Survey: Woman-Owned Businesses Retaining and Hiring Employees in Tough Economy
Editorial:
From the press release:
Women Presidents have shown they can adjust to the changing economic climate. Results from the surveyed membership indicate 82% of multi-million dollar business owners have positive outlooks and experienced company growth in 2011, according to the annual economic survey by the Women Presidents' Organization (WPO), the premier peer advisory organization for women entrepreneurs. Despite the economic downturn, 42% of these CEOs and presidents were able to give their employees raises while, 49% maintained current employee salaries.
"These statistics are evidence of the versatility and strength of companies owned by women entrepreneurs even in the face of adversity," said Marsha Firestone, Ph.D., president and founder of the WPO. "Our survey indicates that WPO members have found ways to retain their employees in a changing economy, and to hire, provide benefits and competitive compensation. I sincerely believe that the members of the WPO represent models of perseverance for small businesses globally."
The WPO currently has 1,500 members from four continents (North America, South America, Africa, Europe) and the survey confirmed that the WPO has helped 80% of these women presidents manage their business.
Other Key Findings:
Health Care
Health Care
- 84% provide health insurance to their employees
- 27% cover 81%-100% of health insurance for employees
Optimism in Small Business
- 51% of members have experienced positive growth
- 51% are optimistic about their financial performance in 2011 relative to 2010
- 40% indicated the greatest threat to their bottom line are the current economic conditions
- 71% of WPO members have six figure salaries
WPO
- 58% of member businesses have grown since joining; 75% of these believe WPO has helped them grow
- 80% Believe the WPO helps manage business concerns in the current economic climate
- 72% Believe their WPO Chapter is the most valuable resource that WPO provides.
This survey was sponsored by Wells Fargo and had a sample size of 275 WPO members.
Additional survey data and interviews are available upon request.
Methodology
WPO members were surveyed for their responses in July/August 2011. Members responded in an anonymous electronic format.
WPO members were surveyed for their responses in July/August 2011. Members responded in an anonymous electronic format.
About the WPO:
The WPO is the premier peer advisory organization connecting women who own multi-million dollar companies. In monthly meetings across four continents (US, Canada, Peru, South Africa and the UK) chapters of 20 women presidents – from diverse industries– invest time and energy in themselves and their businesses to drive their corporations to the next level. Local WPO chapters are coordinated by a professional facilitator and meet monthly to share business expertise and experience in a confidential setting. For more information, call 212-688-4114 or visit www.womenpresidentsorg.com.
The WPO is the premier peer advisory organization connecting women who own multi-million dollar companies. In monthly meetings across four continents (US, Canada, Peru, South Africa and the UK) chapters of 20 women presidents – from diverse industries– invest time and energy in themselves and their businesses to drive their corporations to the next level. Local WPO chapters are coordinated by a professional facilitator and meet monthly to share business expertise and experience in a confidential setting. For more information, call 212-688-4114 or visit www.womenpresidentsorg.com.
Source:
PR Newswire press release
URL:
http://www.prnewswire.com/news-releases/woman-owned-businesses-retaining-and-hiring-employees-in-tough-economy-132922148.html
Date:
November 2, 2011
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NCRW is a network of leading university and community based research, policy, and advocacy centers with a growing global reach dedicated to advancing rights and opportunities for women and girls. We also have a Corporate Circle comprised of senior diversity professionals from leading U.S. and global member companies and a Presidents Circle of college and university leaders who share our commitment. NCRW harnesses the collective power of its network to provide knowledge, analysis, and thought leadership on issues ranging from reducing women’s poverty to building a critical mass of women’s leadership across sectors.
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