Welcome to the Small Business Run Down. Each day, we bring you stories and trends that impact small business owners and their workforce.
Today we take a look at the number of companies lowering the experience threshold for hiring and the impact that the threat of gun violence has had on SBOs before “Heading North to the Future.” Happy Thursday, Everyone!
No shirt, no shoes, no experience? No problem.
We’ve talked a lot about how hard it is to fill open positions with today’s national sub-4% unemployment rate. Employers continue to compensate in all sorts of creative ways, including hiring workers with less than the required amount of experience. An additional concern: if hiring managers aren’t quick to move on a candidate, 70% of job seekers will move on to another opportunity within a week.
The Number: 62%. Last year, 40% of companies reported lowering their requirements to fill vacant positions. This year 62% of businesses say they would hire someone with less experience than stated on the job posting.
The Quote: “The shelf life of a candidate can shrink from days to 24 hours. If a company requires background checks, drug screening and three interviews, the candidate is going to walk down the street and get a job somewhere else. It is imperative companies get candidates in the door — and through interview processes — quickly.”
Gun violence raises anxiety among small business owners
The recent spate of mass shootings has some small business owners on edge, to the point that they’re placing extra emphasis on emergency training and workplace violence. Experts in preparedness stress the importance of informing management if a colleague starts behaving strangely or shares that they are in a violent, abusive or unstable relationship.
The Number: 40%. Relatives or domestic relationships are responsible for 40% of the violence perpetrated against women in the workplace.
The Quote: “That could have been my office. It could have been anybody.”
You’re OK for women entrepreneurs, AK!
The largest state tops the list when it comes to female entrepreneurs, according to a study by the University of Alaska. According to their estimates a full 30% of businesses across the Last Frontier are owned by women. The state is also ranked 7th in the nation when it comes to employment growth among women-led firms.
The Number: One. At #49, Alaska might have been a late addition to the US, but it currently ranks #1 when it comes to highest-percentage of women-owned businesses in the country.
The Quote: “I’d like to think it’s sort of our pioneering spirit, the fact that Alaska women are pretty scrappy and so you see an opportunity and you go for it.”