q1 2013 smb job generation outlook infographic

SMB JOB GENERATION

OUTLOOK

Q1 2013

TITLES & COMPANY REVENUE

Respondent title:

49%$50M - $150M

27%$151M - $300M

20%$301M - $600M

4%$601M - $1B

2012 company revenues of responding executives:

46%President

42%CEO

12%Business Owner

HOW RETIREMENT IMPACTS COMPANIES

IMPACT OF MINIMUM WAGE INCREASE

SMBs report a mixture of both positive and negative business impact expected in 2013 from Baby Boomer retirement. (multiple responses allowed)

If the minimum wage was to increase to $9.00 per hour, what impact would that have on your business? (multiple responses allowed)

37% CREATES A KNOWLEDGE GAP THAT’S DIFFICULT TO BRIDGE

We will increase prices to our end customers ...29%

We will reduce our new hiring plans .............. 25%

We will reduce our current work force .. 14%

We will eliminate all new hiring .......................... 9%

We will not stay in business ...................... 7%

Increasing the minimum wage will not impact my business / other ......... 2%

Don’t know ..............50%

32% IMPROVES ABILITY TO CONSIDER NEW APPROACHES & PROCESSES

13% IMPAIRS ABILITY TO COMPETE4% OTHER

41% ENHANCES PROSPECTS FOR FUTURE INNOVATION AND GROWTH

ECONOMIC PROSPECTS FORCOMPANY AND COUNTRY

Almost 71% of SMBs report a somewhat or very optimistic opinion on their own company’s 2013 economic prospects, while less than 55% feel the same toward the overall U.S. economy.

25% VERY OPTIMISTIC

46% SOMEWHAT OPTIMISTIC

16% NEITHER OPTIMISTIC NOR PESSIMISTIC

11% SOMEWHAT PESSIMISTIC

2% VERY PESSIMISTIC

ECONOMIC PROSPECTS FOR YOUR COMPANY IN 2013

11% VERY OPTIMISTIC

43% SOMEWHAT OPTIMISTIC


17% SOMEWHAT PESSIMISTIC

9% VERY PESSIMISTIC

ECONOMIC PROSPECTS FOR THE UNITED STATES IN 2013

59% OPTIMISTIC


22% PESSIMISTIC

47% OPTIMISTIC


32% PESSIMISTIC

JOB GROWTH PROSPECTS FOR YOUR COMPANY IN 2013

JOB GROWTH PROSPECTS FOR THE UNITED STATES IN 2013

HOW SMBs SEE THEMSELVES IN 2013The vast majority of responding SMBs report a position of maintaining stability or growth in 2013.

6%

19%

35%40%

SurvivalControlled RetrenchmentMaintaining StabilityGrowth

WORKFORCE RETIREMENT IN 2013

Expected percentage of SMB workforce to retire in 2013, according to survey respondents.

Respondents % to Retire

66% <5%

16% 5% - 10%

9% 11% - 15%

5% 16% - 20%

4% Don’t know

SMBs ARE THE JOB GENERATORS OF THE U.S. ECONOMY.

I SEE MY COMPANY AS A JOB GENERATOR.

55%AGREE

STRONGLY 29%AGREE

2%DISAGREE 1% DISAGREE STRONGLY

13%NEITHER AGREE NOR DISAGREE

38%AGREE

STRONGLY 39%AGREE

6%DISAGREE

2% DISAGREE STRONGLY

15%NEITHER AGREE OR DISAGREE

HIRING VETERANSThe majority of SMBs surveyed were amenable to hiring veterans, though most do not have specific plans to do so in 2013.

Specific plans to hire military veterans 22%

Will not target military veterans

for hiring 19%

Hire military veterans but do not have a

specific plan 59%

WORKFORCE, WAGES & SALARIES, AND BENEFITS INCREASES IN 2012

2012 changes in SMB workforce and related expenses as shared by survey respondents:

WORKFORCE WAGES & SALARIES

BENEFITS EXPENDITURE

44%Increased

54%Increased

55%Increased

41%Stayed the same

37%Stayed the same

39%Stayed the same

15%Decreased

9%Decreased

6%Decreased

HOW SMBs VIEW THEMSELVES REGARDING JOB GENERATION

SMB Presidents, CEOs, and business owners were asked how they viewed both the market and their specific company in terms of U.S. job generation.

IMPACT OF RETIRING BABY BOOMERS

With 10,000 Baby Boomers retiring each day in the U.S., almost 55% of SMBs expect some level of business impact from retirements in 2013.

51%SOME IMPACT

3%VERY BIG IMPACT

1%DON’T KNOW

45%NO IMPACT AT ALL

HIRING DIFFICULTY

Rate the level of difficulty your company faces in finding qualified candidates for professional and management positions.

10%EXTREMELY

DIFFICULT

50%DIFFICULT

10%EASY

3%EXTREMELY EASY

27%NEITHER EASY OR DIFFICULT

JOB GROWTH PROSPECTS FOR COMPANY AND COUNTRY

While more than half of SMBs report feeling somewhat or very optimistic about their own company’s job growth, only 47% feel the same about overall U.S. job prospects.

29%

9%

7%2%

25%

50%

14%

q1 2013 smb job generation outlook infographic

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