September was a paradox for Pavilion executives: Revenues rebounded, which should be good news, but our data shows there are still areas of key concern as we inch closer to an expected recession.
Our October Pavilion Pulse Benchmarking Report surveyed Pavilion Executive members on their company performance, outlook, and sentiment based on September 2022 results. While our members are unhappy with results and think they’ll miss revenue targets, there are also signs of optimism around layoffs and hiring.
The topline takeaway from our executives: 73% reported an increase in September revenues over August, an increase of 22% month over month. And 37% of our members said their revenues beat targets, up 6% from the previous month.
Despite the good news about revenue, 52% of Pavilion members said they felt negative about September’s performance, while 34% didn’t feel confident they would hit revised financial targets — a 12% jump from last month.
In our survey, 19% of respondents anticipated going through layoffs in the next six months. But that’s actually down from 26% in August. Hiring pauses were stable month-over-month as 57% of executives said they have paused or stopped hiring, with fewer reported layoffs after a surge earlier in Q3.
For all the uncertainty, Pavilion Executive members can see a path forward. Our data have consistently found that companies are more likely to hit their targets if they consistently focus on selling to Enterprise organizations, make targeted hires, increase or maintain infrastructure investments, and increase marketing spend (primarily in paid search, social, and content marketing).
Looking for more? Download the report for further insights into today’s market.
Please note: Full access to the report and raw survey data is available only to Pavilion Executive Members. To join Pavilion, apply here.