MN Employers Foresee Increased Productivity, Hiring
More than 300 business leaders from across Minnesota expect that their companies' employee productivity will increase during July, August, and September, according to a survey conducted in late June by Twin Cities Business. A total of 625 business leaders representing all industries and company sizes responded to the survey.
Some 43 percent of respondents also anticipate revenue gains, and 33 percent plan to increase their employment levels during the period. Industries most likely to see employment increases are insurance; accounting and other professional services; retail/hospitality; and manufacturing. Those least likely to hire are government; utilities; and agriculture, forestry, and fisheries.
In terms of where growth is expected to occur geographically, Wright County had the highest number of employers planning to increase headcounts; Carver County had the highest number of companies planning to invest in capital outlays and/or infrastructure improvement.
The survey also found one-third of respondents believe business conditions will worsen during the quarter ending September 30. And more than one-quarter said they believe finding qualified workers and obtaining financing for their businesses will become more difficult.
Twin Cities Business conducted the survey to provide a glimpse at overall business planning and sentiment among leaders across all areas and industries in Minnesota. With assistance from the Minnesota Chamber of Commerce, the magazine polled 14,482 leaders and received responses from 625, resulting in a 4.3 percent net response rate.