During National Small Business Week, the UKG Workforce Institute released a study shedding light on employed Americans’ preferences and perceptions regarding small and large businesses.
- Preference for Small Businesses:
- Despite comparable compensation and benefits, 74% of employed Americans express a preference for smaller businesses over larger ones.
- The allure of smaller businesses lies in their ability to cultivate a family-like workplace culture, offering a more personalized experience for employees.
- Challenges Faced by Small Businesses:
- While smaller businesses are favored for workplace culture, they encounter perceptions regarding payroll accuracy, onboarding, and other HR functions.
- Only a quarter of employed Americans believe payroll accuracy is better at smaller businesses, reflecting a perception gap that small businesses must address.
- Areas of Success for Small Businesses:
- Despite challenges, smaller businesses excel in various aspects, including job satisfaction, communication, and schedule flexibility.
- Employed Americans recognize the superior overall job satisfaction, transparent communication, and schedule flexibility offered by smaller businesses.
- Quality of Managers:
- Notably, 36% of employed Americans perceive the quality of managers to be better at smaller businesses, highlighting the pivotal role of leadership in talent retention.
- Effective leadership fosters employee motivation and engagement, crucial for small businesses aiming to attract and retain top talent.
- Addressing Perception Gaps:
- Small businesses can leverage all-in-one HR and payroll solutions to bridge perception gaps and enhance employee experiences.
- By investing in automated and intuitive HR solutions, small businesses can streamline operations and remain competitive with larger counterparts.
- Competitive Advantage in Hiring:
- Over half of employed Americans believe that people tend to prioritize smaller businesses when starting their job searches, presenting an opportunity for small businesses to attract top talent.
- Automated HR solutions empower lean teams to scale efficiently while focusing on delivering exceptional goods and services to local communities.
The study by the UKG Workforce Institute underscores the enduring appeal of small businesses and the importance of addressing perception gaps to leverage their unique advantages. By prioritizing workplace culture, effective communication, and leadership development, small businesses can position themselves as preferred employers, driving success in an increasingly competitive landscape.
Business Wire, a Berkshire Hathaway company, is the global leader in press release distribution and regulatory disclosure. Public relations, investor relations, public policy and marketing professionals rely on Business Wire for secure and accurate distribution of market-moving news and multimedia. Founded in 1961, Business Wire is a trusted source for news organizations, journalists, investment professionals and regulatory authorities, delivering news directly into editorial systems and leading online news sources via its multi-patented NX network. Business Wire’s global newsrooms are available to meet the needs of communications professionals and news media worldwide.
