As signs of more business activity are showing, small-business owners are becoming more open to bringing in more employees, according to a new survey by Insperity Inc.
The survey finds that more than 40 percent of respondents are hiring, a jump from 28 percent in October 2012, while 55 percent of respondents say they are maintaining employee numbers. Only 5 percent of respondents say they are reducing staff, a decline from 9 percent in October 2012.
Compensation also appears to be moving upward, the survey finds. From the first quarter of 2012, average compensation grew by 3.7 percent, though bonuses dropped 0.6 percent. Average commissions also increased by 4 percent, up from the 2.6 gain in the first quarter of 2012. Overtime compensation remains low at 8.7 percent of regular pay. This is lower from the 10 percent level during the last quarter but still up from 8.5 percent in the first quarter of 2012.
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