Express Employment Professionals, a staffing company in the U.S., Canada and South Africa, has compiled data identifying top threats that endanger businesses profitability and productivity.
“We are excited about sharing this information and helping businesses prepare for how these threats can affect them,” said Connie Druliner, owner of Bend Express Employment Professionals.
According to Express, the most immediate threats are the inability to innovate, losing a competitive advantage, the high cost of reckless hiring, poor leadership and communication, and regulatory nightmares.
“The shift in employment caused by the Great Recession has led to a shortage of talented employees,” Druliner said. “Since the economy has started to improve, workers have been looking for better opportunities.”
According to the Bureau of Labor Statistics, 54 percent of companies have reported loosing talent during the first half of 2010.
The data compiled also suggests companies are starting to feel the pressure of the inability to innovate without high quality workers. According to a study by the Aberdeen Group, 83 percent of companies surveyed claimed “shortage of talent” as the No. 1 issue their company faced in 2011.
A company’s talent shortage has also been associated with disengagement among employees. Of the more than 13 million employees surveyed by Gallup, 71 percent of employees in most companies are not engaged at work, costing businesses $328 billion every year.
“To maintain a competitive advantage, companies need to focus on retention, engagement and leadership,” Druliner said.
Among the other threats, changing laws and regulations in employment has slowed companies’ productivity as well. According to the Small Business Administration, regulatory agencies enact more than 3,500 new regulations in an average year, and in 2010, 224 major rules were added.
“The federal government estimates that misclassification of employees as independent contractors will cost the Treasury Department more than $7 billion in lost payroll tax revenues during the next 10 years,” according to Michael Royal, a partner and employment law specialist at Fisher & Phillips. Due to a misunderstanding of employment law, companies are putting themselves at risk of being targeted by the IRS.
“We have a dedicated and experienced staff to help navigate through these threats and set businesses up to be innovative and competitive in their respected markets,” Druliner said.
The Bend Express Employment Professionals franchise began operation in 1983 and serves the Central Oregon areas with temporary help and direct hire employees in a variety of fields, including administrative, commercial, data processing, technical, sales, marketing and more.
Worldwide, Express Employment Professionals put 335,000 people to work in 2011 and has more than 550 offices in three countries. Express provides expertise in evaluation hire, temporary staffing, professional search and human resources and works across a wide variety of industries. Temporary sales for the international staffing franchise company totaled more than $2.1 billion in 2011.
541-389-1505 or www.expresspros.com.
