Work with me here.
According to Census information from 2004, there are (were) about 6 million businesses in the U.S. with employees.
Out of those, 5,996,500 have fewer than 2,500 employees.
So, depending on how you define small and mid-size businesses, there are fewer than 3,500 large, enterprise-esque and enterprise businesses doing business in the U.S. totalling over 1.8 billion employees.
Not a very big pool compared to the remainder (considering number of firms, not employees - which actually makes it very lucrative for benefits, payroll and talent management firms), and which is also why we've seen the big kids on the HR marketplace block drill down into smaller markets.
Or at least try to.
Now, I'm sure there are up-to-date numbers elsewhere considering the downturn, but again, work with me here.
What I've heard in the past few weeks from various talent acquisition/management suppliers and other HR tech leaders is that more than half of the remaining 5,996,500 firms (totalling over 2.4 billion employees):
Granted much of what I've heard is anecdotal and based on small sample sizes, but even if half of this number is accurate, what this says to me is that the HR marketplace isn't doing a very good job of educating the HR marketplace.
- Have no Web- or install-based automated HR software systems to help with recruiting, hiring, onboarding, benefits and comp administration, performance management, succession planning, workforce planning, etc.
- Have executive management teams and/or owners who really don't understand what Web- and/or install-based automated HR software systems are, how they can help improve talent workflow processes and retention while saving time and money, and because of this have inflated price fears of what it might cost to purchased them.
And if that's the case, there's a lot of friggin' business out there to be had by HR suppliers big and small as the good ship lollipop of American business finally starts to sweeten again.
It all starts by sharing compelling content to educate your prospects and nuture them to become leads and buyers.
Trust me. We've got lots of compelling stories to share.
Post by Kevin W. Grossman (join me on Twitter, Facebook and LinkedIn)
Labels: content marketing, HR marketplace, HR suppliers, marketing and PR