FOR IMMEDIATE RELEASE
CONTACT: PAT FREW 859-431-1500, EXT 10
513-703-3027 (M)
Covington, KY/August 17, 2023—Respondents in the latest Annual Covington Business Council member survey site economic climate and hiring qualified workers as immediate concerns although they are twice as likely to believe growth is ahead versus hardship.
Hight Performance Group, a national respected Austin, TX management consulting group helping associations and nonprofits operate and serve stakeholders more effectively was commissioned by CBC to gain insights on issues affecting Covington businesses and identify suggested priorities for the Council’s 2024-26 strategic plan.
Among the findings gleaned from the 212 respondents:
- The top three concerns over the next 18 months were Economic Climate, Community Awareness of Their Organization and Marketing/Visibility in the Community;
- Top challenges facing Covington over the next 3-5 years were Attracting Qualified Employees, Economic Climate and Retaining Qualified Employees.
- More than one-third were uncertain about the economic impact moving forward but 32% said they foresee business growth ahead versus 13% expecting business decline.
- The organization received a Net Promoter Score of 44, based on the likelihood of members to recommend CBC to a friend or colleague. For context 30-40 is considered good with 50 or more excellent.
- Sixty three percent said CBC could best support members by creating ways for members to connect and engage other members through networking. A similar sentiment was voiced when asking CBC’s primary community role.
- Respondents said CBC should focus in the next three years on continuing to drive member value and benefits through networking, events, visibility-raising and educational opportunities.