EXECUTIVES AT MIDSIZE FIRMS LOWER THEIR HIRING OUTLOOK IN 2012

May 17th, 2012

Author: Glenn Levar, CEO of Shared Time Human Resources Management

Midsize companies to focus on improving their cash balances, according to Deloitte survey.

Executives at midsize U.S. companies are less optimistic than they were a year ago about their hiring plans as they focus on managing costs, according to a Deloitte survey released Monday.

The percentage of midmarket executives expecting to grow their U.S. workforce dropped to 42% compared with 48% in 2011, Deloitte reported in its "Mid-Market Perspectives: 2012 Report on America's Economic Engine" survey.

Deloitte defined midmarket companies as firms with annual revenues between $50 million and $1 billion.

Of the 528 U.S. executives responding to the survey, 86% said continued economic uncertainty has dampened their expectations for economic growth this year.

"Because of the significantly slower growth than we've seen in previous recoveries, midmarket executives are increasingly cautious about their expectations for 2012," said Tom McGee, national managing partner for Deloitte Growth Enterprises Services. "Midmarket companies are now trying to meet the challenges of this volatile economy by taking a more adaptable approach to managing certain key business fundamentals."

Instead of adding headcount, 51% of midmarket employers plan to invest in their existing workforce through training, up from 34% last year.

Midsize employers who are expecting to fill positions say they're having trouble finding skilled talent, particularly in engineering, health care and information technology functions, according to the report.

The volatile global economy has executives at midsize firms focused on balance-sheet health and investments.  May 7, 2012 Jonathan Katz industryweek.com

CLICK HERE to view the article.

TECA Tips: The Confidentiality Agreement Protects Your Secret Sauce

Most small businesses have something that is unique.It could be a customer list, a secret recipe, or a special manufacturing process. All of these must be protected from people visiting your manufacturing facility or even from a rogue employee.

Frank Manning, Esq. of Manning and Manning has extensive experience and excellent advice on how to protect an entrepreneur’s company assets.It can be as easy as judicious use of a confidentiality agreement.

In a recent Entrepreneurs Club Radio interview, Mr. Manning relates his ideas on how to prevent problems that could damage your company.

Please watch this short video.

The Entrepreneurs: Zappos, Mental Floss and Cliff Clavin

Seth Godin’s Tribes is a classic business book that talks about companies that have developed a loyal customer following.  Zappos, CrossFit and certainly Apple have created customers and clients who are devoted supporters. Mental Floss magazine has developed a tribe of its own - people who want to feel smart.

In a recent Entrepreneurs Club Radio interview, Toby Maloney, Vice President of Business Development, talks about why they have been so successful.

Please watch this short video.

An Entrepreneur’s Best Friend: The Insurance Agent

Small business owners and entrepreneurs need to report changes in employees, assets, and product lines to their insurance agents. In a recent Entrepreneurs Club Radio interview, Brian Tornow of Strassman Insurance Services explains the importance of communicating to potentially save your company thousands of dollars.

Please watch this short video.

Entrepreneurs and Contact Management Systems

Glenn Levar of Shared Time Human Resource Management maintains that if something isn’t documented, it never happened. ACT!, Goldmine, and other contact management systems are essential for the small business owner to document day-to-day activities.  Micheal Kadlub of Design R1, a recent guest on Entrepreneurs Club Radio, talks about the importance of good record keeping.

Please watch this one minute video.

“How Big is Small?”

Defining your Target Market: How BIG is the Small Business Market...

Is your best customer a small business  If so, how BIG is your market?

If your company targets the small business, have you ever stopped to really quantify what the “small” business target market means to YOUR business?

Out of the approximately 28 million companies in the United States, you may be surprised how many companies fit into your target market.

The Small Business Administration defines small business as companies with under 500 employees. Believe it or not, if you target “small business”, you’ve just targeted 99% of all businesses, because by this definition, almost all of the businesses in the USA are small!

Don’t believe me? You can take a look at the breakdown of the raw numbers from the Small Business Administration’s count from 2006, which is the most recent numbers with all the breakouts by employees.

So, maybe you’re targeting the medium-sized small businesses? Is SMB what you mean? Confusion of the term small and medium sized businesses (SMB)

If you are a B-B marketer, do you market to the small business? Let me know by leaving a comment below.

About Chris Brown: Since 1998 when she started her marketing firm, Chris has helped small and medium sized companies with improve their marketing to get better sales results. For 17 years prior to that, she helped large Fortune 500 companies with their marketing efforts. She likes making a difference and sharing her knowledge. Read more at her company website http://www.resources-results.com

TECA Tips: Think Imagery!

Static websites with a few pictures, no movement, or excitement are becoming a less effective marketing tool.  Chris Schmitt, COO of Insivia, is on a mission to take small business to a new marketing level. Today’s websites should be filled with imagery - photos that change, videos, and interactive images.

In this Entrepreneurs Club Radio interview he explains his thoughts.

Please listen to this 4 minute audio.