Liquid Web, a leading provider of cloud hosting solutions for small to medium-sized businesses (SMBs), recently conducted a study to explore the factors contributing to business success during the COVID-19 pandemic. The research identified key growth drivers over the last five years, including improved employee work environments, strategic outsourcing, and scaling IT infrastructure.
Boosting Employee Compensation and Work Environments
According to Liquid Web’s study, 40% of companies that experienced growth during the research period increased employee compensation. This finding highlights the importance of prioritizing employee benefits to attract and retain top talent in a competitive market.
Filling Skills Gaps with New Talent and Outsourcing
The study revealed that 52% of growing businesses recruited new talent to address learning gaps within their organization. Furthermore, 75% of these companies outsourced half of their additional staffing needs, demonstrating the value of leveraging external expertise to supplement in-house capabilities.
Investing in IT Infrastructure and Managed Services
A significant 62% of businesses scaled their IT infrastructure to accommodate larger virtual machines during the study period. Liquid Web’s Senior Vice President of Marketing, Terry Trout, emphasizes the role of managed hosting solutions in supporting SMBs through these challenges. By partnering with a managed hosting provider, businesses can benefit from expert support, proactive monitoring, and security patching, ultimately enhancing their IT operations and overall success.
Conclusion:
The COVID-19 era has presented unique challenges for businesses seeking to scale. Liquid Web’s study highlights the importance of prioritizing employee benefits, addressing skills gaps through hiring and outsourcing, and investing in IT infrastructure to drive growth. By focusing on these key areas, SMBs can not only navigate the complexities of the pandemic but also lay the foundation for long-term success.
For more insights, visit What Pandemic-Era Success Can Teach Us About Growing a Business.