Small business owners face many challenges including a weak economy, government regulations, healthcare costs, and finding new customers. While slightly more optimistic about the economy in 2014 than 2013, most view the economy as still in recession. Their top concerns are the weak economy, customers, competition, and government rules. To address these challenges, many plan to use social media marketing, purchase new equipment, and expand services. Providing great customer service, integrity, and working hard are seen as most important to success. Employees' top desire is better pay and benefits. The most common benefits offered are paid time off, health insurance, and retirement plans.
This document summarizes the results of a 2013 survey of 38 executive search consulting firms on their equity structures and compensation models. Key findings include:
- 45% of firms are 100% founder-owned, while 55% have a mix of founder and other owners. Revenue generation is the most important factor in inviting new owners.
- Ownership is typically purchased from individual owners or the firm. Payment is often loan-based and structured over 1-5 years.
- Consultant compensation averages 45% of revenue generated and increases with performance. Bonuses make up a larger portion of pay for top performers.
- Advice to new firms includes making ownership and pay clearly performance-based and incentivizing business development.
The document summarizes the results of a compensation survey of 554 financial executives. It finds that the average salary increase was 3% for both public and private companies. Less than a quarter receive long-term cash incentives, but nearly half receive stock-based incentives like stock options. Benefits like health insurance and retirement plans are standard. Cell phones remain the most common perquisite. Public company executives earn higher average salaries than private counterparts in most roles.
5 major opportunities awaiting manufacturers and their CFOsGrant Thornton LLP
It’s an exciting time to be in manufacturing. Revenues are on the rise, employment is up, and with potential for increased profits, today’s manufacturing CFOs understand that their role goes beyond the bottom line. A fall 2014 Grant Thornton LLP survey of 350 CFOs explored some of these burgeoning possibilities. This infographic identifies C-level insights about how to make the most of them.
Find out more about our survey at grantthornton.com/valueaddCFO.
Interim Partners - Research White Paper 2014Claire Carter
The document discusses interim managers and the UK business environment. It finds that the use of interim managers at senior levels is increasing as businesses focus more on performance. While cost-cutting pressure has eased, the pressure to deliver results remains high. This has led to greater demand for interim managers who can prove they can improve performance. The document also examines which sectors and roles interim managers expect to see the highest demand for in the coming year, with project/programme delivery roles expected to be most in demand.
The document outlines a roadmap for companies to adopt a sustainable business strategy in 3 steps:
1) Get leadership buy-in and do due diligence on green taxes, incentives, and supplier partnerships. Create a baseline of sustainability metrics.
2) Start small by picking financially viable low-hanging fruit like renewable energy and waste recycling partnerships. Incentivize employees to volunteer and support local charities.
3) Evaluate if the company understands sustainability benefits and is prepared to appoint a sustainability officer and reallocate resources, with alignment across the business.
The Silicon Valley Bank Startup Outlook report is based on an annual survey of private startup companies across the U.S. in the software, life science, hardware and cleantech sectors. This year, we surveyed startups in the UK for the first time too, and those findings can be found at svb.com/uk/startup-outlook-report. The reports found on this page break down the survey results and feature the issues that are of most importance to startup companies, such as hiring high skilled workers and dealing with the medical device tax. As more reports are completed you will find the updates here, so please mark this page and visit us again in the near future.
Small Business Tracking Study - Insurance & Financejgerber117
This document summarizes the findings of a small business tracking study conducted in May 2015. 505 small business decision-makers were surveyed across various industries. Key findings include:
- Most small businesses believe they are growing and are optimistic about future growth.
- Top concerns for small businesses include finding work-life balance, staying ahead of competition, and managing technology needs.
- Small businesses are upgrading their technology but concerned about cybersecurity.
- Health insurance, financial benefits, and commercial insurance vary depending on business size.
- Small businesses consult various sources for advice, including financial advisors, online research, and insurance brokers.
State of Small Business – Growth and Success ReportIntuit Inc.
In an effort to better understand how small businesses approach growth and how those views impact their operations and planning, Intuit QuickBooks released the “State of Small Business – Growth and Success” report.
Check out the results to learn more!
Working for yourself shouldn’t mean the odds of success are stacked against you. QuickBooks is committed to small business success with a comprehensive set of business tools that do the hard work for you – leveraging the latest in AI and emerging technologies to create a platform that evens the odds for small business owners.
This document summarizes the results of a 2013 survey of 38 executive search consulting firms on their equity structures and compensation models. Key findings include:
- 45% of firms are 100% founder-owned, while 55% have a mix of founder and other owners. Revenue generation is the most important factor in inviting new owners.
- Ownership is typically purchased from individual owners or the firm. Payment is often loan-based and structured over 1-5 years.
- Consultant compensation averages 45% of revenue generated and increases with performance. Bonuses make up a larger portion of pay for top performers.
- Advice to new firms includes making ownership and pay clearly performance-based and incentivizing business development.
The document summarizes the results of a compensation survey of 554 financial executives. It finds that the average salary increase was 3% for both public and private companies. Less than a quarter receive long-term cash incentives, but nearly half receive stock-based incentives like stock options. Benefits like health insurance and retirement plans are standard. Cell phones remain the most common perquisite. Public company executives earn higher average salaries than private counterparts in most roles.
5 major opportunities awaiting manufacturers and their CFOsGrant Thornton LLP
It’s an exciting time to be in manufacturing. Revenues are on the rise, employment is up, and with potential for increased profits, today’s manufacturing CFOs understand that their role goes beyond the bottom line. A fall 2014 Grant Thornton LLP survey of 350 CFOs explored some of these burgeoning possibilities. This infographic identifies C-level insights about how to make the most of them.
Find out more about our survey at grantthornton.com/valueaddCFO.
Interim Partners - Research White Paper 2014Claire Carter
The document discusses interim managers and the UK business environment. It finds that the use of interim managers at senior levels is increasing as businesses focus more on performance. While cost-cutting pressure has eased, the pressure to deliver results remains high. This has led to greater demand for interim managers who can prove they can improve performance. The document also examines which sectors and roles interim managers expect to see the highest demand for in the coming year, with project/programme delivery roles expected to be most in demand.
The document outlines a roadmap for companies to adopt a sustainable business strategy in 3 steps:
1) Get leadership buy-in and do due diligence on green taxes, incentives, and supplier partnerships. Create a baseline of sustainability metrics.
2) Start small by picking financially viable low-hanging fruit like renewable energy and waste recycling partnerships. Incentivize employees to volunteer and support local charities.
3) Evaluate if the company understands sustainability benefits and is prepared to appoint a sustainability officer and reallocate resources, with alignment across the business.
The Silicon Valley Bank Startup Outlook report is based on an annual survey of private startup companies across the U.S. in the software, life science, hardware and cleantech sectors. This year, we surveyed startups in the UK for the first time too, and those findings can be found at svb.com/uk/startup-outlook-report. The reports found on this page break down the survey results and feature the issues that are of most importance to startup companies, such as hiring high skilled workers and dealing with the medical device tax. As more reports are completed you will find the updates here, so please mark this page and visit us again in the near future.
Small Business Tracking Study - Insurance & Financejgerber117
This document summarizes the findings of a small business tracking study conducted in May 2015. 505 small business decision-makers were surveyed across various industries. Key findings include:
- Most small businesses believe they are growing and are optimistic about future growth.
- Top concerns for small businesses include finding work-life balance, staying ahead of competition, and managing technology needs.
- Small businesses are upgrading their technology but concerned about cybersecurity.
- Health insurance, financial benefits, and commercial insurance vary depending on business size.
- Small businesses consult various sources for advice, including financial advisors, online research, and insurance brokers.
State of Small Business – Growth and Success ReportIntuit Inc.
In an effort to better understand how small businesses approach growth and how those views impact their operations and planning, Intuit QuickBooks released the “State of Small Business – Growth and Success” report.
Check out the results to learn more!
Working for yourself shouldn’t mean the odds of success are stacked against you. QuickBooks is committed to small business success with a comprehensive set of business tools that do the hard work for you – leveraging the latest in AI and emerging technologies to create a platform that evens the odds for small business owners.
The document summarizes the key findings of the 2012 Startup Outlook Survey. Some of the main findings include:
- Technology startups continue to lead the economic recovery, with many exceeding revenue targets in 2011 and being optimistic about 2012.
- Startups expect to hire significantly, with software companies most optimistic. However, hiring expectations varied across sectors.
- While the US is still seen as attractive for innovation and entrepreneurship, foreign markets are seen as more appealing in areas like costs and regulations.
- Access to capital, education, IP protection, and healthcare costs were cited as top policy priorities, but progress was seen as limited or lost in some areas.
The survey found mixed perceptions among employees on the effects of Singapore's Fair Consideration Framework (FCF), which aims to increase hiring of local candidates. Some key findings:
- 70% of management consulting employees and 61% of financial services employees believe their employers are now hiring more locals due to the FCF.
- Over two-thirds of respondents expect it will be harder for foreign nationals to find roles in Singapore in the coming year.
- Perceptions on pay increases are mixed with more management consulting employees expecting rises compared to financial services.
- Views on competitiveness are also mixed but more management consulting employees believe the FCF will adversely affect Singapore's competitiveness.
Small Business Tracking Study - Healthcare Detailjgerber117
- The document summarizes findings from a study of 505 small business decision-makers across various industries in the US regarding their perceptions and concerns about healthcare.
- Most small businesses offer health insurance because they feel it is the "right thing to do" and as part of employee compensation packages. Their top concerns are rising costs and diminished value of coverage.
- Larger businesses are more likely to purchase insurance directly from companies, while smaller businesses use brokers. Growing businesses are more focused on technology and benefit needs.
- Online research and brokers are common sources of healthcare information regardless of business size. Most are satisfied managing healthcare but see the process as complex.
How world's companies act on corporate social responsibilityGrant Thornton LLP
Business as usual doesn’t cut it anymore for many companies around the world. They are becoming environmentally and socially responsible citizens, and demand the same from their vendors. Data from the Grant Thornton International Business Report reveals what’s driving this change and how it’s playing out across the globe.
Based on more than 2,500 interviews with business leaders, this infographic shows how the U.S. and 33 other countries stack up in their race for claiming responsible corporate citizenship.
See more at: http://gt-us.co/ZLFN4u
ERA 2010 Business Climate Survey Results Final 102010jagnew
A summary of responses to the 2010 Business climate survey conducted by Expense Reduction Analysts in partnership with Elite Financial Communications Group.
Authors: David F. Larcker and Brian Tayan
Stanford Closer Look Series, March 28, 2017
Long Version
Many observers consider the most important responsibility of the board of directors its responsibility to hire and fire the CEO. To this end, an interesting situation arises when a CEO resigns and the board chooses neither an internal nor external candidate, but a current board member as successor. Why would a company make such a decision? In this Closer Look, we examine this question in detail.
We ask:
• What does it say about a company’s succession plan when the board appoints a current director as CEO?
• What is the process by which the board makes this decision?
• Are directors-turned-CEO the most qualified candidates, or do they represent a stop-gap measure?
• What does the sudden nature of these transitions say about the board’s ability to monitor performance?
This survey summarizes trends in executive remuneration practices among South African companies over three years. Five key trends are identified: 1) Shareholders, especially institutional investors, have become more active in influencing executive pay; 2) Remuneration committees are engaging more with shareholders and making changes to pay programs as a result; 3) Committees continue focusing on linking pay to performance; 4) Financial metrics dominate incentive plans rather than non-financial metrics; 5) Committees now seek over 70% shareholder support for remuneration policies, seeing a 30% dissenting vote as a rejection.
This report summarizes the results of a survey conducted by Astbury Marsden to analyze employee retention in the City. The key findings include:
- Over two-thirds of respondents have been with their employer 1-3 years, while exchanges & trading platforms had both the highest proportion over 10 years and under 1 year.
- Interesting work was cited as the top factor for staying by 25% of respondents, while only 2% said feeling of security. Opportunities for career advancement and challenging work were also highly important.
- A lack of career development opportunities was viewed as the primary reason people leave employers, followed by a lack of recognition and unfair pay levels.
- Providing future opportunities within
Executives surveyed indicated that revenue growth was their top priority for the next three years as they work to recover from the economic downturn. However, they face challenges to growth including price transparency online, concerns about meeting earnings targets, and rising healthcare costs constraining hiring. While executives see opportunities in customer relationships and innovation, many noted constraints including outdated IT systems and organizational complexity. The survey found variations by region and industry in outlook and priorities. Overall, executives expressed a need to focus investments in critical areas like customer management to enable renewed revenue growth.
The document summarizes the key findings of a survey conducted by Penn Schoen Berland that polled over 25,000 individuals and 1,800 corporate executives across 25 markets globally. It finds that while corporations are generally seen as playing a positive economic role, significant work remains to be done to strengthen their reputations. Views of corporations differ based on location, with emerging markets having more positive perspectives than developed markets. The general public and corporate executives also have diverging views, especially in developed countries.
The survey found that 82% of companies expect reduced business performance in 2009 compared to 2008. Many companies plan workforce reductions, with 58% expecting cuts and 15% expecting overall reductions. While some salaries were frozen or deferred increases, only 13% actually decreased salaries. Most companies did not reduce retirement or health benefits contributions but did review costs. Top concerns for employees included anxiety about the economy and maintaining motivation.
- The document discusses findings from a SHRM survey on financial education initiatives in the workplace. It provides definitions, key findings, and data on challenges employees face, the impact on work performance, and types of financial education programs offered. The survey found that the most common challenges employees face are lack of funds, medical expenses, and saving for retirement. Personal financial issues negatively impact an employee's ability to focus and increases stress levels. While many employers offer assistance programs, fewer are providing financial education than in 2009. The top barriers to offering education are cost and lack of employee interest.
The document summarizes key findings from a 2012 survey of over 1,000 Canadian small business owners regarding employee benefits plans. It found that 63% felt an obligation to care for employees, though smaller businesses were less likely to feel this way. While 66% understood how benefits plans could help businesses, over half did not think benefits were more effective than higher wages. The top reasons for offering benefits were attracting and retaining employees (28%), keeping up with competition (17%), and ensuring employee well-being (17%). Only 35% saw benefits plans as a must-have, and just 3% cited benefits as a way to create organizational savings.
New esg disclosure burden for midsize small cap companiesdean771100
New ESG Disclosure Burden for Midsize Small-Cap Companies
Capital markets have grown increasingly complex and globalized over the years, leading to increased complexity of risk management. This has led to a growing need for enhanced disclosure by companies in order to provide investors with information that enables them to understand risks related, among other things, to environmental, social and governance factors (ESG). These new ESG disclosure obligations will carry additional burden for midsize and small-cap businesses that may lack the required resources to adequately address all of these concerns. The new ESG disclosure obligations are primarily designed to help investors better understand risks related to environmental, social and governance factors. Midsize and small-cap firms usually have a more limited budget for disclosures as compared with larger companies which can devote more resources towards this area. The new regulations could impose substantial burdens on smaller firms.
PEO clients have higher growth rates than other small businesses, with employment growth among PEO clients being 9% higher than other small businesses and 4% higher than overall US employment growth. PEOs are able to provide a broad array of HR services at a lower cost, with PEO clients enjoying estimated savings of 21% on HR administration. Using a PEO allows small business executives to focus on their core business by managing the human resources side of their business. PEOs also offer retirement plans, with 98% of PEOs offering retirement plans compared to only 16-30% of other small businesses, and higher employee participation rates in retirement plans among PEO client employees.
Despite continued uncertain economic conditions, most companies remain persuaded that there is a strong causal link between their financial performance over a 5-10 year time horizon and their current commitment to improving their environmental, social and governance performance.
Against this background, a number of business leaders are reviewing their approach to sustainability, weighing new corporate strategies and new business models in efforts to ensure their long-term sustainability.
This document discusses 9 important benefits decisions facing employers in 2016. It covers deciding whether to offer health insurance and pay penalties, managing required benefits reporting, weighing high-deductible health plans, switching to a health insurance exchange, offering voluntary benefits, providing tools to help employees choose benefits, using wellness incentives, planning spouse/partner coverage, and preparing for the upcoming Cadillac tax. The document provides context and considerations for each decision to help employers navigate an evolving benefits landscape.
CFA Institute & Edelman Investor Trust StudyEdelman
The study examines the dimensions that shape perceptions of trust in investment managers, as well as the actions that help build trust. It encompasses the opinions of institutional and retail investors in the United States, United Kingdom, Hong Kong, Canada and Australia on the state of trust in the investment management community.
Startup Outlook 2013: The Impact of the Medical Device Tax on US InnovationSilicon Valley Bank
New medical devices improve patient outcomes, reduce costs, create jobs and contribute to a healthier US economy and balance of trade. For nearly a decade, rising regulatory costs, delays and uncertainty have made it harder for medical device companies to succeed. The Medical Device Tax that went into effect on January 1, 2013 is compounding other challenges that threaten US leadership in medical device innovation. This report is based on responses from medical device startups who participated in Silicon Valley Bank’s annual Startup Outlook survey.
Chepenik Financial 3rd Quarter (2018) Plan Sponsor UpdateCourtney Gladden
This document discusses trends in 401(k) plans based on a survey. Key findings include:
- Participant contribution rates increased in 2016, with lower-paid employees contributing 6.1% and higher-paid contributing 7% on average.
- Company contribution rates have also increased steadily over time, reaching 4.8% of payroll in 2016. The majority (82%) of companies offered matching contributions.
- The most popular investment options continued to be actively managed domestic equity and target date funds, which held 22.9% and 22.2% of assets respectively.
Chepenik Financial 3rd Quarter (2018) Plan Sponsor UpdateCourtney Gladden
This document discusses trends in 401(k) plans based on a survey. Key findings include:
- Participant contribution rates increased in 2016, with lower-paid employees contributing 6.1% and higher-paid contributing 7% on average.
- Company contribution rates have also increased steadily over time, reaching 4.8% of payroll in 2016. The majority (82%) of companies offered matching contributions.
- The most popular investment options continued to be actively managed domestic equity and target date funds, which held 22.9% and 22.2% of assets respectively.
Management feels increased pressure to deliver growth in challenging market conditions. This pressure, combined with downward pressure on salaries and bonuses, increases the risk of unethical conduct like fraud. The survey found evidence that some companies are engaging in practices like overstating revenues and underreporting costs. While compliance programs have made progress, they may not be as effective as management thinks, and some employees feel such programs harm competitiveness. Businesses must own the problem of fraud risk, ensure compliance is relevant to all employees, and continue asking questions to effectively manage this ongoing challenge.
The document summarizes the key findings of the 2012 Startup Outlook Survey. Some of the main findings include:
- Technology startups continue to lead the economic recovery, with many exceeding revenue targets in 2011 and being optimistic about 2012.
- Startups expect to hire significantly, with software companies most optimistic. However, hiring expectations varied across sectors.
- While the US is still seen as attractive for innovation and entrepreneurship, foreign markets are seen as more appealing in areas like costs and regulations.
- Access to capital, education, IP protection, and healthcare costs were cited as top policy priorities, but progress was seen as limited or lost in some areas.
The survey found mixed perceptions among employees on the effects of Singapore's Fair Consideration Framework (FCF), which aims to increase hiring of local candidates. Some key findings:
- 70% of management consulting employees and 61% of financial services employees believe their employers are now hiring more locals due to the FCF.
- Over two-thirds of respondents expect it will be harder for foreign nationals to find roles in Singapore in the coming year.
- Perceptions on pay increases are mixed with more management consulting employees expecting rises compared to financial services.
- Views on competitiveness are also mixed but more management consulting employees believe the FCF will adversely affect Singapore's competitiveness.
Small Business Tracking Study - Healthcare Detailjgerber117
- The document summarizes findings from a study of 505 small business decision-makers across various industries in the US regarding their perceptions and concerns about healthcare.
- Most small businesses offer health insurance because they feel it is the "right thing to do" and as part of employee compensation packages. Their top concerns are rising costs and diminished value of coverage.
- Larger businesses are more likely to purchase insurance directly from companies, while smaller businesses use brokers. Growing businesses are more focused on technology and benefit needs.
- Online research and brokers are common sources of healthcare information regardless of business size. Most are satisfied managing healthcare but see the process as complex.
How world's companies act on corporate social responsibilityGrant Thornton LLP
Business as usual doesn’t cut it anymore for many companies around the world. They are becoming environmentally and socially responsible citizens, and demand the same from their vendors. Data from the Grant Thornton International Business Report reveals what’s driving this change and how it’s playing out across the globe.
Based on more than 2,500 interviews with business leaders, this infographic shows how the U.S. and 33 other countries stack up in their race for claiming responsible corporate citizenship.
See more at: http://gt-us.co/ZLFN4u
ERA 2010 Business Climate Survey Results Final 102010jagnew
A summary of responses to the 2010 Business climate survey conducted by Expense Reduction Analysts in partnership with Elite Financial Communications Group.
Authors: David F. Larcker and Brian Tayan
Stanford Closer Look Series, March 28, 2017
Long Version
Many observers consider the most important responsibility of the board of directors its responsibility to hire and fire the CEO. To this end, an interesting situation arises when a CEO resigns and the board chooses neither an internal nor external candidate, but a current board member as successor. Why would a company make such a decision? In this Closer Look, we examine this question in detail.
We ask:
• What does it say about a company’s succession plan when the board appoints a current director as CEO?
• What is the process by which the board makes this decision?
• Are directors-turned-CEO the most qualified candidates, or do they represent a stop-gap measure?
• What does the sudden nature of these transitions say about the board’s ability to monitor performance?
This survey summarizes trends in executive remuneration practices among South African companies over three years. Five key trends are identified: 1) Shareholders, especially institutional investors, have become more active in influencing executive pay; 2) Remuneration committees are engaging more with shareholders and making changes to pay programs as a result; 3) Committees continue focusing on linking pay to performance; 4) Financial metrics dominate incentive plans rather than non-financial metrics; 5) Committees now seek over 70% shareholder support for remuneration policies, seeing a 30% dissenting vote as a rejection.
This report summarizes the results of a survey conducted by Astbury Marsden to analyze employee retention in the City. The key findings include:
- Over two-thirds of respondents have been with their employer 1-3 years, while exchanges & trading platforms had both the highest proportion over 10 years and under 1 year.
- Interesting work was cited as the top factor for staying by 25% of respondents, while only 2% said feeling of security. Opportunities for career advancement and challenging work were also highly important.
- A lack of career development opportunities was viewed as the primary reason people leave employers, followed by a lack of recognition and unfair pay levels.
- Providing future opportunities within
Executives surveyed indicated that revenue growth was their top priority for the next three years as they work to recover from the economic downturn. However, they face challenges to growth including price transparency online, concerns about meeting earnings targets, and rising healthcare costs constraining hiring. While executives see opportunities in customer relationships and innovation, many noted constraints including outdated IT systems and organizational complexity. The survey found variations by region and industry in outlook and priorities. Overall, executives expressed a need to focus investments in critical areas like customer management to enable renewed revenue growth.
The document summarizes the key findings of a survey conducted by Penn Schoen Berland that polled over 25,000 individuals and 1,800 corporate executives across 25 markets globally. It finds that while corporations are generally seen as playing a positive economic role, significant work remains to be done to strengthen their reputations. Views of corporations differ based on location, with emerging markets having more positive perspectives than developed markets. The general public and corporate executives also have diverging views, especially in developed countries.
The survey found that 82% of companies expect reduced business performance in 2009 compared to 2008. Many companies plan workforce reductions, with 58% expecting cuts and 15% expecting overall reductions. While some salaries were frozen or deferred increases, only 13% actually decreased salaries. Most companies did not reduce retirement or health benefits contributions but did review costs. Top concerns for employees included anxiety about the economy and maintaining motivation.
- The document discusses findings from a SHRM survey on financial education initiatives in the workplace. It provides definitions, key findings, and data on challenges employees face, the impact on work performance, and types of financial education programs offered. The survey found that the most common challenges employees face are lack of funds, medical expenses, and saving for retirement. Personal financial issues negatively impact an employee's ability to focus and increases stress levels. While many employers offer assistance programs, fewer are providing financial education than in 2009. The top barriers to offering education are cost and lack of employee interest.
The document summarizes key findings from a 2012 survey of over 1,000 Canadian small business owners regarding employee benefits plans. It found that 63% felt an obligation to care for employees, though smaller businesses were less likely to feel this way. While 66% understood how benefits plans could help businesses, over half did not think benefits were more effective than higher wages. The top reasons for offering benefits were attracting and retaining employees (28%), keeping up with competition (17%), and ensuring employee well-being (17%). Only 35% saw benefits plans as a must-have, and just 3% cited benefits as a way to create organizational savings.
New esg disclosure burden for midsize small cap companiesdean771100
New ESG Disclosure Burden for Midsize Small-Cap Companies
Capital markets have grown increasingly complex and globalized over the years, leading to increased complexity of risk management. This has led to a growing need for enhanced disclosure by companies in order to provide investors with information that enables them to understand risks related, among other things, to environmental, social and governance factors (ESG). These new ESG disclosure obligations will carry additional burden for midsize and small-cap businesses that may lack the required resources to adequately address all of these concerns. The new ESG disclosure obligations are primarily designed to help investors better understand risks related to environmental, social and governance factors. Midsize and small-cap firms usually have a more limited budget for disclosures as compared with larger companies which can devote more resources towards this area. The new regulations could impose substantial burdens on smaller firms.
PEO clients have higher growth rates than other small businesses, with employment growth among PEO clients being 9% higher than other small businesses and 4% higher than overall US employment growth. PEOs are able to provide a broad array of HR services at a lower cost, with PEO clients enjoying estimated savings of 21% on HR administration. Using a PEO allows small business executives to focus on their core business by managing the human resources side of their business. PEOs also offer retirement plans, with 98% of PEOs offering retirement plans compared to only 16-30% of other small businesses, and higher employee participation rates in retirement plans among PEO client employees.
Despite continued uncertain economic conditions, most companies remain persuaded that there is a strong causal link between their financial performance over a 5-10 year time horizon and their current commitment to improving their environmental, social and governance performance.
Against this background, a number of business leaders are reviewing their approach to sustainability, weighing new corporate strategies and new business models in efforts to ensure their long-term sustainability.
This document discusses 9 important benefits decisions facing employers in 2016. It covers deciding whether to offer health insurance and pay penalties, managing required benefits reporting, weighing high-deductible health plans, switching to a health insurance exchange, offering voluntary benefits, providing tools to help employees choose benefits, using wellness incentives, planning spouse/partner coverage, and preparing for the upcoming Cadillac tax. The document provides context and considerations for each decision to help employers navigate an evolving benefits landscape.
CFA Institute & Edelman Investor Trust StudyEdelman
The study examines the dimensions that shape perceptions of trust in investment managers, as well as the actions that help build trust. It encompasses the opinions of institutional and retail investors in the United States, United Kingdom, Hong Kong, Canada and Australia on the state of trust in the investment management community.
Startup Outlook 2013: The Impact of the Medical Device Tax on US InnovationSilicon Valley Bank
New medical devices improve patient outcomes, reduce costs, create jobs and contribute to a healthier US economy and balance of trade. For nearly a decade, rising regulatory costs, delays and uncertainty have made it harder for medical device companies to succeed. The Medical Device Tax that went into effect on January 1, 2013 is compounding other challenges that threaten US leadership in medical device innovation. This report is based on responses from medical device startups who participated in Silicon Valley Bank’s annual Startup Outlook survey.
Chepenik Financial 3rd Quarter (2018) Plan Sponsor UpdateCourtney Gladden
This document discusses trends in 401(k) plans based on a survey. Key findings include:
- Participant contribution rates increased in 2016, with lower-paid employees contributing 6.1% and higher-paid contributing 7% on average.
- Company contribution rates have also increased steadily over time, reaching 4.8% of payroll in 2016. The majority (82%) of companies offered matching contributions.
- The most popular investment options continued to be actively managed domestic equity and target date funds, which held 22.9% and 22.2% of assets respectively.
Chepenik Financial 3rd Quarter (2018) Plan Sponsor UpdateCourtney Gladden
This document discusses trends in 401(k) plans based on a survey. Key findings include:
- Participant contribution rates increased in 2016, with lower-paid employees contributing 6.1% and higher-paid contributing 7% on average.
- Company contribution rates have also increased steadily over time, reaching 4.8% of payroll in 2016. The majority (82%) of companies offered matching contributions.
- The most popular investment options continued to be actively managed domestic equity and target date funds, which held 22.9% and 22.2% of assets respectively.
Management feels increased pressure to deliver growth in challenging market conditions. This pressure, combined with downward pressure on salaries and bonuses, increases the risk of unethical conduct like fraud. The survey found evidence that some companies are engaging in practices like overstating revenues and underreporting costs. While compliance programs have made progress, they may not be as effective as management thinks, and some employees feel such programs harm competitiveness. Businesses must own the problem of fraud risk, ensure compliance is relevant to all employees, and continue asking questions to effectively manage this ongoing challenge.
This survey summarizes workers' compensation issues for approximately 600 respondents from various industries and company sizes. It finds that the top three most effective methods for controlling workers' compensation costs are instilling a safety-minded culture, having a light duty return to work policy, and providing an overall return to work policy. Additionally, over 75% of respondents have a written safety manual, with 85% reviewing them at least every two years. Respondents' greatest insurance concerns for 2016 are cost control, increasing exposures, and risk control.
Chepenik Financial 1st Quarter (2019) Plan Sponsor UpdateCourtney Gladden
- Employees have unrealistic expectations about retirement that differ from reality, such as when they will retire and how much income they will need. This can cause difficulties in transitioning to retirement.
- There are key differences in what workers expect versus reality, such as relying more on social security than retirees do and claiming benefits earlier than maximizes payouts.
- Employers can help by communicating effectively with employees to address these perception vs reality gaps and help smooth the transition to retirement.
The insurance industry is undergoing fundamental transformation as it comes up against the impact of new regulation, new technology, accelerating shifts in consumer demand and mounting competition from digitally-enabled new entrants. In the face of so many disruptive challenges, it’s important not to lose sight of the huge opportunities they’re creating for insurers. Companies from other industries will be looking to your risk insight and expertise to help them navigate an increasingly complex and uncertain business and geopolitical landscape. You’re also in the pole position to capitalise on the new generation of analytics, sensor connectivity, and machine learning technologies that are set to revolutionise our lives. To make the most of these opportunities, it’s important to look beyond the traditional boundaries of the insurance business to embrace new ways of working, new ways of interacting with customers, and whole new possibilities in what your business can deliver.
By David F. Larcker, Brian Tayan, Vinay Trivedi and Owen Wurzbacher, CGRI Survey Series. Corporate Governance Research Initiative, Stanford Rock Center for Corporate Governance, July 2019
In spring 2019, the Rock Center for Corporate Governance at Stanford University surveyed 209 CEOs and CFOs of companies included in the S&P 1500 Index to understand the role that stakeholder interests play in long-term corporate planning.
Key Findings
• CEOs Are Divided On Whether Stakeholder Initiatives Are A Cost or Benefit to the Company
• Companies Tout Their Efforts But Believe the Public Doesn’t Understand Them
• Blackrock Advocates … But Has Little Impact
The Affordable Care Act has brought changes that businesses can’t ignore.
Aflac surveyed 314 brokers, 5,209 American workers and 1,856 business decision-makers to determine the impact health care reform is having on brokers’ business models and employers’ benefit offerings.
The results show the growing importance of voluntary insurance benefits.
The document is a survey report from Willis that summarizes the results of their 2015 Benefits Benchmarking Survey. Some key findings include:
- PPO/POS plans are offered by 87% of employers and are the most prevalent plan type. HSA-eligible CDHPs are the second most offered at 47%.
- On average, employers offer 3 or fewer medical plan options. The majority (85%) of employers offer 3 plans or fewer.
- Regionally, HMO/EPO plans are significantly more prevalent in the West, offered by 51% of employers in that region compared to 13-42% elsewhere.
1) The document discusses entrepreneurship among Nigerian youth and identifies several barriers they face in starting businesses, including a lack of access to financing, skills, and information about government support programs.
2) It finds that while many Nigerian youth believe they have the skills to be entrepreneurs, few actually start businesses due to obstacles they encounter. It also reports that most young entrepreneurs struggle with high competition and low sales.
3) The document recommends that the Nigerian government improve awareness of its small business support programs, ensure the programs meet the needs of youth, and encourage greater financing of small businesses by the formal financial sector.
Many employees lack basic financial literacy skills, which leads to financial stress. This negatively impacts employee productivity and employer bottom lines. Statistics show that many employees do not budget properly, save little money, and struggle to pay bills and credit cards. As a result, over a third of employees spend some work time dealing with personal finances. Employers can help by providing financial wellness education and benefits to build a more financially secure workforce. This improves employees' financial health and reduces absenteeism and turnover, benefiting employers.
Michael Page - Global Employment Trends - Financial Sector 2013Raquel Kroich
3.800 profissionais do Mercado Financeiro foram entrevistados em Março de 2013. Participaram executivos de 47 países, nas Américas, Europa, Oriente Médio, África e Ásia-Pacífico.
O objetivo da pesquisa é entender como os últimos anos em ambiente de crise impactaram o dia-a-dia dos profissionais do mercado financeiro em termos de motivação, salário, pagamento de bônus, oportunidades e carreira, bem como entender como os profissionais avaliam a atual situação e o futuro do mercado financeiro em todo o mundo.
Publicado em junho/2013
Employers are increasingly offering improved benefits like flexible working arrangements, career development opportunities, and health care benefits to retain valuable employees, as retaining current staff is more efficient than hiring replacements. A survey found that over a third of employers had difficulty retaining skilled workers, and nearly one in five changed their benefits plans in the past year, most commonly improving health care benefits. Career development and flexible working arrangements were seen as particularly important for retaining millennial and highly skilled employees.
Midsize businesses face unique challenges recovering from the COVID-19 pandemic that could impact their long-term success. While many have effectively adapted operations and processes, areas like skills development, technology adoption, and workforce strategies require ongoing focus. Specifically, less than 40% of respondents said they invest in reskilling programs critical for future growth. To stay competitive, midsize companies will need to accelerate digital investments and prioritize employee development while ensuring equitable support for all workers.
The survey received over 670 responses from large companies and SMEs in Malaysia on the impact of COVID-19. The key findings were:
1. Nearly half of respondents cited a fall in demand as their top customer challenge.
2. A third of large companies faced disruptions to operations, while over 30% of SMEs experienced delays to tasks and projects.
3. Most companies need improved connectivity and financial support for technology upgrades, as well as relief from loan/tax obligations to improve cash flow.
This captures the impact of the COVID-19 pandemic on SMB business operations, their financial performance, the actions that they have taken to mitigate the impact of the pandemic. This report was conducted from May 28-31, 2020, and captures the views of more than 30,000 business owners, managers & employees worldwide. The survey aims to provide a point-in-time snapshot of the online SMB sector – more specifically, those with Facebook Business Pages – in 50 countries. NOTE It is not designed to reflect the entire business population of a given country or region.
Facebook Group, IBRD World Bank, OECD
The survey found that over 60% of Maryland biotech companies grew their workforce in 2012, with over 35% growing by more than 10%. For 2013, companies expect the greatest growth in hiring experienced individuals and entry-level college graduates. The top resources for hiring technical employees were LinkedIn, employee referrals, and online job posts. To improve the workforce, companies ranked improved skills training programs as the top priority. The majority found the MD workforce qualified but not always available.
Similar to Small Business - What's on Their Minds (20)
1. SMALL BUSINESS EMPLOYERS:
What’s On Their Minds
T
here is no question that virtually all
businesses of all sizes in all industries
have struggled in recent years as a result
of the economic downturn. However,
overall, small businesses have tended to struggle
the most, for a number of reasons.
One is that, while large numbers of customers
have been delinquent or even defaulted in making
payments to businesses for their products and
services, such activity hurts small businesses
more, because these businesses are less able to
absorb these losses as a result of their size and
their tight margins.
Another is the continuing introduction of new
and revised government regulations. Again, while
these pose a challenge to all businesses, they
pose unique challenges to small businesses, which
rarely have the manpower and the expertise to
stay abreast of all of the requirements associated
with these regulations, as well as, of course, the
money required to come into compliance with
these regulations.
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2. Yet another major challenge for small businesses
is the costs associated with the Affordable Care
Act, accompanied by the many still unanswered
questions as to how the whole program will
“play out.”
In June 2014, LegalShield published the “Small
Business Survey 2014,” which looked at the current
“pulse” of small businesses (defined as businesses
with 1 to 250 employees), and the perspectives
of small business owners. The survey provides an
overview of the perspectives of small business
owners as they relate to challenges, risks, keys
to success, and planned actions. This survey is a
follow-up to a similar 2013 LegalShield survey.
Overall, the survey found, small business owners
are slightly more optimistic about the economy
this year than they were last year. While
46 percent of respondents last year reported
that their “economic expectations for the next
twelve months” were either “very strong” or
“somewhat strong,” 53 percent reported similar
expectations this year. Why the slight increase?
“The big story is that the U.S. economy continues
to be ‘in a recession’ as far as most businesses
are concerned,” said Jerry Thomas, president
and CEO of Decision Analyst, the firm that
conducted the surveys for LegalShield. “There
is a very slight improvement from 2013 to 2014,
but that might be because some marginal
small businesses went out of business, rather
than the economy improving. However, it is
fair to say that there appears to be a slightly
stronger economy, but still very low growth.”
What Worries Small
Business Owners?
What do small business owners consider
their greatest risks? The survey found that
their number one concern was the weak U.S.
economy (48%). “There is so much ‘noise’
and uncertainty in the economic system that
small business owners are finding it difficult
to be optimistic in this environment,” said Bill
Dunkelberg, chief economist for the National
Federation of Independent Business.
Owners were also concerned about challenges
associated with customers and competition,
with 32 percent expressing concerns about the
difficulties associated with finding new customers,
27 percent concerned about customers who
don’t pay their bills, 23 percent concerned
about excessive competition, and 20 percent
concerned about the high cost of advertising.
Governmental requirements were also on
their minds, with 27 percent of respondents
expressing concerns over governmental rules
and regulations, and 26 percent expressing
concerns about the cost of health insurance.
Small business owners were also concerned
about the personal side of business and the
toll that owning businesses took on them,
such as having to work long hours (20%),
the shortage of qualified employees (19%),
and being tied down to their businesses with
very little vacation or free time (18%).
What Business
Owners Plan to Do
How do small business owners plan to respond
to these risks and subsequent concerns? The
survey found that, while owners are concerned,
they are also courageous and optimistic. For
example, business expansion strategies are of
great interest to them, with 37 percent of them
planning to use more social media in sales
and marketing efforts, 36 percent planning to
purchase new equipment, 29 percent planning
to expand services or introduce new products,
23 percent planning to increase the number
of sales calls, 22 percent planning to increase
marketing expenditures, and 18 percent planning
to attend more trade shows or conferences.
Business owners also emphasized that employees
are important to their future success, with
19 percent planning to improve employee
training, 19 percent planning to increase the
number of employees, and 17 percent planning
to increase employees’ salaries or offer raises.
Thirty-one percent of small business owners
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3. said that they planned to pay off debt.
Finding the Money to Grow
Of course, implementing growth plans require
capital, and small business owners have a number
of options available, some of more interest than
others.
In large part, small business owners like to rely on
themselves as much as possible, with 46 percent
of them reporting that they plan to use personal
savings or money, and 37 percent reporting that
they plan to use past profits or retained earnings.
Credit cards, loans, and lines of credit also play
into the mix, with 33 percent planning to use
their business credit cards, 22 percent planning
to use their personal credit cards, 22 percent
planning to use lines of bank credit, 18 percent
planning to rely on bank loans, seven percent
planning to utilize lines of credit from credit
unions, and seven percent planning to take
advantage of Small Business Administration
(SBA) or other government loans.
Friends and family can also plan a role,
although much less so, with 9% stating
that they plan to utilize investment money
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EMPLOYEE
BENEFITS/
PROGRAMS
BEING OFFERED
What are the most popular
benefits and related programs that
small business employers offer?
Exactly two-thirds (66.6%) of
small business employers offer
sick leave/paid vacation, and
59.6% of employees utilize these.
And 87.8% of employers fully
pay these, while 8.5% arrange for
employees to partially pay for
them.
Almost two-thirds (64.9%) of small
business employers offer medical
health insurance, and 51.9% of
their employees participate. And
21.6% of employers pay the full
amount, while 70.3% arrange for
employees to partially pay.
Just over 60% (60.6%) of small
business employers offer 401(k) or
other retirement plans, and 51.2%
of employees participate. And
14.8% of employers pay the full
amount, while 64.8% arrange for
employees to partially pay.
Just over 50% (51.9%) of small
business employers offer
dental insurance, and 40.3% of
employees participate. And 20.2%
of employers pay the full amount,
while 62.1% arrange for employees
to partially pay.
Just over 45% (45.8%) of
small business employers offer
life insurance, and 34.9% of
employees participate. And 45.5%
of employers pay the full amount,
while 39.9% arrange for employees
to partially pay.
Just over 30% (30.7%) of small
business employers offer short-
term disability insurance, and
17.9% of employees participate.
And 37.9% of employers pay the
full amount, while 33.8% arrange
for employees to partially pay.
Almost 30% (28.3%) of small
business employers offer long-
term disability insurance, and 15.1%
of employees participate. And
41.3% of employers pay the full
amount, while 32.9% arrange for
the employees to partially pay.
Almost 25% (24.5%) of small
business employers offer
maternity/paternity leave, and 2%
of employees participate. And
50% of employers pay the full
amount, while 29% arrange for the
employees to partially pay.
Almost 25% (24%) of small
business employers offer
accidental death insurance, and
3.9% of employees participate.
And 46.9% of employers pay the
full amount, while 35% arrange for
the employees to partially pay.
Almost 20% (19.7%) of small
business employers offer “comp
time,” and 3% of employees
participate. And 81.9% of
employers pay the full amount,
while 9.5% arrange for the
employees to partially pay.
SOURCES:
Small Business Survey 2014. LegalShield
and Decision Analyst. (June 2014).
Small Business Employee Benefits
Analysis. LegalShield and Decision Analyst.
(July 2014).
4. from family or friends, and 7% planning
to utilize loans from family or friends.
What It Takes to Succeed
Of course, once business owners identify the
risks and challenges they face, how they plan
to address these, and how they plan to fund
their efforts, the next question is how they plan
to ensure that their efforts will be successful.
Overall, small business owners were quite clear
in the survey that they rely on themselves much
more than they rely on employees to ensure that
their businesses continue to remain successful.
In fact, nine of the top ten keys they listed had
nothing, or very little, to do with employees.
As far as small business owners are concerned,
the most important strategy for success is
providing great customer service (71%); followed
by integrity, honesty and truthfulness (67%); self-
discipline and self-motivation (62%); working hard
and working long hours (52%); being thrifty and
saving money (39%); offering a unique product or
service (39%); having adequate savings or financial
resources (35%); caring about others and being
unselfish (32%); and focusing on strategy (31%).
Fifty-five percent stated that hiring good
employees was important to their success.
This isn’t surprising, according to Thomas. “The
owner is generally the key to a small business’s
success,” he said. “Small businesses typically
cannot attract top-quality employees, because
their pay scales are far below those in large
corporations. As a result, small business owners do
rely more on themselves than on their employees.”
How Employees Are Feeling
While small business owners made it clear that
they rely primarily on themselves to ensure
their success in business, all of them, with the
exceptions of “one-person shops” and family-only
owned and run businesses, have to hire and rely
on employees to keep their businesses running.
In addition to publishing the “Small Business
Survey 2014,” LegalShield also published the
“Small Business Employee Benefits Analysis,”
which provides insights into small business
employee job satisfaction levels and their
perspectives on benefits packages.
When asked how small business employers
could improve job satisfaction, 57 percent of
employees said “better pay, more raises, more
money.” Tied for second were “better or more
benefits” (14%) and “more personal time off
and vacation” (14%), followed by “flextime
and/or more flexible work hours” (7%).
As the survey highlights, pay is the primary
concern of employees working in small businesses.
“These percentages are not surprising in light
of declining U.S. household incomes among the
majority of the population,” said Thomas. “I don’t
think you could conclude from these numbers
that money is the most important aspect of their
jobs. However, it is uppermost in their minds
right now because of economic distress.”
So how do benefits fit in? As noted, they are
tied for the second most important element
of improved job satisfaction mentioned by
employees. The Sidebar (below) identifies
the most popular benefits that small business
employers offer, as well as how popular these
benefits are with the employees themselves.
(855) 572-7653
legalshield.com
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