Treps keep driving the job creation engine
No matter the global business climate, treps are generating jobs and raising living standards where they operate.
Going for growth
Entrepreneurs are confident about the future as they expand their talent base. They are unfazed by economic uncertainty. And it's this attitude that positions treps as a solid source of new jobs. Our latest survey on Global job creation finds treps around the world continuing to hire, not only to support their entry into new markets but to meet stepped-up demand for goods and services.
Treps expand their horizons
Treps have always been innovators. Now they are stretching their business talents across borders, seeking to compete on a global landscape. Our latest numbers showed that 47% of respondents plan to hire abroad, up from 44% in 2012. The domestic job picture is promising, too. In our survey, 70% told us that they expect to build up the number of in-country hires in 2013. Women are out-hiring the men in their domestic markets in order to boost production. And wherever treps have a positive impact on jobs, they help raise the standard of living.
2013 could be the year that that productivity takes center stage. When our survey asked treps to describe the employees they hire, 51% of overall respondents told us they looked for people seasoned in specific skills, industries or products. (Those with management backgrounds came in at 31%). This suggests that treps see growing markets for their goods and services. So they're increasingly tapping the talent pool to help boost production.
Global growth, rising
Once again treps have their fingers on the pulse of business. They've been upbeat through the recent downturn. Now news reports indicate that the economy has indeed turned a corner. And another EY report, the Global Capital Confidence Barometer tracks the Fortune 1000 and found that in April, while the majority of the Fortune 1000 intend to keep their current workforce size, 42% expect to hire.
We will continue our outreach to the top entrepreneurs to check on their job creation prospects over the next six months.