On today's rundown: employee turnover and hiring are a massive challenges for small businesses. Here are three trends for filling vacancies.
Welcome to the Small Business Run Down. Every day, we bring you stories and trends that impact small business owners and their workforce.
You can’t go anywhere these days without hearing about the labor shortage or seeing ‘Help Wanted’ signs in shop windows. Today we take a closer look at three trends for filling vacancies.
Family-focused perks gaining ground with employers
Employers are expanding family-oriented benefits as part of their ongoing attempts to attract talent during the current labor shortage. According to a recent survey from the International Foundation of Employee Benefit Plans, fertility services, paid parental leave, and flexible health spending accounts are gaining popularity as tools to promote employee engagement and satisfaction.
The Number: ⅓. Slightly less than one-third of companies with 500 or fewer employees offer fertility services coverage as part of their benefits package.
The Quote: “Even for employees who don’t have children, family-friendly benefits send a message that the company cares about its workers as individuals, with lives outside the office.”
Local New York Chamber of Commerce helps businesses attract talent
The Greater Binghamton Chamber of Commerce is doing its part to help local businesses attract workers to Broome Country in upstate New York. With the help of a tourism group, the Chamber has launched the “Experience Bing” program which helps small businesses expand their recruitment reach and lure workers to the area. The program includes visits to popular local destinations and activities, such as minor league sports events.
The Number: 4,000. Currently, there are more than 4,000 available jobs in Broome County. The population of Binghamton is approximately 45,000.
The Quote: “Show them things in the community that are unique to us but meets their needs and their interests so they start to feel connected to this community while they’re considering that job.”
If all else fails, hire your teenage kids…
Small family-owned businesses often serve as the first work experience for many teenagers. This story from the Associated Press outlines three important things you should consider doing when hiring your kids, including creating a plan, setting expectations, and checking in with supervisors and coworkers frequently.
The Number: 12. According to the Family Business Labor Law, children as young as 12-years-old are allowed to work for the family business provided that their parents are the sole owners of the company.
The Quote: “Teens also need to know that at work, their mothers and fathers are first and foremost their bosses.”
…or ask Grandma to come out of retirement!
While Congress is considering legislation to protect aging workers, SBOs should actively recruit older members of the workforce to join the team. Consider these five qualities that the right older worker could bring to your workplace.