Thursday, October 28, 2010

Factoids from the Workplace

An assortment of United States coins, includin...Image via Wikipedia
My finance background has always enabled me to relate to numbers.  I found the following "By The Numbers" interesting and thought I would share them with you.  There are some interesting observations.

75% of candidates who have had five or more interviews per month since the beginning of their job search who have not received a single offer, based on a survey of 79,000 active job seekers.  Talent Drive

72% of workers in small companies are not covered by retirement plans   Small Business Administration

59% of Americans who expect to receive a pension upon retirement.  But only 42 percent can identify a pension to which they are entitled.  Consumer Report

49% of employers who expect workers to check in with the office while they are on vacation.

42% of employers in 2010 who believe that the recession has increased the quantity and quality of candidates they recruit.  Talent Drive.

 What interesting numbers have you come across?

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Thursday, October 7, 2010

Small Business Job Act and Unintended Consequences

office of Jacob Fugger; with his main-accounta...Image via Wikipedia
2010 is becoming the year of major tax law changes with President Obama's signing of the Small Business Jobs Bill into law.   I do not know how the average small business is suppose to know what to expect with regards to taxation when the tax law frequently changes.  The challenge is that most small businesses will have to consult with a tax accountant to understand all the changes and the impact to their cash flow.

Thus, the rub.  Most small businesses do not have the budget for a full-time accountant and many are struggling just to keep their doors open. What lawmakers fail to realize is that when they make tax law changes, small businesses inevitably incur more costs because they will have to hire someone to explain how those changes impact the business. Those costs reduce the funds available to expand the business.

While the changes may be based on good intentions, the fact of the matter is that businesses thrive on predictability so they can do planning.  Changing laws constantly does not necessarily help small businesses.  It often leads to uncertainty and uncertainty leads to caution which means that nothing major will happen.  Along with many of the Bush Administration tax cuts likely to expire, and lack of understanding the consequences of implementing health care reform, uncertainty seems inevitable.This hurts investment and hiring and make it more challenging to get our economy on track.
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