No surprise here - In 2008, Small to Medium Businesses (SMBs) increased hiring, decreased salaries, and stepped-up their use of independent contractors and business financial consultants according to SurePayroll's Business Scorecard as reported in this ARTICLE: eweek.com
All these stats do is validate what we have all expected. The SMBs are and will continue to grow, so they are hiring more. And, since unemployment is so high, SMBs are paying less for the same or better talent.
The most interesting development in the SMB market is the increase in utilization of independent contracts, up 8.3% in 2008 to its highest level since 2004. Not only are SMBs trying to save money and avoid a full-time commitment, but the softening labor market has also encouraged the workforce to be more creative with the structure of their employment relationship. In short, many in the workforce are taking part-time CFO work as contractors to at least have some income.
The reality is this - SMBs are going to drive us out of this recession, and the smart ones are gobbling up the talent and saving money along the way!




