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Management practices have a direct impact on the business Performance and employing others is strongly linked to better well-being!

By | Nicolas BEHBAHANI | Global People Analytics Leader @ Future of Work | Leading Global HR Analytics, Driving Business Growth

πŸ’₯ Entrepreneurship is widely thought of as a pathway to wealth.

πŸ’‘ Business owners who score higher on a management practices index oversee better-performing businesses, as measured by recent revenue growth, profits and profit margins.

πŸ‘πŸ» Entrepreneurial traits tend to be higher among Black, Hispanic and multiracial workers, the highly educated, and older workers. They do not differ significantly by sex.

πŸ’² Being a business owner with no employees is not associated with significantly higher income, wealth, job satisfaction or life satisfaction; rather, the entrepreneurial pathway to wealth and wellbeing often requires employing others, according to a new interesting research published by Gallup , supported by JPMorgan Chase & Co. and Ewing Marion Kauffman Foundation using data πŸ“Š from a final sample of 9,852 US workers included 3,117 β€œowners,” defined as anyone who received at least some income in the prior month from a business they own. Among these owners, 976 reported that they employed at least one employee other than themselves. Surveys were completed between Sept. 21 and Oct. 30, 2023.

βœ…The 5 categories of Owners

Defining Work Arrangements

Researchers defined five categories of workers:

1️⃣ Employee only.These adults are solely employees, the largest and most conventional category of workers. They comprise just under two-thirds of all workers.

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