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Pulse Survey

Employee Retention & Hiring

Hiring

This is a high-level summary of our key findings from the March 2013 Small Business Pulse Survey. This survey concentrated on Employee Retention and Hiring

 
  • Strategic employees are retained most effectively through "improved communication & culture"
  • When asked to describe their current experieince in retaining existing employees 65% of small business owners responded that it was easy to retain employees. 
  • All respondents surveyed agreed the most effective strategy for retaining existing employees is to "improve communication & culture"
  • Additional retention strategies include: "support flexible hours & work remotely", "increase performance-based compensation", "increase base total compensation","increase opportunities for training, continuing education and skill development". 
  • The biggest hiring challenge facing business owners is candidates "missing the necessary experience in our industry"
  • The most effective hiring channels for small business owners were through employee referrals, classified ads, LinkedIn, company website, or a professional recruiter. 
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Future Outlooks:

  • 72% of TAB members expect an increase in profits in the next year. 
  • 79% of TAB members expects their sales revenues to climb in the next year. 
  • 50% of TAB members will increase their hiring of full-time employees this year.
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