Reliant Funding Releases Small Business Hiring Report for Summer 2018
- August 6, 2018
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Reliant Funding a leading small business finance provider today announced the results of the Small Business survey conducted. The study focused on different aspects of hiring challenges small business owners face.
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Complete Statistics from Small Business Hiring Report
Are Small Businesses Understaffed?
- 71.75% said no
- 28.25% said yes
Is it Hard to Find Qualified Employees?
- 52.47% said yes
- 47.53% said no
Where do SMB’s Search for Employees?
- 31.07% use free job boards
- 29.13% use employee referral program
- 15.53% use paid search platforms
- 9.71% attend career fairs to recruit
- 7.77% hire a headhunter
- 6.80% recruit through paid internship programs
Are SMB’s Planning to Hire Soon?
- 70.85% said no
- 29.15% said yes
Those who are hiring
- 82.81% need permanent employees
- 17.18% need temporary employees
And Here’s How They Compensate
- 59.38% offer salary based pay
- 28.13% offer wage commission-based pay
- 12.50% offer minimum wage
How About a Raise?
- 81.90% of SMB employees haven’t asked for a raise in past six months
- 18.10% have asked for one
SMB Employees are Loyal!
- 80.08% say no employees have quit in past six months
- 19.91% say they have had employees quit
Those who quit – Here’s Why
- 35.71% to leave the industry
- 30.95% to pursue better pay
- 21.43% to relocate
Competitive Pay
- 72.38% of SMB’s haven’t offered higher wages to attract more qualified employees
- 27.62% Have offered higher wages to attract qualified employees
Do SMB’s offer Perks? Most do!
- 58.57% offer work schedule flexibility
- 20.48% offer no perks
- 12.38% offer the ability to work from home
- 5.24% all of these
- 1.90% unlimited time off
- 0.95% offer sabbaticals
- 0.48% daycare options
Plans for the Summer
- 50.75% plan to host a BBQ/picnic for staff
- 34.33% arrange volunteer events for staff
- 14.93% organize sports teams
Demographic snapshot of those surveyed
Industry
- Miscellaneous 34.08%
- Service / Consulting related 31.84%
- Retail Industry 8.79%
- Construction Industry 7.62%
- Healthcare Industry 7.17%
- Restaurant & Bar Industry 4.93%
- Transportation Industry 2.69%
- Automotive Repair Industry 2.69%
Gender
- 56.67% male
- 43.33% female
Age
- 18- 29 years 8.57%
- 30-44 years 36.19%
- 45-60 years 18.57%
- >60 years 36.67%