Market Insights

Growing a Business In the Age of COVID

UPDATED ON
April 17, 2023
Mployer Advisor
Mployer Advisor
— Written By
Print Friendly and PDF

In a survey of US businesses with fewer than 5,000 employees that had been growing to scale over the past 5 years, 3 out of 4 of those businesses achieved that growth in part through outsourcing at least half of their additional staffing needs

About 40% of those companies also raised compensation levels for current employees, and a little over 50% had to bring in new hires from outside the company to plug knowledge and ability holes. 

Further, more than 6 out of 10 respondents had found their IT systems were not sufficient to operate at scale and had to scale their technology infrastructure in proportion to the growth of the business in order to maintain functionality, as well. 

You can read more about that survey here.

Want more insights on how your employee benefits compare to companies in your region, industry, and similar employer size?
Download Your Custom Benefits Report Now
See How Your Employee Benefits Compare

Next Up

Federal Court Ruling May Put Millions of US Companies In Breach of ERISA Fiduciary Duty
A Texas court ruled that American Airlines breached its ERISA duty of loyalty by failing to properly oversee BlackRock’s ESG-driven investment decisions. The decision could put millions of employers at legal risk if upheld. Are ESG investments in retirement plans now a liability?
The Employment Situation for February 2025
The latest economic release from the Bureau of Labor Statistics reports that the U.S. job market added just under 150 thousand jobs last month while unemployment ticked down one-tenth of a point to 4% to close out the last such economic report with data collected under the Biden administration.
Are Centers of Excellence On the Decline?
Centers of Excellence (COEs) may have peaked. While mid-sized employers increased adoption, the largest companies are scaling back. Is this a temporary dip or a shift in employer healthcare strategy?