US corporate world optimistic about growth prospects in 2010

WASHINGTON: Better times are ahead for the corporate world in the United States, with a vast majority of companies expecting revenue growth and higher sales in the year 2010, a survey says.

According to the global consulting firm, Watson Wyatt, 83 per cent of companies project revenue growth in 2010 and more than half expect higher sales goals and quotas for the next year.

With the economy showing signs of recovery the number of sales force layoffs has declined sharply.

"Only 12 per cent anticipate decreasing their sales staffing levels in the coming fiscal year (compared with 53 per cent in February), and 16 per cent actually anticipate increasing their sales force head count," the report said.

The survey was conducted in August 2009 and includes responses from sales executives at 129 large companies.

"Optimistic forecasts are good news for sales forces, which can look forward to fewer layoffs and potentially higher compensation," Watson Wyatt global director of sales effectiveness and compensation John Bremen said.

The report further highlighted that even in the current economy, the large majority of companies (86 per cent) are able to identify their top performers, and 79 per cent report that the top earners mirror the top performers, indicating a strong pay-for-performance orientation.