Small businesses struggle to stay afloat after the coronavirus pandemic, the economic contraction, and the ongoing labor shortage. It might take several months for the labor shortage to end as the federal government will continue to pay unemployed workers as a component of the coronavirus relief package. The challenge lies in keeping your Hammond, LA small business afloat during these challenging times. Let’s take a closer look at small business hiring struggles and what your small business can do to fulfill demand despite the decline in job-seekers.
Small Businesses Need Workers
A record number of small businesses in the United States are mired in the struggle to hire enough workers to meet demand. We are approaching six straight months in which nearly 50% of small business owners have reported they cannot fill open jobs. Sadly, some business owners and managers are working overtime to cover the labor shortage, reduce hours, or simply shut their doors.
The National Federation of Independent Businesses reports nearly 95% of small business owners to state they have not received applications from qualified candidates or very few such applications. There are openings for skilled workers and unskilled workers, yet generous stimulus payments from the federal government have dissuaded people from working. It is fascinating to note new unemployment claims recently dipped below 400,000 for the first time since the worldwide pandemic started.
Don’t Make Customers Feel the Pain
The answer to the labor shortage in Hammond, LA, is not to significantly hike prices or limit store hours to a small window of time. Instead, bringing on temporary workers through staffing agencies, taking on interns, paying current employees overtime, and increasing wages are legitimate solutions to the labor shortage problem. Businesses that keep prices competitive and maintain their regular hours without paying an egregiously large amount of employee overtime will prevail in the end.
Consider the Insight of a Proven Business Consultant
Meeting with a business consultant for expert insight and advice has the potential to propel your business to new heights even amidst the ongoing labor shortage. An outside perspective of the problem provides fresh and valuable insight along with alternative solutions you might not have considered. If you are looking for assistance with bookkeeping, payroll, taxes, your company’s finances, or your overarching strategy. In that case, it is in your interest to meet with an experienced business consultant at Sensible Services ABC in Hammond, LA.
So don’t assume you have to do it all on your own. Consider all available solutions, delegate work accordingly, and let your team help your small business reach its true potential. Continue to perfect every aspect of your small business with the guidance of a business consultant. Lean on the outside experts for payroll, taxes, bookkeeping, and you will find your Hammond, LA business makes it through the temporary labor shortage intact. Outsourcing such work to the specialists at Sensible Services ABC ensures you always have someone available to do meaningful work on behalf of your business, meet deadlines, and continue progressing despite short-term challenges and setbacks.
Schedule an Appointment With Sensible Services ABC
We are proud to provide Hammond, LA, small business and financial consulting services that help companies reach their true potential. If you own or manage a business in or near Hammond, LA, you can benefit from our consulting, bookkeeping, payroll, and tax services. Reach out to us today at 985-222-2088 to schedule an appointment. You can also contact our Hammond, LA business consultants through our online contact form. Reach out to us today, and we will be in contact at our earliest convenience.
