Nearly 55 percent of Michigan business executives say they intend to increase their staff levels this year, according to the latest National Business Trends Survey. On a national level, 47 percent of employers expect staffing increases in 2014.
Most Michigan executives plan to hire within the first half of the year, noting challenges for their businesses include the ability to pay for benefits and finding enough skilled and professional/technical workers, the survey says.
When asked about their overall outlook for the 2014 economy, nearly 90 percent of the Michigan executives surveyed expect the overall economic outlook to be about the same or better compared to 2013. This optimism continues as 70 percent of Michigan business executives expect increases in their own sales/revenue in 2014.
In regards to training, 43 percent of Michigan executives who responded say they will increase training budgets this year, up from 25 percent in 2013. Only 5 percent say they will decrease their training budget.
“Each day employers throughout the U.S. are faced with challenges moving their business forward,” says Susan Fronk of the Employers Associations of America, which released the report. “The (survey) allows executives to make data-driven decisions and provides detailed information on how other executives plan to approach their business in 2014.”
To read the full report, click here.