Renewed confidence leads to SMEs going on hiring spree

While the number of small and medium enterprises in the UK is growing, existing SMEs are also much more confident about their future and are planning to go on a hiring spree, a new report by the Federation Of Small Businesses has revealed.

The FSB’s Small Business Confidence Index has grown from -5.6 in the fourth quarter of 2012 to 21.6 in 2013, the report revealing that this higher level of confidence is “replicated in every region of the UK and in each business sector”.

Additionally, new statistics by the National Association for Commercial Finance Brokers (NACFB) also reveals that the number of UK small and medium sized businesses have soared to a six-year high of 2.16million, with professional, scientific and technical industries recording the most impressive hikes.

Adam Tyler, chief executive of the NACFB, said: “SMEs are the stalwarts of the economic recovery, they have played a vital role in brightening our future prospects.”

Figures from the FSB paper also revealed that more small firms are expected to see rapid or moderate expansion in the next 12 months, with a third running at full capacity. Plus, close to 25% of companies participating in the poll suggested that they were looking to invest in 2014 and wanting to expand their workforce.

Before taking up more staff, small firms should also seriously consider the implementation of a very solid and reliable human resources management system, that will enable them to add more employees in a very sustainable manner.

Tensor plc supplies an extensive range of solid and reliable workforce management and optimization solutions that can help companies of all sizes, from SMEs to large-size enterprises, better manage their employees.

Our WinHR suite enables managers to save and easily access a wide array of data pertaining to each of their employees, thus allowing them to better use the available resources and skill ranges at any given moment.

Moreover, Tensor’s range of products offer both a high level of reliability and good value for money, which means that companies who do decide to implement our solutions will immediately see the returns, without taking a hit as far as their balances are concerned.

If you’d like to find out more about the range of workforce management and Time and Attendance solutions supplied by Tensor, just contact us or Book a Demo, our representatives will be more than happy to answer any questions or queries you might have.