SOURCE: SurePayroll, Inc.

SurePayroll, Inc.

November 24, 2014 07:00 ET

SurePayroll Small Business Scorecard®: SMBs Maintain Holiday Bonuses, Start Hiring

More Than Half Will Give Bonuses

GLENVIEW, IL--(Marketwired - November 24, 2014) -  Small businesses with 1-10 employees began hiring again for the first time since August, according to the November 2014 SurePayroll Small Business Scorecard®. The Scorecard optimism survey also found that these businesses are giving the same amount of bonus money as last year, when hiring was down.

SurePayroll Inc., a leader in providing online payroll to small businesses nationwide since 2000, releases its Scorecard monthly, giving an exclusive perspective on hiring and wage data from microbusinesses, a key driver of the economy.

November's survey found that 52 percent of small businesses are giving bonuses and 89 percent of those bonuses will be the same or better than a year ago. These numbers are nearly identical to last year's survey results, with the exception a 0.1 percent uptick in hiring this November. Last year, hiring was down 0.1 percent in the month of November.

"You might have expected small business owners to give less holiday or year-end bonuses because they're bringing on more people, however they've been telling us profitability is up and that seems to have allowed them to maintain their bonuses," said SurePayroll General Manager Andy Roe.

Only 38 percent of respondents said the general state of the economy and other macro-economic factors caused them to give less in bonus money. Again, roughly the same as last year.

"That tells us while the economy hasn't gotten tremendously better for small business owners, it at least hasn't gotten any worse," said Roe. 

Small business owners' level of optimism about the economy perked up to 65 percent in November, after dropping to 62 percent in October.

Meanwhile, hiring was up throughout most of the country, increasing 0.2 percent in the Midwest; 0.1 percent in the South and 0.7 percent in the West. The Northeast saw hiring drop 0.7 percent. In terms of the average paycheck, it fell 0.4 percent nationally, which is common when hiring rises. Regionally, the average paycheck was flat in the Northeast and South; down 1.0 percent in the West and down 0.6 percent in the Midwest.

The number of 1099s went from 6.59 percent last month to 6.57 percent in November.

As the first economic indicator created by a payroll company, the SurePayroll Scorecard has provided a monthly look at national hiring and paycheck trends since October 2004. SurePayroll's Scorecard compiles data from small businesses nationwide, and exclusively reflects the trends affecting the nation's "micro businesses" -- those with 1-10 employees. The average business reflected has six employees.

The full SurePayroll Small Business Scorecard - Main Street Matters infographic includes data for SurePayroll's top MSAs. The October 2014 Scorecard is available now on the SurePayroll blog.

About SurePayroll

SurePayroll is the trusted provider of easy online payroll services to small businesses nationwide. Whether a business has 1, 10, or 100 employees, SurePayroll delivers peace of mind by combining innovative, industry-leading technology and personalized support from an award-winning, U.S.-based customer care team. SurePayroll also provides private-label and co-branded services for accountants and banking partners as well as offering efficient online solutions for managing 401(k) plans, health insurance, workers' compensation, employee screening and more. SurePayroll is a wholly owned subsidiary of Paychex. For more information, please visit www.SurePayroll.com. Follow us on Twitter - Circle us on Google - Connect with us on LinkedIn - Like us on Facebook.

About Paychex

Paychex, Inc. is a leading provider of payroll, human resource, insurance, and benefits outsourcing solutions for small- to medium-sized businesses. The company offers comprehensive payroll services, including payroll processing, payroll tax administration, and employee pay services, including direct deposit, check signing, and Readychex®. Human resource services include 401(k) plan recordkeeping, section 125 plans, a professional employer organization, time and attendance solutions, and other administrative services for business. A variety of business insurance products, including group health and workers' compensation, are made available through Paychex Insurance Agency, Inc. Paychex was founded in 1971. With headquarters in Rochester, New York, the company has more than 100 offices serving approximately 580,000 payroll clients as of May 31, 2014. For more information about Paychex and our products, visit www.paychex.com.

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