MONACO- - Friday, June 7th 2013 [ME NewsWire]
Women entrepreneurs intend to hire more than their male counterparts in their home markets
Shift in recruitment from breaking into new markets to boosting production of goods and services
WEOY winners doubled revenue and expanded headcount by 40% in last three years
(BUSINESS
WIRE)-- Despite tough economic times, the world’s leading entrepreneurs
have shown remarkable resilience and continue to be positive about
their future recruitment plans. This is highlighted by Global job
creation — an Ernst & Young survey of 200 of former Ernst &
Young Entrepreneur Of The Year® (EOY) winners, released today to
coincide with the World Entrepreneur Of The Year Awards 2013 (WEOY) in
Monaco. The research highlights that 78% of the entrepreneurs said they
intend to increase their workforce at home or abroad in 2013.
The
survey also found that women entrepreneurs intend to hire more at home
than their male counterparts, with 73% planning to increase their
workforce in their domestic markets this year, compared to 69% of the
men. Both men and women said the most important factor impacting their
2013 hiring plans is growth in their products and services – 78% of the
total. Women entrepreneurs also express more confidence in the economic
direction of the countries in which they are headquartered – 88% feel
positive compared to 71% of the men.
This optimism about the
future is reflected in the 49 EOY winners at WEOY. Despite the
challenging global economy in the last three years these individuals
have collectively doubled their revenues to US$40b and expanded their
headcount by 40% to over 200,000.
Maria Pinelli, Global Vice Chair, Strategic Growth Markets at Ernst & Young says:
“In
the past year, the world’s best entrepreneurs have shown remarkable
resilience in the face of sharply variable business conditions
throughout the major global markets. While macroeconomic risks such as
the Eurozone crisis, a slowdown in emerging markets growth and the US
budget impasse have added to investor uncertainty, the world’s leading
entrepreneurs are still looking to recruit in significant numbers.”
Entrepreneurs continue to recruit experienced workforce
When
entrepreneurs were asked what kind of jobs they were creating
(administrative, entry-level with and without university degrees, or
experienced), 51% said they created roles for “experienced
(non-management) personnel”, while only 14% said they will recruit at
“entry level with a degree” and 26% at “entry level with no degree.”
Maria
adds: “Entrepreneurs continue to raise the standard of living in the
countries where they operate by not only creating jobs but good jobs,
that require experience. That’s what we call helping to build a better
working world.”
2013: The year of productivity
A
significant change this year is that entrepreneurs are making
sustainable investments in productivity. Although the percentage of
entrepreneurs saying they continue to hire to enter new markets remains
the most popular response (74% in 2012, 63% in 2013) the number of
respondents saying they are recruiting specifically to boost production
has increased significantly from 28% in 2012 to 45% this year.
Asia-Pacific leads the way adding staff to boost production at 64%,
followed by Europe, at 51% and by the US at 29%.
“This ambition
of our EOY winners to keep growing their products and services in 2013
is so heartening,” says Maria. “Entrepreneurs have gone beyond entering
new market and they are now consolidating their activities. It shows the
world – and inspires us all – as to what can happen when you give good
ideas, and the space to grow them, a chance.”
Women actively seek out talent
When
women entrepreneurs were asked what the two most important reasons for
hiring outside their home country were, 50% said boosting the production
of goods and services (compared to 44% of male entrepreneurs), followed
closely by entering new markets (40% compared to 68% to male
entrepreneurs) and tapping new resource talent (40% compared to 20% to
male entrepreneurs).
Interestingly, “taking advantage of lower
labor costs, proximity to their suppliers (nil to 13% for male
entrepreneurs) or “new source of finance” (3%) scored low for male
entrepreneurs, and did not score at all for female entrepreneurs.
Maria
concludes: “A global, inter-connected world provides increased
opportunities for entrepreneurs and this means the world’s women as
well.”
- Ends -
About Strategic Growth Markets
Ernst
& Young’s worldwide Strategic Growth Markets Network is dedicated
to serving the needs of rapid-growth companies. For more than 30 years,
we’ve helped many of the world’s most dynamic and ambitious companies
grow into markets leaders. Whether working with international mid-cap
companies or early stage venture-backed businesses, our professionals
draw upon their extensive experience, insight and global resources to
help your business achieve its potential. It’s how Ernst & Young
makes a difference.
About Ernst & Young
Ernst &
Young is a global leader in assurance, tax, transaction and advisory
services. Worldwide, our 167,000 people are united by our shared values
and an unwavering commitment to quality. We make a difference by helping
our people, our clients and our wider communities achieve their
potential.
Ernst & Young refers to the global organization of
member firms of Ernst & Young Global Limited, each of which is a
separate legal entity. Ernst & Young Global Limited, a UK company
limited by guarantee, does not provide services to clients. For more
information about our organization, please visit www.ey.com.
This
news release has been issued by EYGM Limited, a member of the global
Ernst & Young organization that also does not provide any services
to clients.
Contacts
Mélodie Deniz
Ernst & Young Global Media Relations
44 781 063 0576
melodie.deniz@uk.ey.com
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