The state of small businesses in 2025   By definition, a small business has less than 500 employees and annual revenue less than $7.5 million. Businesses that fall under this category account for 61.7 million employees, or 46.4% of the private sector workforce.   A DEEPER DIVE   According to the Pew Research Center, among the approximately 6 million small businesses with employees, 49% have just one to four workers. Broken down further, about a quarter (27%) have between five and 19 employees; 8% have 20 to 99; and just 1% have 100 to 499 workers. The remaining 14% had paid employees at some point...

THE WINTER OF OUR DISCONTENT   Although we are less than a month from the end of winter, economic and social indicators suggest that we may be entering the Winter of Our Discontent. It wasn’t that long ago that unemployment was so low that employees were considered to be in the driver’s seat. Now, however, it appears that the screw has turned, and employees see their situations as worsening in the immediate future.   Ben Wigert and Corey Tatel, writing in Workplace, discuss the findings of a recent Gallup Poll. American employees are feeling increasingly detached from their jobs. As a result, the rate...

DOGE AND YOUR BUSINESS As of November 2024, the federal workforce in the United States was just over 3 million people. With all the talk about an out-of-control federal workforce, it is interesting to note that the federal government (excluding the Postal Service) accounts for 1.5% of total civilian employment, a share that – except for a temporary bump in mid-2020 for the decennial census – has been largely constant for more than a decade. The federal government is the single largest employer in the U.S. As such, it employs 12% of all government employees. State-level government employees make up 24%, while...

Industry 4.0 and Your Workers Ready or not, we are now deep into the beginning of the 4th Industrial Revolution, often referred to as Industry 4.0, or 4IR. On the heals of the recent World Economic Forum, Charlotte Edmond, Senior Writer for Forum Agenda, provides the following definition of Industry 4.0   WHAT IS INDUSTRY 4.0   "The Fourth Industrial Revolution, Industry 4.0, or 4IR as it is variously called, is the next phase in manufacturing. It will be characterized by smart technologies and automation, which allow manufacturers to produce goods more efficiently, quickly, cheaply and/or sustainably. It will be a step-change in the digital...

When to Hire In House and When to Not According to a recent article in Inc. by Sarahd Lynch, one of the leading workplace trends for 2025 will be a greater emphasis on hiring from within. Even though the 2024 labor market is cooling, job openings are slowing in some sectors, and with a decrease in quit rates, some companies find themselves in an unusual position.   Labor Hoarding   With the anticipation of a recession, many companies engaged in “labor hoarding” rather than hiring new employees. One of the results of this strategy is that many companies have an ample, experienced labor force...