Daily Times

About half of chief executives around the world do not expect business to return to normal until “some time” in 2022, according to a study by accounting firm KPMG.

This compares with 31 percent of chief executives who expect that businesses will return to normal later this year, KPMG said in its 2021 CEO Outlook Pulse report.

The survey was conducted in February and March this year and asked 500 global chief executives about their response to the pandemic and their outlook over a three-year period. Fifty-five percent of respondents said they are concerned about employees’ access to a Covid-19 vaccine, which is influencing their outlook as to when employees will return to the workplace, while 90 per cent are considering asking staff to report for duty after they are vaccinated, the survey said. However, 34 percent are worried about misinformation on the safety of Covid-19 vaccines and the potential this may have on employees choosing not to be vaccinated.

“Before any major decisions are made, chief executives want to be confident that their workforce is protected against this virus,” said Bill Thomas, global chairman and chief executive of KPMG. “The Covid-19 vaccine rollout is providing leaders with a dose of optimism as they prepare for a new reality.”

Thomas said chief executives are planning for scenarios in certain key markets that may experience vaccine shortages that could affect their operations, supply chains and people, leading to an uneven economic recovery.

A number of countries around the world have stepped up vaccination campaigns to reduce coronavirus infections. As of Saturday, more than 869 million doses had been administered across 155 countries, according to data collected by Bloomberg.

The survey also found that only 30 percent of global executives are considering a hybrid working model for their staff, in which they would work remotely for two to three days a week. As a result, only 21 percent of businesses are looking to hire talent that predominantly works remotely – a significant shift from last year, when 73 percent of companies hired talent to work from home.