Daily News – July 25, 2014
Hiring appears to be on the upswing at medium-sized enterprises, according to the inaugural American Express Survey of Mid-sized Companies. The survey found 81 percent plan to make an investment in human capital and hire staff over the next six months.
Midsize companies are defined as having annual revenues of $5 million to $1 billion.
Fifty-five percent of the companies surveyed said they have more employees than they did one year ago. Among those planning to add staff, 57 percent said they need to hire to support business volume. Additional reasons for hiring include:
- A new business venture: 38 percent
- The need for seasonal help: 29 percent
- The company has finally found the right candidate for positions they have been trying to fill for some time: 27 percent
Among those who plan to add staff over the next six months:
- 52 percent plan to hire only full-time employees
- 14 percent plan to hire only part-time employees
- 16 percent plan to hire both full and part-time staff
Revenues are reportedly up 70 percent year-over-year at U.S. middle-market companies, and 91 percent are confident they can access the capital they need to grow. Despite this, 83 percent expect cash flow concerns to arise over the next six months, according to the survey.
“Medium-sized enterprises in the U.S. are in an excellent position for expansion,” said Susan Sobbott, president, global corporate payments, American Express. “Their positive outlook is bolstered by increasing revenues and access to capital for investment, however getting a handle on cash flow continues to be challenging.”
The survey conducted in the U.S. and six other countries between June 2 and June 19, 2014. It included 339 financial decision makers in U.S. Interviewing was conducted by Ebiquity Research.
Provided by Yaekle and Company, a full service executive search firm connecting innovative companies with experienced and proven marketing and advertising talent. Guaranteed.