Q4 2013 SMB Job Generation Outlook Infographic
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The Lucas Group SMB Job Generation Outlook began in 2013 as the only national report defining the economic and employment landscape for small to mid-sized businesses.
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Q4 2013 SMB Job Generation Outlook Infographic
- 1. SMB JOB GENERATION OUTLOOK Q4 2013 BIPARTISANSHIP IMMIGRATION REFORM BIPARTISANSHIP IN FEDERAL GOVERNMENT BIPARTISANSHIP IN STATE GOVERNMENT HIRING VETERANS The majority of SMBs say they’re amenable to hiring veterans, but only 13% have specific plans to do so in the coming months. Specific plans to hire military veterans 13% Will not target military veterans for hiring 11% Hire military veterans but do not have a specific plan 76% IMPACT OF RETIRING BABY BOOMERS With 10,000 Baby Boomers retiring each day in the U.S., more than half of SMBs expect some level of business impact from retirements. 46% SOME IMPACT 8% VERY BIG IMPACT3% DON’T KNOW 43% NO IMPACT AT ALL 2% VERY OPTIMISTIC 10% SOMEWHAT OPTIMISTIC 19% NEITHER OPTIMISTIC NOR PESSIMISTIC 20% SOMEWHAT PESSIMISTIC 49% VERY PESSIMISTIC 3% VERY OPTIMISTIC 15% SOMEWHAT OPTIMISTIC 26% NEITHER OPTIMISTIC NOR PESSIMISTIC 25% SOMEWHAT PESSIMISTIC 31% VERY PESSIMISTIC For more survey results and data from the Q4 2013 SMB Job Generation Outlook, download the full report here. 51% OPTIMISTIC 34% NEITHER OPTIMISTIC NOR PESSIMISTIC 15% PESSIMISTIC 51% AGREE 28% NEITHER AGREE NOR DISAGREE 21% DISAGREE 48% AGREE 21% NEITHER AGREE NOR DISAGREE 25% DISAGREE 35% AGREE 24% NEITHER AGREE NOR DISAGREE 41% DISAGREE 30% AGREE 22% NEITHER AGREE NOR DISAGREE 48% DISAGREE 38% OPTIMISTIC 33% NEITHER OPTIMISTIC NOR PESSIMISTIC 39% PESSIMISTIC Q1 2014 JOB GROWTH PROSPECTS FOR YOUR COMPANY Q1 2014 JOB GROWTH PROSPECTS FOR THE UNITED STATES JOB GROWTH PROSPECTS FOR COMPANY AND COUNTRY While more than half of SMBs report feeling optimistic about their own company’s job growth, only 38% feel the same about overall U.S. job prospects. HIRING DIFFICULTY SMB leaders report ongoing challenges in finding and hiring qualified talent for open professional positions. 9% EXTREMELY DIFFICULT 50% DIFFICULT 8% EASY 1% EXTREMELY EASY 32% NEITHER EASY OR DIFFICULT ECONOMIC PROSPECTS FOR COMPANY AND COUNTRY Almost two-thirds of SMBs report an optimistic opinion on their own company’s economic prospects, while only 46% feel the same toward the overall U.S. economy. 17% VERY OPTIMISTIC 48% SOMEWHAT OPTIMISTIC 22% NEITHER OPTIMISTIC NOR PESSIMISTIC 11% SOMEWHAT PESSIMISTIC 2% VERY PESSIMISTIC ECONOMIC PROSPECTS FOR YOUR COMPANY NEXT QUARTER 6% VERY OPTIMISTIC 40% SOMEWHAT OPTIMISTIC 29% NEITHER OPTIMISTIC NOR PESSIMISTIC 18% SOMEWHAT PESSIMISTIC 7% VERY PESSIMISTIC ECONOMIC PROSPECTS FOR THE U.S. NEXT QUARTER WORKFORCE RETIREMENT The majority of SMBs expect retirement rates in the coming quarter to be less than 10% of their workforce. Respondents % to Retire 64% < 5% 16% 5% - 10% 4% 11% - 15% 4% 16% - 20% 8% > 20% 4% Don’t know HOW RETIREMENT IMPACTS COMPANIES SMBs report a mixture of both positive and negative business impact from Baby Boomer retirement. 54% CREATES A KNOWLEDGE GAP THAT’S DIFFICULT TO BRIDGE 17% IMPROVES ABILITY TO CONSIDER NEW APPROACHES & PROCESSES 10% IMPAIRS ABILITY TO COMPETE 1% OTHER 18% ENHANCES PROSPECTS FOR FUTURE INNOVATION AND GROWTH HOW SMBs SEE THEMSELVES The vast majority of responding SMBs report a position of maintaining stability or growth. 3% 9% 50% 38% Survival Controlled Retrenchment Maintaining Stability Growth IMPACT OF PATIENT PROTECTION AND AFFORDABLE CARE ACT How much of an impact will the Patient Protection and Affordable Care Act have on your business plans? 10% NO IMPACT 22% A LITTLE IMPACT 35% SOME IMPACT 33% A LARGE IMPACT Indicate your feelings about the following: How much do you agree or disagree with the following proposals for immigration reform? THE U.S. SHOULD EASE REQUIREMENTS FOR SKILLED WORKERS IN IT, SCIENCE AND OTHER HIGH-DEMAND FIELDS. THE U.S. SHOULD EASE REQUIREMENTS FOR SKILLED LABORERS IN MANUFACTURING. THE U.S. SHOULD EASE REQUIREMENTS ONLY FOR IMMIGRANTS WHO ARE ALREADY LIVING IN THE U.S. THE U.S. SHOULD EASE REQUIREMENTS FOR ALL IMMIGRANTS, NOW AND IN THE FUTURE. Join the conversation on Twitter @Lucas_Group.