Dow Jones Newswires announced this week that small businesses continued to hire in September, and that employees worked a greater number of hours and were paid more, according to Intuit Inc.’s (INTU) monthly small business employment index.
For the period between Aug. 24 and Sep. 23, Intuit found that small business employment edged up 0.3%, equating to an annual growth rate of 3.3%. Hours worked during the period and compensation both increased by 0.3 percent, reversing declines seen in those data in August.
“Unlike in August, there is no softness in September’s numbers: employment is up, hours worked are up and compensation is up,” said Susan Woodward, an economist who worked with Intuit to create the monthly index.
Average monthly pay for all small business employees was $2,694 a month in September, up from $2,685 in August. Small business hourly employees worked an average of 110.4 hours in September, an increase from the August figure of 110 hours seen in August.
Small businesses, which created 55,000 new jobs in September, have created 720,000 jobs since October 2009, according to Intuit. (Information obtained via Mia Lamar, Dow Jones Newswires).
This correlates with the report we blogged about last week – stating that there has been an increase in pre-employment screening among businesses across the country.
”To successfully navigate such a dynamic environment, employers are actively seeking the best practices for hiring and screening that will help them ensure they are making the best decisions for keeping their workforces engaged, productive and safe,” said Andy Macdonald, President & Chief Executive Officer of First Advantage.
While unemployment remains high, those businesses that are hiring are being ever more careful about who they employ – considering the effect that new hires can have on the future of a business. Make the wrong decision, and you will be putting yourself, your employees and your business in jeopardy.
How can you protect your business?
Simple. Hire an employment verification service – this will help you to ensure that all current and new hires are reliable, trustworthy individuals that have no suspect history which can have a potentially detrimental effect on your business.