America This Week Wave 151

The latest trends in culture and society from The Harris Poll 

It’s Davos week, and instead of frozen feet, we at Harris have compiled essential #wef23 reading topics to prime you for the year ahead. So we encourage you to curl up with a coffee and hit these PDFs. Together, they weave a theme of businesses needing to navigate the near-term downturn while preparing for accelerated disruption. In each, there’s a worry about companies needing to keep up with society’s change.

• World Economic Forum Global Risks Report 2023 warns that the familiar risks of the past three years are diverting attention and resources away from new ones like unsustainable debt levels, digital/generative AI disruption, and a new era of low growth, global investment, and de-globalization. In addition, the decline in human progress, namely people’s health and personal security, are among the most significant risks in the coming years. 
• Edelman Trust Barometer 2023: Another bellwether in its twenty-third year argues that our political polarization has made business more trusted than ever and more essential to solving social problems worldwide. Key stat: (68%) believe that brands celebrating what brings us together and emphasizing our common interest would strengthen the social fabric. 
• PwC’s 26th Annual Global CEO Study: Our clients at PwC share that (40%) of global CEOs think their organization will no longer be economically viable in ten years.
• C-Suite Outlook ’23: The Conference Board’s annual survey of over 1,000 CEOs finds that most expect a recession, albeit short.
• Harvard CAPS/Harris Poll: Hear our Harris Chairman and Stagwell CEO Mark Penn cover January’s national mood of American Voters this Friday morning at 9:00a ET. Register here. 

Lastly, check out the latest America This Week monthly summary slide deck and tabs for more insights into inflation and shifting consumerism. Download the new December report here. 

What Recession? Two-Thirds Plan to Spend the Same or More in 2023: DailyPay-Dollar Tree-Harris Poll

Despite the continued concern over inflation (88%, +4%-pts this week) and potential inflation (82%, +1%-pt),  most Americans don’t plan to kill their 2023 spending, according to our latest survey with DailyPay and Dollar Tree in Global Fintech Series. 

• Two-thirds (67%) of Americans plan to spend the same or more in 2023 on retail purchases.
• And three-quarters of Americans (73%) plan to shop the same or more in-person for goods like furniture (81%), home goods (69%), apparel (65%), sporting goods (65%), and electronics (59%) versus online. 
• Americans still prefer a bargain: More than two in five (44%) consumers are more likely to prioritize shopping for deals in-store than last year.
• Growing usage of buy now, pay later (BNPL) may be fueling consumer confidence: In a recent Harris Poll survey with Mastercard, four in ten global citizens say they are comfortable with using BNPL, and Juniper Research forecasts that BNPL could account for nearly a quarter of all international e-commerce transactions by 2026. 

Takeaway: “It’s encouraging to see that Americans’ spending plans are trending upward, with only a third planning to spend less this year despite these times of financial uncertainty,” said Kate Cheesman, Vice President of Customer Success, DailyPay. “With more people shopping in-store, retailers will prioritize retaining their top talent to maximize their in-store experience.”

Three-Fourths of Americans Live in Their Kitchens: Forbes-Harris Poll

Need a reason to splurge on that new white marble countertop? According to a recent Harris poll with Bertazzoni in Forbes, our kitchens are the center of the house.

• Three out of four homeowners (75%) say they use the kitchen more than any other room in their home. So COVID transformed kitchens into workspaces, study halls, and entertainment centers for cooped-up families.
• What are homeowners looking for in a new kitchen? More than eight in ten (84%) want sustainable products. But also some ‘bling’: “prep kitchens” are one of the hottest new premium kitchen trends, with (42%) of homeowners saying they would want a second kitchen in their home if money were no object – jumping to (61%) of those aged 18 to 44.
• Are you getting hungry? Take advantage of our what to expect in food trends in 2023 with Instacart covered by Good Morning America. 

Takeaway: “One of the positive things about the pandemic is that people are experiencing the pleasure of more time at home,” says Nicola Bertazzoni, Bertazzoni Chief Operating Officer and sixth-generation family member in the business. “Today, we see the kitchen as a source of joy and inspiration.”

Posting Leads to Pink Slips According to America’s HR Managers: Express Employment Professionals-Harris Poll

We’ve reported that job seekers turn to social media to find work. Still, Instagram could get an employee insta-fired, as we saw in a new survey of hiring managers with Express Employment Professionals in Staffing Industry Analysts:

• Nearly 9 in 10 (88%) U.S. hiring managers say they would consider firing employees based on their social media posts, with only (12%) saying there is nothing an employee could post that would get them fired. 
• What’s a fireable post?: Offenses include publishing content damaging the company’s reputation (59%), revealing confidential company information (58%), showcasing/mentioning illegal drug use (50%), violating the company’s social media help policy/contract (45%), and showcasing/mentioning underage drinking (38%).
• Don’t Be TikTok-ing on the Clock: 2 in 5 employers (40%) discourage the use of social media during work hours, and a fifth (19%) of businesses even block social media sites on company property.

Takeaway: “Social media is a powerful tool for expression and connection, but a poor decision in content posting can haunt individuals the rest of their careers,” said Bill Stoller, CEO of Express Employment International. “The best advice is to refrain from publishing anything you wouldn’t want your boss to see or think you may regret in the future.”

One-Third of Employees Are “Quietly Up Working”: Yoh-Harris Poll

A new Harris Poll with Yoh signals a willingness among some employees to prove their worth and ensure job security in the face of potential economic and workplace downturns. (We found this week that nearly half of employed Americans (48%) are worried about losing their jobs).

• That particular third: Nearly three in ten employees (29%) are more likely to go above and beyond by taking on a new project, learning new skills, or undergoing additional training to position themselves as an asset to their employer.
• Some employees have no problem committing extra time to their job for no additional salary: Over one in five (22%) are willing to work more hours than are required of them (e.g., in the morning, at night, on the weekends) without receiving additional compensation.
• However, the threat of a recession is not stopping all Americans from considering new employment: Nearly a quarter (23%) are just as likely to consider working for a new company as staying at their current organization.
• Especially gig employment: (29%) are more likely to seek work outside their current job (e.g., via a second job or side hustle) to supplement their current income.

Takeaway: Says Emmett McGrath, President, Yoh. “While employees appear willing to demonstrate increased loyalty and a renewed commitment to their employer in these uncertain times, organizations that take advantage of this goodwill do so at their peril.”