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Corporate Directors Predict Economic Growth in 2014

WASHINGTON, Aug. 19, 2013 (GLOBE NEWSWIRE) -- An ongoing survey by the National Association of Corporate Directors (NACD) shows corporate directors continue to feel positive about the economy and in hiring in 2014. NACD's Board Confidence Index (BCI), which takes the economic pulse of the director community quarterly, showed a score of 63.1—a score above 50 indicates a positive outlook on the markets.

The view on hiring follows suit with the steady positive economic outlook, with 34 percent of respondents expecting to increase their workforce in the next three months compared with 32 percent in Q1. "Although the economy is still recovering, the relatively stable director confidence in the markets and in hiring are encouraging signs," said Ken Daly, president and CEO of NACD.

Produced in conjunction with Pearl Meyer & Partners, NACD BCI also surveys directors on the status of talent development. Directors note their top-three challenges in attracting and retaining talent are competitive compensation pressures, a lack of qualified candidates, and insufficient internal management development, according to the NACD BCI.

"Asked about the biggest factor in their compensation decision making, directors cited the competitive market, which reflects continued economic improvement," said David N. Swinford, president and CEO of Pearl Meyer & Partners. "Say on pay and ISS guidelines, even with say-on-pay votes taking place, now barely register on directors' radar as a consideration."

For detailed metrics, methodology, and historical data from the BCI, visit http://www.nacdonline.org/Resources/BCIindex.cfm. For additional insights on how the Q2 2013 BCI results will impact corporate pay practices, visit www.pearlmeyer.com/boardconfidenceindex.

About NACD

The National Association of Corporate Directors (NACD) is the only membership organization focused exclusively on advancing exemplary board leadership. Based on more than 35 years of experience, NACD identifies, interprets, and provides insights and information that corporate board members rely upon to make sound strategic decisions, confidently confront complex business challenges, and enhance shareowner value. With more than 13,000 corporate director members, NACD provides world-class director education, director training, and proprietary research about leading boardroom and corporate governance practices to promote director professionalism and bolster investor confidence. Furthermore, to create more effective and efficient corporate boards, NACD provides independent board evaluations and custom-tailored in-boardroom education and training programs, as well as director-led conferences, forums, and peer-exchange learning opportunities to share ideas about current and emerging issues. Fostering collaboration among directors and governance stakeholders, NACD is shaping the future of board leadership. To learn more about NACD, visit www.NACDonline.org. To join, please contact Kelly Dodd at kkdodd@NACDonline.org or 202-380-1891.

About Pearl Meyer & Partners

For more than 20 years, Pearl Meyer & Partners (www.pearlmeyer.com) has served as a trusted independent advisor to boards and their senior management in the areas of compensation governance, strategy, and program design. The firm provides comprehensive solutions to complex compensation challenges for companies ranging from the Fortune 500 to not-for-profits, as well as emerging high-growth companies. These organizations rely on Pearl Meyer & Partners to develop programs that align rewards with long-term business goals to create value for all stakeholders: shareholders, executives, and employees. The firm maintains offices in Atlanta, Boston, Charlotte, Chicago, Houston, Los Angeles, New York, San Francisco, and San Jose, as well as London.

CONTACT: Media Contact: Henry Stoever Chief Marketing Officer 202-775-0509 hstoever@NACDonline.orgSource:National Association of Corporate Directors