Many business executives view Republican Mitt Romney as the candidate whose policies would set the stage for better economic growth, according to a survey of 501 businesspeople, but their ideas for boosting jobs growth included those put forth by both Democrats and Republicans.
Some 54 percent of respondents—a group that includes CEOs, presidents, and managing directors—said that Romney's election would be better for the growth and success of their business, while just 20 percent said the same of President Obama, according to the results of the survey conducted by job-placement firm Adecco. Thirteen percent said neither candidate was good for growth. In a separate question, 62 percent of executives said Obama was not doing all he could to help businesses grow.
Providing incentives for business hiring was cited most often as a policy a new president should implement to create jobs, followed closely by investing in infrastructure projects and reforming bureaucratic processes for businesses. Both Obama and Romney have proposed a tax incentive for businesses that hire the long-term unemployed. Obama has also repeatedly touted the importance of infrastructure investment in speeches and statements, while Romney has put an emphasis on streamlining regulations.
But the election and the uncertainty surrounding it hasn't affected investing for most: 62 percent of executives surveyed said they were investing just the same, while 35 percent said they were holding back to see who wins.
Health care costs were the most frequently cited business challenge, followed by salaries and compensation. Nearly half of respondents, 45 percent, said hiring was not affected by the passage of the Affordable Care Act, Obama’s landmark health care law. Some 35 percent said it had affected hiring.
Almost half of the executives, 47 percent, expect profits to rise in the next year, with 18 percent predicting a decline.
The telephone survey was conducted between Oct. 2 and Oct. 8 and has a margin of error of plus or minus 4.37 percentage points.