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.
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%
