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Four-in-Five Workers Look to Small Businesses for Jobs
ST. LOUIS (PRNewswire-USNewswire), August 16, 2009 - As workers navigate through one of the toughest economies and job markets in the nation's history, they are turning to small businesses in greater numbers. According to a new CareerBuilder survey, one-in-five workers (22 percent) who were laid off from full-time jobs in the last 12 months and landed new positions found those opportunities with small businesses. Another 59 percent said they are interested in working for a small business, while others are considering starting a small business of their own.
According to the U.S. Small Business Administration, small businesses employ half of all workers in the private sector and furnish half of the private gross domestic product. They also account for most of the nation's new job creation.
"Small businesses will play a critical role in the rebuilding of the U.S. job market," said Brent Rasmussen, President of CareerBuilder North America. "As drivers of innovation, small businesses will help to re-energize the economy and support recovery efforts. In turn, workers will find that working for a small business can provide a wealth of experience in a variety of roles, a competitive compensation structure, a flexible work environment and more."
In addition to job growth potential, when asked what most appealed to them about working for small companies, workers pointed to:
-- A family-like work environment - 56 percent
-- More employee recognition - 49 percent
-- A sense that you can make a difference - 48 percent
-- An absence of corporate red tape - 46 percent
The economic situation is also fueling some workers to create their own opportunities. Of workers who were laid off in the last year and have not found jobs, 29 percent are considering opening their own businesses.
Women More Likely Than Men to Experience a Life Crisis
ST. LOUIS (PRNewswire-USNewswire), August 16, 2009 - While nearly all adults will experience a life crisis at some point in their life, women tend to bear the brunt -- both financially and emotionally, according to the results of a nationwide survey released by AARP Financial Inc.
Nearly two-thirds (65%) of the women age 40 to 79 surveyed had already experienced a major life crisis such as job loss, divorce, death of a spouse, or serious illness or disability of an immediate family member or themselves, and in the vast majority of cases, the event had a significant impact on their finances.
"No one escapes the financial implications of a life crisis, but they are particularly acute for women," said Richard "Mac" Hisey, President of AARP Financial Inc. "The demographic considerations are obvious: women outlive men, so they experience more life crises and deal with the consequences longer. But women also tend to be the caregivers. That means women are frequently dealing with the human and logistical consequences of a life crisis, leaving little time and energy for the financial considerations."
Impact of Life Crisis Greater on Women
In times of life crisis, most of us struggle to make the urgent and crucial financial decisions that are usually required -- and for women in particular, that struggle can have dire consequences. For example, among the women surveyed who had experienced the death of a spouse, 46% said it had a very significant impact on their finances (vs. 17% of men), and among women who experienced long-term job loss in their household, 66% said it had a very significant impact on their finances (vs. 49% of men).
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"The findings relative to long-term job loss are particularly troublesome, given the state of the economy and the impact of job loss on women," Hisey said. "Unfortunately, job loss is one crisis that more and more Americans are experiencing."
The financial impact of life crises tends to be immediate and disproportionately borne by women. For example, in the case of divorce 74% of women reduced their expenses (vs. 59% of men), 56% sold their home (vs. 44% of men) and 42% took a job or a second job (vs. 21% of men).
Not surprisingly, the survey revealed that women are more concerned about their financial futures than men -- and have cause to be. Sixty-one percent of women said that they are worried about having enough money for the rest of their life (vs. 52% of men) and 35% of women (vs. 28% of men) have less than $50,000 saved for retirement.
"The road to long-term financial security is already a difficult one for many women, and detours can emerge at any point along the way," Hisey said. "That's why planning for a life crisis and minimizing its financial impact are so important for achieving long-term financial security."
Emotional Impact Also Greater for Women
Beyond the angst many of us feel when dealing with financial matters, life crises can stir up additional emotional and psychological factors that complicate decision-making, such as denial, anger, and regret.
"Even in the best of times, if money is involved, there are certain cognitive and emotional factors that can lead to decisions that are not in our best interests," said Warren Cormier, founder and President of Boston Research Group, and co-founder of the Behavioral Finance Forum, who consulted with AARP Financial Inc. on the study. "But life crises come with an additional layer of complications -- and, frequently, with a requirement to act."
Archived Stories:
 Half of Workers Who Were Laid Off in the Last Three Months Have Found New Jobs
ARRA Creates More Than 2,200 Census Bureau Jobs
In Tough Times, Volunteering in America Remains Strong
Mature Job Seekers Considering Entry-Level Jobs
Minimum Wage Will Increase to $7.25 on July 24
Project Work Can Pave Way to Full-Time Employment
Job Seekers Shift Focus to Government Jobs
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