Monday 28 May 2018

Majority of directors approve performance of the Government

Maura Quinn, CEO of the Institute of Directors
Maura Quinn, CEO of the Institute of Directors
Ellie Donnelly

Ellie Donnelly

The majority of directors in Ireland approve the performance of the current Government, according to the latest quarterly survey from Institute of Directors in Ireland (IoD).

Overall, 70pc of the IoD members, that include chief executives, senior executives, non-executive directors and chairpersons, said that they consider the performance of the current Government to be "good to excellent" with the remaining 30pc ranking the Government performance as "fair to poor."

However, not as many directors are supportive of the Confidence and Supply agreement, with a marginal majority (56pc) of directors are in favour of extending the agreement from three to five years.

"While directors are broadly supportive of the Government’s performance to date, it should be noted that only a marginal majority favour an extension of the Confidence and Supply Agreement," Maura Quinn, chief executive of the IoD, said.

"Clearly there is work to be done to improve optimism and extend the positive rating by business into a buy-in for long-term support of the Government."

Meanwhile just over one in two business leaders said that they are optimist now about the Irish economy compared to the end of 2017, with 38pc reporting no change in levels of optimism.

On the matter of Brexit, opinion is divided among Ireland’s business leaders as to the country’s ability to compete for business on an international scale post-Brexit with 40pc of the view that Ireland is well equipped to compete, yet 36pc disagree.

Concerns over housing and availability of talent were cited as the main potential roadblocks to competing internationally post-Brexit. While one in three respondents also raised concerns about potential border controls/delays.

"Directors have a positive attitude to performance in the months ahead, however; concerns about Ireland’s ability to compete for business post-Brexit, particularly regarding housing supply and talent, present a challenge," Ms Quinn.

Overall, 84pc of the business leaders surveyed said that they closed their business for at least one day during Storm Emma.

Meanwhile, just over a quarter of those surveyed said that labour sourcing and retention is the single biggest risk facing their organisation, even so, just under half of the companies increased employee numbers in the first three months of 2018.

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