Improve Workforce Training
HHR
A Small Business that makes good hiring decisions tends to have higher productivity and lower turnover, which positively affects the bottom line.
Hiring the wrong people can have a negative impact on employee morale and management time and can waste valuable training and development dollars.
- Smaller employers place a premium on their employees: nearly all Small Businesses provide opportunities for on-the-job learning. The majority of Small-Business owners say employees stay with their business four or more years, with a reported 69 percent of employees staying at least three years with companies including a comprehensive approach to their onboarding, including skills training.
- According to NSBA’s Small Business Workforce and Labor Survey, when it comes to workforce preparedness, nearly 25 percent of Small-Business owners believe the quality of high-school educated workers has gotten worse in the last five years.
- Interestingly, a number of companies including a number of tech firms, are dropping requirements for traditional education degrees; however, hiring at Small Businesses with fewer than 50 employees has slowed for a considerable streak of time.
- An estimated 33 percent of Small Businesses pay for off-site training for employees, and approximately 25 percent provide money toward employees’ continuing education, underscoring the real-world cost of the skills gap many employers face.
Small Businesses’ hiring challenges around the country are changing, with a delicate balance of a need for skills and a need for an educated employee pool.