Competing for talent in the middle market Results of the Q4‘16 Middle Market Indicator from the National Center for the Middle Market

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Employment grows, but talent recruitment + retention remains an issue

It’s been a good year for middle market businesses according to Q4‘16 Middle Market Indicator[MMI] from the National Center for the Middle Market[NCMM].

More than four in 10 companies (44%) say employment increased in 2016. And businesses that hired have added jobs at increasingly faster rates.

BUT…Middle market businesses are concerned that an inability to recruit employees with the right skillset is going to limit their ability to grow.

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The good news:

Middle market employment growth rose every quarter in 2016.

5.4%In QTR4

By the Middle Market Indicator(MMI) estimation, the middle market produces 3out of 5 net new private-sector jobs.

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Now the not-so-good news:

of firms believe being able to recruit the right talent will hinder growth.37%

5 years of MMI data consistently show the middle market producing jobs one-and-a half or two times faster than either big or small business.

Download the full report.

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Firms are having difficulty finding talent

Talent management continues to be an issue, especially retention and recruitment of professional and technical experts.

The # 1 reason Skill level

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How can they resolve talent shortage?

Many firms are considering improving salaries and offering flexible work arrangements to attract talent.

59%

Recruit constantly to help expand the qualified pool of candidates.

of companies wait until they have a specific position to fill before looking at candidates

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Developing your people.

A systematic approach to training will ensure your people have the right skills before the need arises.

Resolve talent shortage by:

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Firms are facing competition from other employers.

Firms are having difficulty finding talent

The # 2 reason Competition

Read the executive summary.

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Offer candidates a career development plan to set your company apart from competitors.

Only 40% of firms have systematic career advancement policies.Just 35% of positions are filled by internal candidates

How can they beat the competition?

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1 Video: The Trump administrations’ effect on the middle market.

2 Read the MMI executive summary and download the full report.

Learn more about the current state of middle market businesses.

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