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SBANE & Insight Performance Inc. HR & Business Climate Survey Results Are In

Insight Performance Inc. conducted a Human Resources Program & Business Climate survey, forecasting the business trends for 2014. Respondents were smaller companies located in the New England area and 89% of those respondents have 1 to 100  full time employees. Companies based their 2014 predictions by evaluating their, at the time, current 2013 profits, business conditions, hiring numbers, and employee benefits/programs.  The results are in, and it looks like New England smaller businesses are positive about what 2014 will bring. CEO of Insight Performance, Nancy Mobley, stated, “The key take away from the survey is ‘business is good’… 2014 looks to be the year of doing more with less. As evidenced by the HR Programs & Business Climate survey, businesses will likely invest in what they already have rather than increasing headcount as their top priority. We will see more businesses finding ways to be creative with their existing staff, rethinking job positions and reorganizing strategically. We are seeing significant investments being made in leadership development, managerial training and coaching, for example, to ensure that employees are engaged, motivated and ready to accept new challenges.” The industries surveyed were as follows:
  • Biotech/Pharmaceutical/Life Science (6%)
  • Financial Services/Bank/Venture Capital (11%)
  • High-Tech/Computers/Software (20%)
  • Manufacturing (26%)
  • Healthcare (3%)
  • Automotive (0%)
  • Real Estate (0%)
  • Non-Profit (14%)
  • Professional Services (20%)
78% of respondents expect 2014 to be even better than 2013; the positive trend in the business outlook directly correlates to:
  • 64% planning company events such as holiday parties
  • 62% of companies hiring new employees in 2013
  • 62% expecting to maintain or enhance benefits in 2014
  • 50% planning for merit-based pay increases
  • 45% planning to implement a bonus or incentive pay program
In terms of a base pay increase 60% of respondents plan a 0-3% increase, 27% plan a 3.1% - 4% increase, and the remaining plan an increase over 4.1%   For the full results of the Human Resources Program & Business Climate survey results and the Business Trends Summary report, click below: 2013 Small Business and HR Outlook Survey Results - FINAL (2) 2014 Trends Survey Summary (3)   About Insight Performance Founded in 1995, Insight Performance, Inc. is a strategic human resources consulting firm that works with small and mid-sized companies to build exceptional workplaces. The firm, with offices in Dedham and Salem, Massachusetts, provides proven and cost-effective HR solutions to help companies, in a wide range of industries, solve real-world problems, and achieve their business goals. Insight Performance has been named a “Best Place to Work in Massachusetts,” the national recipient of Employer of the Year and Best Overall Company of the Year for Service Businesses (under 100 employees), and was a national finalist for Best Human Resources Organization. Additional information can be found at www.insightperformance.com.   For more information contact: Monica Ataie Member Relations Coordinator monica@sbane.org
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