The Herman Trend Alert|
September 9, 1998
Keeping Good People Expected to be the Major Challenge for Small Business in the Coming Year
Recently, we were not surprised to see the results of still another study on what keeps business owners awake at night. Conducted by Dun & Bradstreet, this study found that this year, small business owners consider finding good people their biggest problem. Second, this year, is the costs of providing health benefits and third is retaining good workers.
When asked about their prospects and problems for next year, business owners shuffled the deck: Retaining good workers, keeping good people was #1.
Expect this trend to continue and intensify as the shortages of good workers spread to cover the whole country. We currently have many pockets of less that 1% unemployment. In the coming years, the economy will continue to thrive and we expect the worker shortages to become even worse.
Wise employers will take steps now to "bond with" quality employees (internal customers), appreciating them as much as (or even more than) valued external customers. With quality of work and personal life issues so paramount in people’s minds, more employers (large and small) will come to realize that money is really not the primary driver to employee satisfaction.
For a FREE copy of our new newsletter, the Workforce Stability Alert, edited by Joyce and Roger, FAX to 800-969-7761 or send e-mail to firstname.lastname@example.org.
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