New SCORE Infographic: Small Business Jobs Statistics
SCORE, a nonprofit association supported by the SBA and dedicated to helping small businesses get off the ground, grow and achieve their goals through education and mentorship, has compiled a new Infographic Small Business Jobs Statistics – reflecting the latest stats concerning trends in small business hiring, employment and human resource management to gain a clearer sense of how entrepreneurs are adding to American employment and how human resource concerns affect their companies.
Small Business Jobs Statistics
This SCORE Small Business Jobs Statistics infographic – shows the stats on how many jobs are created by small vs. large company employers, the costs and reasons for employment attrition and how much time and effort small business owners spend on human resource management.
According to SCORE’s latest small business jobs statistics half of all workers in the American are employed at small businesses?
- From mid-2009 to 2012 small businesses created over 62% of new jobs.
- From 2004 to 2010, micro-small businesses (1 to 4 employees) were the big employers adding 5.5M new jobs, whereas businesses w/ 500 or more employees lost 1.8M jobs.
- Over the next five years, 37% of small businesses will have 5+ employees
Small business jobs statistics success is linked to employee success.
- 75-150% of salary is the estimated cost of employee turnover
- 30% of small business failures are blamed on poor hiring decisions
- However, employees cost time & money.
- HR work consumes 25-35% of an owner’s time. 7-25% of time is spent handling employee paperwork
- Companies with fewer than 20 employees have 60% higher compliance costs.
Recruitment & management are going mobile, revealed by small business jobs statistics.
- 1.3 billion employees will work virtually by 2015.
- Mobile friendly recruitment, properly executed, has a conversion rate 5x to 10x better than PC – at 20% the cost.
Since 1964, SCORE has helped more than 10 million aspiring entrepreneurs. Each year, SCORE provides small business mentoring, workshops and education to more than 375,000 new and growing small businesses. More than 11,000 business experts volunteer as mentors in over 320 chapters serving local communities with entrepreneur education.