According to SCORE (Counselors to America’s Small Business), there was a marked increase in small business hiring over the past year. This trend is important for several reasons:
- Small businesses employ almost half of all workers in the United States;
- Small business hiring has been credited for much of the economic recovery since the 2008 U.S. recession;
- The types of jobs small businesses are seeking to fill are now significantly changing.
In November 2017, SCORE published their latest Megaphone of Main Street Small Business Jobs Report which outlines their findings.
- 47% of non-employer (solopreneur) firms reported hiring other people part-time to help run the business
- 20% of businesses reported replacing employees (of any type) with contractors over the past six months
- Business owners reported an increase in hiring in all categories of workers over the past six months – with the greatest growth in one-time project or gig workers (37%)
The top 3 business functions outsourced to contractors:
- Technology (42%)
- Accounting (41%)
- Marketing (38%)
Keep in mind that trends in hiring less full-time employees isn’t limited to only small businesses. Larger corporations are constantly looking for ways to bolster their bottom line. With Payroll among the top expenses for any organization, hiring part-time or contract employees to fill openings is not an uncommon practice in corporations.
For transitional employees and younger workers about to enter the workforce, these employment changes may impact the way you approach the ever-changing job market. Remember today’s preparation determines tomorrow’s achievement; so it’s more important now than ever before to ensure you have marketable and transferable job skills. Make continuous professional learning a personal priority.
Knowledge is power. Be prepared for the changes that will affect you, and remain optimistic and open-minded to take full advantage of your future career opportunities.
Click on the infographic links below and visit SCORE.org. for more information.
SCORE Small Business Jobs Report_Fall 2017
SCORE Small Business Jobs Report_The Gig Economy
Author: Julie Ramdial, President of U Learn Enterprises, Inc.
