Welcome to the Small Business Rundown. Each day, we bring you stories that impact small business owners and their workforce.
Small Business News Highlights for August 18:
- Safety and childcare concerns prevent employees from returning to work
- Employers still waiting on payroll tax deferral guidance
- Survey finds that most workers don’t want to work in fully remote environment
Safety and childcare concerns prevent employees from returning to work
“The truth is, we don’t know yet how we’re going to work through this. It’s a huge concern for us.”
Despite the fact that 40% of employers have offered some form of support or accommodations related to childcare to returning workers, a recent survey by the Chamber of Commerce Foundation found that a lack of childcare ranked nearly as high as concerns about health and safety for workers unable to return to work.
Congress take note: the study found that a quarter of employers are willing to invest more in childcare for employees while more than half said “they would be willing to do so were the government to provide incentives such as tax benefits or subsidies.”
Employers still waiting on payroll tax deferral guidance
“Some employers are worried that employees are not prepared for a future reduction in their paychecks. They’re also concerned about getting their systems revised to take care of withholding. And if employees leave between now and the end of the year, will the employer be required to recoup the money out of their own pockets if they can’t get it from the employees starting in January?”
Experts note that Trump’s action on the matter was technically not an order, it was a memorandum. The memorandum allows employees to defer their 6.2% contribution to employee payroll taxes under a certain biweekly limit from September 1st through December 31st, 2020. Many employers are concerned that Congress will not forgive the payroll tax entirely, requiring employers to take out a double portion after the holiday ends.
Survey finds that most workers don’t want to work in fully remote environment
“These survey findings point to employers’ ongoing struggle with finding qualified, relevant candidates in their industry. This challenge will only become prominent as professionals laid off during the pandemic re-enter the job market in droves and flood inboxes with applications. At the same time, there is still much uncertainty surrounding the economy and labor market – increasing the importance of strategic online recruiting.”
A recent survey found that, despite a massive shift to remote work during the COVID-19 pandemic, less than 8% of employees want to work in a remote-only setting.
The study, which examines recruiting and hiring trends in 2020, found that just over 42% workers prefer the flexibility to work between home and the office, while almost 37% responded “any of the above” indicating that they are so desperate for a job that they will accept any arrangement offered.