?? Small Businesses’ Freeze Hiring Woes
Outsource Accelerator
The world's leading outsourcing marketplace and advisory.
Welcome to Gone Global, a look at the top stories and insights on remote work, global employment, distributed teams, outsourcing, and the future of work.
This is a condensed version of our flagship Gone Global newsletter.
OPINION
Small businesses are feeling the pressure
Small businesses are on a hiring freeze which could cause an economic downturn.
A National Federation of Independent Business survey of small-firm hiring intentions is clinging near its lowest level since the COVID-19 outbreak. Additionally, the latest U.S. survey of business input prices shows a decline in costs paid by staffing services while the share of temporary jobs in the overall labor market has also fallen.
Experts claim these data show that small businesses are feeling the economic pressure, pushing them to cut back on investment and hiring. The declining use of staffing is a critical sign of an economic slowdown.?
Pandemic hiring frenzy
Just a couple of years ago, small firms took advantage of the heady low interest rate environment to welcome new employees to chase continued growth. Post-pandemic, as interest rates have shot up and cash and new debt supplies dwindle, firms are now facing a financial reckoning.
Many have resorted to a hiring freeze, which is the first stop for managing finances and taming budgets. It is a response to unpredictable market conditions or liquidity concerns and a tool for preventing the firm from laying off employees.?
Hiring freezes across an economy can work as a short-term measure; however, if prolonged, they put pressure on current employees to cope with compressed workflows. Employees are inevitably pushed to do tasks that aren’t theirs, which can lead to work overload, stress, and an eventual drop in productivity and employee morale.
As the reduced workforce juggles multiple tasks at once, the firm’s innovation rates drop. Its workforce is so occupied with present tasks that they have no time to look ahead.
Luckily, there is a solution…
TOP OFFSHORE TALENT
Bookkeeper
Asking: $12,000/yr
领英推荐
Save $41k/yr vs. typical U.S. salary!
??? Meet Fissan…
Fissan is a skilled bookkeeper who loves meeting people and helping them manage their businesses through bookkeeping and tax filing. ???
Her dedication ensures that clients' financial records are always accurate and up-to-date, allowing them to focus on growing their business.
Her greatest accomplishment at work is being promoted to Accounting Manager. ?? This promotion highlights her expertise, leadership, and commitment to excellence.
Fissan’s enthusiasm for helping businesses thrive and her love for meeting people make her a valuable asset to any organization. ??
We reckon she would be an excellent addition to your team at an asking salary of $12,000 /year.?
Fissan is looking for her next career move. Worth a chat? Read her full bio and get in touch.
Get ten impressive candidates every week, all at pretty cool rates! Subscribe here.
OFFSHORE & GLOBAL NEWS
Hottest takes from offshore staffing, remote, and the future of work!
RTO Mandates: Losing Top Talent or Boosting Productivity? ??
Despite the risk of losing skilled talent due to return-to-office (RTO) mandates, 1 in 4 companies plan to increase the required in-office days for employees by 2025, according to a Resume Builder survey.?
In fact, 45% of companies stand firm and will keep their current RTO policies unchanged, and 25% intend to increase in-office days, citing productivity and culture improvements. The majority, or 93%, of business leaders believe employees should be required to work from the office, while only 7% support flexible work setups.?
Companies are going the extra mile to facilitate the office transition, offering a range of incentives such as commuter benefits, pay raises, catered meals, social events, and childcare benefits. On the other hand, 1 in 4 top execs admitted to using RTO to quietly trim the workforce through voluntary resignations.
Here’s what else to know today: