For the U.S. economy to make a full recovery, the success of the nation's small businesses is critical. Despite their size, these companies support a large number of workers, as well as provide the public with many necessary or desirable products and services. One good sign for these enterprises is that hiring is slowly picking up, but leaders also need to ensure they're ready to take on new staff members while still maximizing bottom lines.
With the help of small business accounting software, organizations can gain deeper insight into their financial well-being and address any potential costly errors before they occur. By using high-tech methods to track money and update records, staff members can easily do their part in keeping all files accurate. In addition, small business management software can play a significant role in staying organized as entities grow. Executives must ensure that all aspects of their company, including marketing, hiring, bookkeeping and more, are running smoothly. Streamlining operations is easy and cost-effective with updated technological solutions.
Job market on the mend
According to a survey by CareerBuilder and CareerRookie, business owners may be opening up to the idea of bringing on more workers. The research found that 53 percent of American employers plan to hire recent college graduates during 2013, up from only 46 percent in 2011. In 2012, figures were similar, with 54 percent of respondents indicating they would hire these new job market entrants.
Among those planning to add staff, 27 percent expect to raise starting salaries. The survey also noted that recruiters will likely focus on prospective employees who can fill customer service roles, as well as individuals with highly specific skills sets, such as IT, healthcare and finance.
David Rosenberg, chief economist and strategist at Gluskin Sheff & Associates, recently told The Daily Ticker that he sees conditions for American workers and employers as gradually improving.
"Labor demand is actually on the rise and job openings on the part of the business sector is up more than 10 percent in the past year," Rosenberg said. "Even though hirings are anemic, the levels of firings…[are] at an all-time low."
Rosenberg also noted that another good sign is that more workers are choosing to quit their jobs, up 7 percent from last year. This likely means that the economy has improved to a point where people can feel more confident in their ability to find a better fit in a timely fashion, rather than clinging to less-than-ideal employment situations out of fear.
To support the job market, businesses need to use business management software to continue running effectively and profitably.