Small business bosses are almost five times more likely to be taking on new employees in the next quarter than larger business, according to figures released by the CIPD.
The proportion of smaller employers who expect to increase staff levels over those who expect to decrease staff levels in the second quarter of 2014 is +52, compared with +11 for large employers.
Although seen as a positive result for SMEs, the CIPD warn that growth must not be prioritised over maintaining company culture and sticking to a clear set of values.
Other new figures released today at the CIPD’s annual HR in SMEs conference in London show that having a clear purpose and values is key to the success of SMEs. 77% of small business decision makers agreed with this statement.
Dr Jill Miller, researcher at CIPD, said:
“We know that having a clearly articulated purpose and values is vital for business success, and our research among SMEs shows that they wholeheartedly agree. However, there is a danger that if these values are not a living part of daily operations, they can become diluted or even disappear as the business changes and the workforce grows.
“Both internal and external events can derail your culture, so when implementing change it is important to think carefully about how that change can be used as an opportunity to reinforce your values, rather than undermine them.”
CIPD have published a guide entitled “Keeping culture, purpose and values at the heart of your SME” to help small business owners achieve these goals.
Photo by Rasmus Andersson