It’s a challenging time to be an employer. It’s a challenging time to be an employer. That’s not a typo. That’s me anticipating all of you who just thought, ”You can say that again.”

  • Labor shortages: The labor market is still very tight, with more job openings than unemployed workers.
  • Rising wages: Wages are rising in order to attract and retain employees.
  • Skills gaps: There is a mismatch between the skills you need and the skills that workers have.
  • Employee turnover: A costly nightmare for small businesses.
  • Benefits: You are facing increasing costs for employee benefits, such as health insurance and retirement plans.

Here are some tips for small business owners who are facing these challenges:

  1. Be creative in your recruiting. Consider non-traditional recruiting methods, such as social media, job fairs, and employee referral bounties. ( Caution- never compromise on candidate quality for key roles.)
  2. Offer competitive wages and benefits. There is no such thing as bargain employees.
  3. Invest in employee training. Grow your own great employees.
  4. Create a positive work environment. It makes no sense to watch your investment leave for things that cost almost nothing.
  5. Be flexible with your work arrangements. If managed properly, it’s the least expensive high-value fringe benefit you can offer.

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