HR and business performance solutions provider Insperity, Inc. has announced the release of the results of its Business Confidence client survey giving insights into current and near-term plans of small-and-medium sized businesses. Data was collected from nearly 5,000 business executives who were quizzed on their confidence and concerns with the economy and how it will shape their business plans for the remainder of 2013. Results from the survey follow:
• 40 percent of respondents said they added employees during Q2 2013 compared to 28 percent one year ago. Fifty-six percent state that their workforce numbers remained the same and just 4 percent said they laid off employees.
• Compared to Q2 2012, employee salaries were up an average of 2.8 percent while bonuses were down 1.2 percent and commissions increased by 9.1 percent.
• 58 percent of employers have included in their business plan to pay their employees their current rate for the rest of 2012 while 28 percent plan to increase pay. Just 2 percent plan to reduce pay while 12 percent are unsure of their plans.
• Regarding the economy, 34 percent of business owners think it is recovering, 27 percent expect it to begin recovering by the end of the year, and 38 percent are unsure.
• The biggest concerns facing small-and-medium sized businesses were reported as: economy (50 percent) and health care reform/rising health care costs (48 percent).
• 60 percent of businesses are concerned about government expansion, 56 percent worry about tax increases, and 55 percent are nervous about the national debt.