Pulse of Business Survey Results Q4 and FY19

Author: Elizabeth Mueller

pulse of business

The pulse of Business Survey Results - Q4 and FY19

Every quarter, the Tempe Chamber in partnership with the Phoenix Chamber and six other chambers across the Valley, conducts a business outreach survey that aims to help better understand the needs and concerns of chamber members throughout Maricopa County. During the third quarter, 220 businesses participated in the Pulse of Business online survey and below are the aggregate data highlighting the main concerns, triumphs and challenges that business partners face Valley-wide. 

The most common workforce issues that about 60% of businesses claimed to have dealt with over this past quarter included the availability of labor, the cost of labor, employee retention and lack of experience. Specifically, the availability of labor was the largest concern that businesses reported having.

On a more positive note, about 74% of businesses rated the overall health of their business to be “strong” or “very strong” and approximately 79% rated the overall health of the local economy as being “very healthy” despite facing issues relating to workforce. As compared to 58% in Q3, 75% of businesses are planning on hiring new employees within the next twelve months. With that being said, the total projected new jobs within the next year are approximated at around 3,521, with the majority of the wages for those jobs being focused on the business/professional services, information technology, and health care industries.  Read the full report here.

The Tempe Chamber of Commerce offers several resources for employers and employees that contribute to the health and success of the local economy. A collaboration between the City of Tempe Human Services Department, Economic Development Department and the Tempe Chamber of Commerce, Career Ready Tempe is a program that aims to help prepare Tempe high school youth for the workforce by connecting them with college and career readiness support and partnering with Tempe employers to provide an 8-week paid summer internship. The internships offered through Career Ready Tempe are available within in-demand fields of work, mostly focused on the advanced business services, advanced manufacturing, and bioscience sectors.

A signature series of the Tempe Chamber that aims at educating the business community on hot-button issues is the bi-monthly Emerging Issues Forum. Sponsored by SRP, each Forum offers an array of economic, political and educational topics and space where business owners, legislators and other leaders in the community can discuss solutions and new innovative ways of tackling the issues at hand. Recent Emerging Issues Forums have included “Education and the Tempe Workforce Pipeline” and “Workforce Programs for your Business” where guest speakers such as Trevor Stokes, the Program Manager at the Arizona Office of Economic Opportunity, and Darcy Renfro, Chief of Staff at Maricopa County Community College District, have shared their expertise in relation to several workforce issues and solutions that the business community encounters.  

Overall, the feelings of businesses towards the greater Phoenix economy are positive and optimistic. The majority of businesses view the economy of the greater Phoenix area as healthy, and these economic conditions can be expected to last throughout the next several years. For more information on how the Tempe Chamber of Commerce is working to find solutions for problems the business community faces and upcoming programs such as the Emerging Issues Forum and other workforce-related opportunities, please visit www.tempechamber.org.