Aggregate Job Growth Improves 20 Percent for Small Businesses in 2011
TriNet’s monthly SMBeat showcases thriving job creation despite global economic turmoil.
SAN LEANDRO, Calif. (January 10, 2012) – Encouraging employment statistics for the month of December helped closed out 2011 on a positive note. Though hiring dropped slightly, to 2.59 percent, turnover reached a new low of 1.01 percent, resulting in another month-to-month net increase of 1.58% for jobs tracked by TriNet’s SMBeat. In fact, every month in 2011 saw net job increases for a cumulative aggregate of a 20% improvement for the year.
“According to the recent report from the National Federation of Independent Businesses, most small businesses in America did next to no hiring and actually shed jobs in December,” said Jimmy Franzone, TriNet’s vice president of corporate development. “In contrast, TriNet SMBeat tracked companies were actively hiring last month and building their workforce. Throughout 2011, not only did our member companies weather the global economic turmoil better than the rest of the economy, but also thrived and created new jobs.”
- Monthly Hiring slowed to 2.59 percent, essentially flat with 2010 year-end.
- Monthly Turnover decreased again in terms of both voluntary and involuntary terminations for an aggregate low of 1.01 percent. Involuntary terminations finished at 0.33 percent, down 10 percent for the month and 24 percent for the year. Voluntary terminations closed at 0.68 percent, down roughly 15 percent both for the month and year.
- Average Annual Compensation decreased slightly by 0.42 percent year-over-year to $108,326.
The complete report is available here.
About SMBeatSMBeat provides a detailed analysis and a predictive forecast for trends in key human capital economic indicators for small businesses. TriNet generates the payroll information by tracking real-time movements within its base of approximately 3,000 entrepreneurial businesses, with between 10 and 150 employees, and earning approximately $100,000 in annual base salary. These companies fall primarily into three broad industry segments: technology, professional services, and financial services. SMBeat aggregates and reports data reflecting compensation, hiring and retention (both involuntary terminations and voluntary resignations), and also provides ongoing analysis of contributing factors to these trends, including regional, industry and seasonal variables. Additional details can be found on the company’s SMBeat web page http://www.trinet.com/smbeat.
About TriNetTriNet is a trusted partner to small businesses, providing critical HR-related services on an outsourced basis. TriNet’s solutions help contain costs, minimize employer-related risks and relieve administrative burden to keep an entrepreneur’s focus on core business functions. From employee benefits service and payroll processing to high-level human capital consulting, TriNet's PEO expertise is integrated with every facet of a client’s business. TriNet specializes in serving fast-moving companies in fields such as technology and financial services, who recognize that top-quality employees are the most critical competitive asset. For more information, please visit http://www.trinet.com.
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