In the most recent Small Business Success Index, small business owners responded to questions about their workforce. They noted that concerns about workforce were less important than those about capital access or marketing and innovation, but are still ranked above those on customer service, computer technology or compliance. The workforce index score was 76 — a ‘C’ grade — which remains fairly constant from the last Small Business Success Index.
Slipping Workforce Scores
While the overall Workforce score did not dramatically change, it has slipped slightly, which could create concerns for most small businesses. Specifically, concerns seem to focus on training and developing employees: a year ago, the Small Business Success Index reported 65 percent of small businesses were successful in this area. In the most recent set of results, however, only 58 percent reach the same level.
Not all factors that the Small Business Success Index measures for creating an overall workforce score showed slips, however. Small business owners reported better results in rewarding employees and maximizing the productivity of their employees. Overall, however, the changing economic situation makes it necessary for small businesses to improve workforce factors in the near future — it may not be the highest priority in a business today, but it’s going to be increasingly important.
It is worth noting that 33 percent of small businesses have just one employee — also known as the owner. On average, a small business has two employees, typically still counting the owner. It may also be counting a partner or co-owner. That information does mean that workforce concerns look a little different for roughly a third of small businesses than all the rest: training, development and maximizing efficiency are at least somewhat higher priorities when the owner of a small business is the only person on the job. Rewarding employees and employee morale looks very different in such situations.
Spouse Participation
This Small Business Success Index brought interesting considerations about spouse participation to light. While every small business owner knows that, when you start a new business, having the support of your spouse or significant other makes your life a lot easier. But the numbers show that the participation of a spouse or significant other doesn’t have a discernible impact at first — whether or not your significant other is involved, you have similar odds of success.
But the long-term impact is much more dramatic. If your significant other takes on a full-time role in the business, it can lead to success. Businesses with spousal participation rank as more successful on the Small Business Success Index — a 76. In comparison, businesses where spouses play no role rank a score of 73, while businesses with spouses as silent partners rank a score of 72. Those numbers can have interesting ramifications for your workforce if your significant other is interested in getting involved with the business.
Image by Flickr user iyasser
Web.com is now offering forums designed to support small businesses in cities throughout the US. Learn more about these forums here: http://Businessforum.web.com/
Tags: SBSI, small business, social media, Workforce
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