Today’s entrepreneurs are driving global job creation a survey finds, rather than the large corporates of days gone by.
As part of EY’s questioning of its 250 World Entrepreneur of the Year finalists (since 2000), business builders have revealed a strong desire to increase the amount of staff hired.
Some 76 per cent of those surveyed expect to increase the size of their team in the coming year, and by an average amount of 19 per cent.
This compares a lot more favourably than when larger corporates were asked the same question. There, only 31 per cent of CEOs intent to hire in the same period.
EY also finds that the greatest proportion of hires made during 2013 were for entry-level positions. It says that fewer ‘experienced non-management’ were hired in 2013 than 2011 or 2012, with those simply requiring a degree or advanced degree on the up.
More on recent hiring research:
- UK start-ups finding it hard to secure the right hires
- UK schooling not providing skills for business future
Maria Pinelli, global vice chair, strategic growth markets at EY, comments, ‘Entrepreneurs have a key role to play in driving global economic growth and job creation thanks to their dynamism, nimbleness and ability to spot opportunities for growth.
‘This survey shows they’re living up to expectations. Not only do seven in ten entrepreneurs plan to hire, but many say they will do so abroad in order to grow their markets, showing the global mindset of an entrepreneur.’
On the international hiring front, entrepreneurs in EMEIA (Europe, Middle East, India and Africa) are most confident and most likely to hire from abroad.
There, 63 per cent are confident, very or extremely confident – with 65 per cent stating that hiring will be fuelled by overseas candidates. This compares with 53 per cent in the Americas, 33 per cent in Asia-Pacific and 52 per cent globally.
‘As the global economic recovery takes hold, entrepreneurs from all regions are looking to hire,’ Pinelli adds.
‘In EMEIA there appears a real appetite to tap into skills available overseas, perhaps in response to skills shortages at home. This and the ease of hiring globally is something for governments in the region to consider if they are to stay ahead of the global race for talent.’