And you are not alone. A recent article on the website CPA Practice Advisor speaks to this issue. While business is growing, the challenge with staffing for that growth can be troublesome.
Hiring Remains a Top Challenge
In October, business owners were asked to identify the most important challenge facing their businesses today. Sixteen percent of small business owners said hiring and retaining quality staff is their top concern, up from 13 percent last quarter and the highest reading on this measure since the question was added to the survey in 2013. While hiring is a top challenge, 32 percent of business owners reported plans to increase the number of jobs at their business in the next year – the second highest percentage in the 14-year history of the survey. Other top concerns this quarter included attracting customers and finding new business (11 percent), taxes (11 percent), government regulations (11 percent), and financial stability/cash flow (8 percent).
“Hiring the workers they need has clearly become a more pressing issue for small business owners,” noted Mark Vitner, Senior Economist at Wells Fargo. “Labor markets have tightened around the country and many workers that had been employed part-time have moved on to full-time positions, making it particularly difficult to fill these positions right now.” Read more…
Many of our clients have expressed similar concerns. With year-end just around the corner, it is a good time to evaluate your processes coupled with staffing needs and utilize the tools available to streamline your tasks and increase productivity.