The level of optimism of Czech CFOs has slightly decreased after peaking last year. According to CFOs’ predictions, GDP will grow by 2.3% on average (0.2 percentage point less than in 2018). The overwhelming majority (98%) believes that employee costs will grow again this year. The majority (73%) of CFOs in the Czech Republic admit that their team has been prepared for the implementation of artificial intelligence only partially or not at all. This is the outcome of the 10th annual Deloitte CFO Survey 2019.
The Czech corporate sector is most at risk of a possible debt crisis. Czech firms’ debt could significantly rise if EU subsidies or investments are reduced. However, Czech firms are not one of the sixteen risky areas that could become the epicentre of the next debt crisis in Europe. These are the conclusions of Deloitte’s “When is the next crisis coming?” analysis assessing the risk of European households, governments and firms running up debt and countries incurring foreign debt.
One of the major topics for Czech businesses in terms of human capital relates to employee experience with a focus on human approach and meaningfulness of work (86%). Nevertheless, only 36% of respondents believe that their business is prepared for that. These are the results of Deloitte 2019 Global Human Capital Trends study. Ten thousand respondents from 119 countries including the Czech Republic took part.
The European football market has exceeded €25bn in revenue for the first time, according to the 27th Annual Review of Football Finance from the Sports Business Group at Deloitte. The 4% increase from 2015/16 was predominantly driven by the ‘big five’ European leagues, which saw combined revenues grow by €1.3bn (9%) to €14.7bn in 2016/17. Growth was not restricted to those biggest leagues, however, with non-big five leagues also seeing revenue increases, but at an inferior rate to that seen in England, France, Germany, Italy and Spain.
Contact details, CVS, photographs and videos from corporate events only constitute a fragment of the data handled by HR specialists on a daily basis. HR departments process a large volume of personal data concerning both existing and previous employees as well as job applicants. However, the new General Data Protection Regulation (GDPR) requires setting new rules and verifying whether consents to personal data processing comply with the GDPR. If not, penalties may apply.
The winner of the ninth annual Act of the Year survey is the initiative for more prudent regulation of business, i.e. the ruling of the Constitutional court on electronic sales records (“EET”). The expert public’s votes ranked the Payment System Act implementing PSD2 second and the amendment to the Construction Act third. In this survey organised by Deloitte Legal, hundreds of entrepreneurs chose from five nominated legislative acts having a positive impact on business.
CFOs in the Czech Republic remain optimistic this year. They are supported by the continuously strong Czech economy, forecasting average GDP growth of 2.5%. However, they are concerned about the situation on the labour market, with 95% of CFOs citing growing workforce costs as a risk factor. In addition, more than half of CFOs (51%) are worried about the personal data protection regulation (GDPR). These are the conclusions of the CFO Survey conducted by Deloitte.
Czech banks are at the forefront of digital banking maturity in the EMEA region (Europe, Middle East and Africa). As a whole, they rank immediately behind the five digital champions and lead a group that is referred to as smart followers, where they are followed by Norwegian, South African, Finnish and French banks. These are the results of Deloitte’s latest Digital Banking Maturity EMEA 2018 survey. According to the survey, the most advanced digital banking market is currently Russia.
Czech firms find employee well-being to be of the greatest importance (92%). Nevertheless, only 57% of respondents believe that their firm is ready for it. These are the conclusions of Deloitte’s latest Global Human Capital Trends report. The survey included over 11,000 respondents across 124 countries worldwide, including the Czech Republic.
While almost half (47%) of students and graduates in Central Europe aspire to become experts in their respective fields in the future, Czechs want to be managers (44%). 38% of Czech students and graduates want to become experts in their respective fields and the others would like to develop in a more horizontal fashion, gaining diverse experience. 75% of Czechs and 77% of Central Europeans would be willing to move abroad for work.
A hackathon for talented programmers, a debate about the future with 8-year-olds and participation of promising students from the region – these are just some of Deloitte’s activities as part of the global Singularity University (SU) summit. The event will take place on 5 and 6 March 2018 and will be hosted in Prague for the first time. Since 2013, Deloitte has been a global platinum partner of Singularity University.
The vote for the Act of the Year has started. For the ninth consecutive year, entrepreneurs will decide about the best legal regulation with a positive impact on business. In addition to voting on the best act, this year’s edition of the project will open up a discussion among leading authorities about the development of the Czech legislation governing the business environment. The project is organised by Deloitte, a professional services firm, and its legal office, Ambruz & Dark Deloitte Legal. This year’s edition will be taking place under the auspices of the Czech Chamber of Commerce and the Czech Bar Association.