0%
15%
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
6%
IN 2008, WORKFORCE EXPECTATIONS TOOK A HIT AS THE number of CEO's expecting to decrease their workforce hit an all time high of 22%, and those who expected to increase their workforce hit an all time low of 23%. In 2015, these numbers finally rebounded with 39% of CEO's anticipating increases in their workforce, and only 5% looking at decreases. REMAIN ABOUT THE SAME
INCREASE YOUR WORKFORCE
DECREASE YOUR WORKFORCE
WWW.SIENA.EDU/SCRI
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Looking Forward, Looking Back: Upstate New York Business Leaders Survey IN 2016, 39% OF CEO'S said “if they had to do it all over again” they would still locate their business in New York State. This was a ten point increase over the previous three years this question was asked.
OVERALL
100 80
113.9
79.6
103.1
110.4
112.7
77.7
98.4
106.9
103.8
76.3
93.8
94.8
60 46.9
CURRENT
STATEWIDE INDEX
FUTURE
120
40
39.0 31.1
20 0
2007
2008
2009
2010
2011
2012
2013
2014
2015 2016
HOW IS THE INDEX COMPILED?
THE BUSINESS LEADERS INDEX IS COMPRISED OF FOUR QUESTIONS. Two questions are asked about statewide economics and two questions are industry specific. We then ask the business leaders to look at current and future expectations and indicate if they think things are getting better, staying the same or getting worse. The four questions are scored to create an index.
16
SIENA COLLEGE RESEARCH INSTITUTE
omnibus questions OVERALL
IN GENERAL DO YOU think relations between minorities and White Americans is or is not an economic development issue in Upstate New York?
ALBANY BUFFALO ROCHESTER
YES LESS AS MUCH
WOULD YOU SAY THAT MINORITIES have more opportunity than White Americans to be successful in industries like yours here in Upstate New York, as much opportunity as White Americans, or less opportunity to be successful?
NO
MORE
MINORITIES IN THE WORKFORCE 2016
SYRACUSE
WOMEN IN THE WORKFORCE 2014 38 % 75%
The old days are over, women have as much opportunity today as men do…
61% 23%
Things have changed but in so many circumstances it remains a man’s world….
HOW BIG A PROBLEM IS...?
EQUAL PAY
GLASS CEILING
SEXUAL HARRASSMENT
BALANCING WORK/FAMILY
AGE DISCRIMINATION
RESPECTED EQUALLY WITH MEN
MEN
24%
28%
29%
68%
21%
30%
WOMEN
56%
52%
45%
75%
50%
57% WWW.SIENA.EDU/SCRI
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WORKFORCE ASSESSMENT 2015/2016
How significant an obstacle is Lack of Skilled Workers as you consider growing your business at your current location(s) in New York?
60%
NOT VERY/ NOT AT ALL
36%
VERY/ SOMEWHAT
HOW PREPARED ARE NEW HIRES FOR EACH OF THESE AREAS?
AFFORDABLE CARE ACT (ACA) 2011-2016
From 2011 through 2014, at least 67% of CEO's were in favor of repealing the Affordable Care Act.
From 2013 through 2015, at least 69% of CEO's expected the Affordable Care Act to have a In response to the ACA, approximately 20% negative impact on their business. of CEO's reduced employee hours, 25% hired more part-time employees, and by 2015, 40% decreased benefits to cut costs.
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SIENA COLLEGE RESEARCH INSTITUTE
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We congratulate thethe Siena College We congratulate our ourfriends friendsatat Siena College Research Institute Institute on on the the successful successful and andencouraging encouraging launch of of the the 10th 10th Annual launch Annual Upstate Upstate New New York YorkBusiness Business Leaders Study. At Leader Survey. At Siena, Siena, the thefuture futureis isbright. bright.
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