The surveys are based on responses from 675 professionals and were compiled this week. Significant findings among the ranks of Sales Managers include:
- 65% or nearly two-thirds of Sales Managers report sales are down in the first two months of the year. Almost one-fifth (19.1%) of Sales Managers reported their sales down between 10% and 20%, and one-third (33.3%) reported sales were down 20% or more.
- The recession has created a dramatically increased focus on price with most buyers trying to extract every possible price concession; 48% of Sales Managers report that what they need most at this time is training to keep salespeople focused on value, not price.
- The recession has also made Sales Managers more pessimistic about the possibility of obtaining new customers in the present economic climate. The largest segment (42%) said they will focus most efforts to shore up revenues by trying to sell more to existing customers.
A second survey of Financial Executives indicates strong dissatisfaction with the cooperation they are getting from other departments within their own companies to identify and implement cost-saving measures. Many are also feeling a cash squeeze because their customers appear to be in trouble and have slowed down payments as a protective measure.
According to recent surveys among CFOs, Controllers and Credit and Collection Managers:
- More than half (57%) of top Finance Execs believe their companies still have a way to go before all employees become responsible spenders and treat the company’s money as their own.
- 48.4% felt what their companies needed most, apart from more responsible spending habits internally, was guidelines for what to do when good customers have problems.
- Next on the list of needed tools to combat cash flow problems (37%) was a list of effective comebacks for debtors’ excuses.
Office Managers and Administrative Professionals, who are most often at the hub of company spending, report seeing significant belt-tightening around them.
In a separate survey:
- More than half (53.1%) said they had seen layoffs in their organizations.
- Almost 95% said the downturn had affected or will soon affect their organizations.
- An overwhelming majority (81%) said they felt pressure to save money an all purchases, no matter how small.
- Solid majorities (between 53% and 69%) saw budgets tightened for such things as travel, continuing education, and meetings and events).
Perhaps more significantly, a solid majority (58%) of administrative professionals said they had seen more job-related stress among the remaining employees that was affecting personal and company performance.
