U.S. Businesses Rank Reducing Overhead and Increasing Staff as Top Resolutions for 2011
Regus, the global provider of flexible workplace solutions, has surveyed the opinions of businesses worldwide to determine their top New Year's resolutions for 2011. In the U.S., the top resolutions were to reduce operating overheads, add new staff, conserve working capital and introduce more performance related pay - broadly consistent with the global picture.
Ranking at the top of business owners' resolution list were the goals to reduce overhead while increasing staff. In fact, 39 percent of U.S. businesses indicated that they intended to increase staff in 2011, with only eight percent saying they would cut staff.
Unlike the much criticized guaranteed bonus culture in the financial sector, U.S. businesses are planning to make performance related pay a key part of their 2011 plan, matching rewards with real results. Set against an overall bullish business outlook, high-performing staff can look forward to enhanced earnings in the New Year further highlighting that businesses see no room for complacent workers as economic recovery continues to takes hold.
Sande Golgart, regional vice president for Regus, comments "Business attitudes for 2011 show a gritty determination to go for growth and ride the wave of global economic development. Staff, especially in small-to-medium sized enterprises, will all have to make a measurable contribution to revenue growth and in turn will be rewarded accordingly. The research clearly shows that performance-related pay is becoming the standard in global businesses."
Deborah Osgood, co-founder and chief knowledge officer of the Knowledge Institute adds, "With so many survey respondents revealing that they plan to hire more staff in the New Year, businesses are more than ready to seize growth opportunities. Incentives like performance-related pay reinforce the value that talented employees represent to business success. With timely and fair performance measurement systems, and shared business objectives, the New Year promises a strong economic recovery climate."