Generally, the words "bright" and "hiring outlook" haven't appeared in the same sentence for the last 15 years or so. Which is why it's a bit refreshing to read the latest news release via the International Franchise Association which states that for the second year in a row, "Franchise businesses are expected to grow faster and create more jobs than the rest of the economy."
The findings came from a report published recently by the International Franchise Association (IFA) Educational Foundation. In regards to hiring, the following bullets were included in the report:
- 200,000 new jobs will be added by franchises in 2014
- Over 12k new franchises will be established in 2014
- Business services, commercial and residential services, and quick service restaurants are expected to be drivers of job creation of 2014
The IFA is attributing the rapid growth to the tax reform and fixes within the ACA, there also planned meetings where members will advocate for legislation that will support further industry growth beyond the modest projections of 2014.
What does this data mean for franchises who are planning to hire in 2014?
- Increased competition for candidates
- More traffic to your career site
- Escalated need for additional hiring tools
Are you expanding your franchise business or increasing your hiring in 2014? Tell us about it in the comments below!