Welcome to the Small Business Weekly Rundown. Each week, we bring you stories and trends that impact small business owners and their workforce.
Small Business News Highlights:
- “Rage quitting” contributes to record-breaking number of Americans leaving jobs in April
- U.S. has 9.3 million job vacancies
- California law requires vaccinated workers to continue wearing masks in the workplace
- Workplace harassment turns virtual in Work From Home era
- Small businesses foot tax bill for Paycheck Protection funds in some states
“Rage quitting” contributes to record-breaking number of Americans leaving jobs in April
“I was like, you know what, this company and the employees here just don’t care about anything other than the bottom line.”
Approximately 4 million workers left their jobs in April according to the Department of Labor, marking a 20-year high. The retail and professional services and business sectors saw the majority of the employee departures.
For many workers, ongoing labor shortages and the promise of better positions fueled the desire to leave. Others cite ongoing frustrations with pandemic-related dynamics and workplace frustrations behind the decision to “rage quit” their job.
U.S. has 9.3 million job vacancies
“Even if you want to hire, and a record share of companies do, it doesn’t mean that you’ll land the right person quickly. Be prepared to pay.”
It appears that April’s employee exodus contributed to a record-breaking 9.3 million job vacancies in the economy.
This number outstripped expert forecasts by approximately a million. And employers were only able to hire 6.1 million people for open positions, reflecting the need for companies to get creative in their recruiting strategies.
California law requires vaccinated workers to continue wearing masks in the workplace
“Cal/OSHA is out of step with the rest of the country.”
The California Occupational Safety and Health Standards Board recently approved a rule that will require California workers to continue wearing masks in the workplace unless everyone else has been vaccinated.
The rule has generated much controversy, and is slated to go into effect on June 15, when most other mask restrictions in the state will be loosened.
Workplace harassment turns virtual in Work From Home era
“Words can be harassing, images can be harassing, and threatening behavior can be harassing, whether it’s in-person or not.”
The rise of remote working during the COVID-19 pandemic did not correlate to a drop in workplace harassment, as many HR professionals might have hoped.
Instead, virtual work made it easier, in some ways, for bullies to harass colleagues, with 52% of women reporting they’d experienced some sort of harassment or microaggression in the past year. Research also found that the pandemic saw a 25% increase in gender-based harassment, particularly related to the privacy afforded by on-line interactions.
Small businesses foot tax bill for Paycheck Protection funds in some states
“[Counting PPP money as income] would take me from a small loss to a small profit in a year when I actually wasn’t profitable. I would be paying tax on what feels like phantom income.”
Small businesses owners in some states have raised concerns about paying state taxes on money received from the Small Business Administration’s Paycheck Protection Program (PPP).
While the federal government will not tax funds from PPP loans that have been forgiven, at least 11 other states, including California, Florida, Hawaii, Minnesota, Nevada, New Hampshire, North Carolina, Texas, Utah, and Washington, currently tax the money or are considering taxing it.
The Latest from Workest
Whether you never left the office, are just going back, or will continue to work remotely for now, it’s a good idea to make sure that team dynamics are strong and healthy. Consider these tips for building a more effective team from Joel Carnevale.
Budgeting! Everyone’s (least?) favorite activity. Grace Ferguson helps make sure your small business stays in the black with this small business guide to payroll budgeting.
Finally, before we say goodbye for the week, here are 3 things you should know:
- Getting pushback from employees about returning to the office? You’re not the only one. A group of Apple employees have asked Tim Cook to reconsider requiring workers to return to the office in September.
- Walmart plans to give 740,000 employees smartphones so they can access a new company app to schedule shifts, clock in and out, and deal with other work-related issues.
- Messaging platform Slack believes that hybrid is the future of work … and has introduced new emojis to prove it.