Small businesses find some relief from hiring woes

  • 📰 FoxBusiness
  • ⏱ Reading Time:
  • 85 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 37%
  • Publisher: 53%

Finance Finance Headlines News

Finance Finance Latest News,Finance Finance Headlines

Red hot labor market cools, improving hiring prospects for small business and decreasing turnover. Talent easier to find amongst big tech and banking layoffs.

say it is getting easier to hire workers and keep them around, in what they hope is a sign that the worst of their labor problems are behind them.

UnaliWear Inc., a maker of medical-alert wristwatches, struggled this summer to keep new employees on the job. "They would ghost us," said CEO Jean Anne Booth, who has 17 employees. "They would accept the job, show up one week, and never show up again." The shift is modest and comes as unfilled job openings continue to weigh on many small businesses. Of those surveyed, 56% said hiring challenges made it difficult to operate at full capacity. Eighty-four percent of small-business owners reported raising wages in response to labor-market challenges, and more than two-thirds reported offering flexible hours and schedules.

"There’s a lot of pretty high-level talent in our industry that’s being displaced as part of this shift in the economy," said Ridge, who has 33 employees. "There’s potentially an opportunity for us to acquire some really experienced talent that in a normalized market we would never have the opportunity to get."

A"Now hiring" sign hangs on the door of a retail small business store in Lower Manhattan, Jan. 4, 2019 in New York City.For other small businesses, hiring remains as difficult as ever. Staffing shortages have led Doetsch Environmental Services in Warren, Michigan, to frequently send out crews staffed by three people instead of four. The company, which specializes in cleaning underground sewer systems, has 50 employees and 20 job openings.

Doetsch has increased starting pay by roughly 30% in the past 18 months and compressed the schedule for earning raises. It spends more time talking with job candidates about company benefits and prospects for advancement.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Bidens illegal slave labor force obviously.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 458. in FİNANCE

Finance Finance Latest News, Finance Finance Headlines