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DES MOINES, Iowa -- Even with rising prices and increasing inflation, Iowa businesses and manufacturers are still optimistic about the next three months of 2022.
"Those who responded to the survey for the second quarter of 2022--60 percent of them say the expect to expand sales. They say their sales and revenue will grow during that quarter--and that's terrific. That's good news for all of us when that happens," says Iowa Association of Business and Industry (ABI) President Mike Ralston.
He says the Iowa ABI Quarterly Business Survey shows second-quarter optimism is tempered from the first quarter, when 76 percent of businesses and manufacturers surveyed expected increased sales.
"We're still expecting an increase, but it's a smaller increase than before. Part of that is a reflection of supply chain issues and increased costs--those sorts of things. I think they're being realistic," Ralston says.
He says the Quarterly Business Survey also shows businesses and manufacturers shifting their focus when it comes to workforce--not just on attracting new workers, but keeping those they already have.
"One impact we've seen from the pandemic is that you have to work to keep your workers. You'd better make sure you're paying good pay and benefits, and you'd better make sure you're providing a good working environment. Otherwise, folks have just determined they're not going to stay in a workplace they don't like--nor should they," Ralston says.
He says skilled workers are hard to replace, and with other available opportunities, employees need to feel fulfilled with their current employer.