Bay State Booming: Massachusetts Public Companies Grow Headcount

(DGIwire) – It’s a good time to be operating a business headquartered in the Bay State. More than two-thirds of the 188 public companies based in Massachusetts grew their total headcount in 2016, according to Boston Business Journal. Year-end filings for that year indicate that overall, public companies based in the state—which account for about 1.2 million jobs—grew by about 30,000 employees over the course of the year. That works out to growth of about 2.5 percent for the year. More than half of the Massachusetts companies with the biggest headcount growth are in or closely related to the technology sector; life science firms are also well represented.

With non-farm employment of 3,505,300 in October 2016, Massachusetts’ unemployment rate fell to 3.3 percent that month, hitting a level the state hasn’t seen since April 2001, according to the Executive Office of Labor and Workforce Development. The only other states with year-to-year gains of three percent or better were Florida (up 3.1 percent) and Utah (3.0 percent).

Any hiring boom brings with it an array of challenges for a company’s Human Resources department: not only how to attract and retain the best candidates for a widening number of positions, but also how to ensure a company is compliant with local, state and national labor laws. The challenge is exacerbated if the company is relatively small and lacks the resources to support a team of knowledgeable HR professionals.

“When a company is growing quickly, hiring the right people and properly handling the legal and logistical aspects of managing its staff is crucial,” says Rebecca Cenni, the founder and CEO of Atrium Staffing, a New York City-based talent solutions firm. “That is why partnering with a human resources agency with extensive experience navigating the challenges involved in this endeavor can be a great idea.”

Atrium is focused on providing contingent workforce solutions for mid-size and Fortune 500 companies in nearly every industry. Atrium’s expertise includes regional Temporary and Direct Hire Staffing, national Payrolling Services, national Independent Contractor Compliance and Intern Program Design. The company has extensive experience matching the right candidates for a range of positions within a variety of industries.

“Companies in states like Massachusetts, where business is booming in the tech and life science sectors, ought to be able to focus on developing the next drug or seeing through the next invention, not the complexities of managing its HR functions,” Cenni adds. “Some of the most successful companies in these spaces have worked with companies like ours.”