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Small Business Success Index 5

Index Score*   Grade
SBSI INDEX 73 C- marginal
Capital Access 67 D+
Marketing & Innovation 65 D
Workforce 76 C
Customer Service 88 B+
Computer Technology 75 C
Compliance 92 A-
*Index score is calculated on a 1-100 scale.
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More Americans Willing to Move for New Jobs

February 3rd, 2012 ::

By Rieva Lesonsky

Are you looking for new employees? Well, don’t feel your search is limited to those in your own backyard. I’m not talking about virtual employees or outsourcing, either: A new study by CareerBuilder of workers nationwide found nearly half (44 percent) of respondents would willing to relocate for a career opportunity. In fact, CareerBuilder says that off laid-off employees who found jobs in the past year, 20 percent relocated to do so.

At the same time, more employers are struggling to find skilled workers–and are willing to pay to import talent to their city. Thirty-two percent of employers in the survey said would be willing to pay to relocate new employees this year; 19 percent would pay a smaller first-year salary so they could give a relocating employee a signing bonus.

Which types of workers are most in demand? The top areas for which workers were most willing to pay to relocate employees all relate to technology or to revenue-generating jobs:

  • Engineering – 30 percent of employers
  • Information Technology – 23 percent
  • Business Development – 21 percent
  • Sales – 21 percent
  • Financial – 16 percent
  • Marketing – 13 percent
  • Legal – 11 percent

If you’re looking for workers out of your area, you might want to check out CareerBuilder’s new site, CareerRelocate.com, which targets workers who are seeking employment outside of their area. Employers can post jobs and find candidates. Job candidates can search by keyword or category search to see where the most and fewest opportunities are for their skills; view jobs in different cities; compare salary averages and standard of living in different cities; and research homes, property values, mortgage quotes and moving and storage costs.

More than three-fourths of workers who relocated in the last year said they didn’t regret the decision. But if you’re planning to hire workers from outside your area, you should be aware of the top problems workers cited with relocating:

  • Cost of living is higher – 26 percent
  • More stress on the family unit – 24 percent
  • Difficult to make new friends – 18 percent
  • Feeling homesick – 16 percent

Knowing what issues your new employee is dealing with can help you be proactive in supporting them so they feel valued and welcome at your company.

Image by Flickr user Marxchivist (Creative Commons)

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Posted in Small Business, small business, Workforce | 2 Comments »

Small Biz Resource Tip: Jobvite

January 25th, 2012 ::

Jobvite

Job recruiting by social media is the latest trend, and social media tool Jobvite allows you to source and weed through referrals, social networks and the Web to find your perfect candidates. The Web-based structure also allows you to do things such as check and track referrals from your smartphone so you don’t miss out on a prime prospect. Search hundreds of sites for potential employees, post job openings on your company’s Facebook page, and make it easy to allow current employees to refer their friends and associates. Then check your personalized dashboard to see what recruiting methods are working the best for you.

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Posted in Resources, Small Business, small business, Workforce | No Comments »

Good Ecommerce Help Is Hard to Find

January 25th, 2012 ::

By Rieva Lesonsky

Are you having trouble finding employees to run your ecommerce site? You’re not alone. While the nation faces widespread unemployment, qualified ecommerce employees are not among those looking for work, according to Forrester Research data reported by Internet Retailer.

The Forrester report Trends 2011: Staffing and Hiring For eBusiness found that a whopping 83 percent of e-commerce businesses lack adequate staff; just 17 percent say they have all the employees they need.

The situation is going to get worse before it gets better, Forrester cautions. With more companies getting involved in ecommerce, the demand for experienced ecommerce employees is only going to increase.  “The supply problem is simply an issue of time,” the report notes. “E-business has not existed for long enough to produce many employees—especially good ones.”

What area is the most challenging? Nearly two-thirds (64 percent) of respondents said they have the most trouble hiring customer experience workers. Forrester theorizes that’s because these types of workers prefer to work for advertising/marketing agencies, where they can work with a wider range of clients and get more experience.

Another tough market exists for companies seeking business analysts; 53 percent of respondents said it’s hard to find this type of worker. A good business analyst has experience in both business and data collection, which can be difficult to find and costly to hire.

While developers and engineers are not as difficult to find, ironically, the most competition for these workers is in tech-centric regions such as the Silicon Valley. Smaller companies have difficulty competing against big companies like Google or Facebook with their perks, prestige and opportunities for advancement.

So how can you find qualified ecommerce workers? Forrester suggests three steps:

  • Use outside recruiters with specific ecommerce recruiting expertise. Finding the right candidates from the beginning can save you time and headaches.
  • Be ready to pay. The cost of ecommerce employees is not going down anytime soon, so don’t expect to get these workers cheaply. Glassdoor and PayScale are two sites Forrester suggests using to benchmark compensation in your region and industry.
  • Mentor employees. Once you get some good ecommerce workers on your team, having them mentor younger workers can help build your “bench” so you don’t have to go outside the company to hire quite as often.

Image by Flickr user Daniel Broche (Creative Commons)

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Posted in Small Business, small business, Technology, Workforce | No Comments »

Small Biz Resource Tip: Knoodle

January 18th, 2012 ::

Knoodle

If you need to create a training program for employees or customers that incorporates PowerPoint, videos, voice-overs, surveys and more, consider Knoodle. With Knoodle you can create customized presentations to engage your audience and interact as much or as little as you want. Consider doing your online training with Knoodle or even creating an HR presentation for new hires. Your Knoodle sales presentations will stand out, and you can also add a social element with chat boxes for anyone who might have a question or comment. Plus, real-time analytics let you know if your message is getting through.

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Posted in Business Development, Resources, Sales Process, sales process, Small Business, small business, Technology, Workforce | 1 Comment »

6 Work Force Trends for 2012

January 12th, 2012 ::

By Maria Valdez Haubrich

What changes can you expect for your work force this year? The Herman Group has issued its annual forecast, which predicts that 2012 will be much like 2011 due to prolonged economic challenges. Here’s a closer look at some of the key trends:

1. Recruiting will intensify among smaller employers. Herman Group believes that while many small and midsized companies will add staff, others will try to hold off until the 2012 election outcome is decided.

2. Bad news if you’re looking for skilled workers: Despite high unemployment (over 7.25 percent throughout 2012 in all parts of the country), it will be harder than ever to recruit experienced people. As a result, more communities will realize there is a critical need for work force development if they are to grow economically, and will work to provide the training candidates need to be successful.

3. Companies will use social networks not only in recruiting, marketing and public relations, but also in training and development, and even in succession planning. Bigger companies will increasingly use social media for internal communications.

4. A growing number of unemployed people will become consultants or personal coaches, and more executives will turn to coaching to fulfill their potential. Continuing a trend from the past few years, more companies will “rent” the talent they need instead of hiring.

5. Big companies, in particular, will continue to reduce staff to optimize productivity and profitability. However, smart companies will realize that reducing staff too much will hurt employee engagement, and will pull back before disengaged workers start to affect the bottom line.

6. An escalating regulatory environment in the U.S. means employers need good legal advice more than ever to avoid costly problems and errors. If you don’t already have legal help in place, now is the time to engage it.

What changes are you seeing in your work force? What challenges are you facing?

Image by Flickr user Daniel Ramirez (Creative Commons)

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Posted in Small Business, small business, Workforce | No Comments »

Employees Have Mixed Feelings About 2012 Outlook

January 5th, 2012 ::

By Maria Valdez Haubrich

How are employees feeling about their employers these days? Well, it seems like the gap between the 99 percent and the 1 percent isn’t the only growing divide these days. The gap between highly engaged employees and those who are “checked out” (or disengaged) from their jobs is widening, according to The Randstad Employee Attachment Index.

The Index found that while overall, many employee attitudes held steady from last quarter’s Index, there’s a large divide with half of employees feeling very positive about their jobs and their workplace, but the other half extremely worried about losing their jobs. To hold onto their jobs, 24 percent are willing to take pay cuts or work longer hours.

Here’s the good news about employee attitudes:

78 percent feel inspired each day to do their best in their jobs.
69 percent enjoy going to work every day.
64 percent believe their efforts at work are recognized and valued.

Now, the bad:

19 percent feel it is likely they will lose their jobs.
Almost a quarter (24 percent) of workers say it is likely they will get a pay cut.
76 believe it is unlikely they will receive a promotion.

“With the continued ups and downs of the economy, U.S. workers report very mixed expectations for 2012,” said Joanie Ruge, senior vice president and chief employment analyst for the staffing firm, in announcing the survey. “Many [workers] are taking precautions such as cutting back on expenses and putting more towards savings just in case.”

While some employees are worried, others have high hopes. Almost half (46 percent) think the job market will improve in 2012. And when it does, 47 percent plan to explore other opportunities. The risk is especially strong with highly engaged workers, of whom 24 percent say they plan to seek a new job in the next 6 months.

“Companies … need to particularly focus on those workers who are most engaged and, thus, most valuable,” says Ruge. “Our research shows that 33 percent of the most highly engaged employees are likely to leave their companies if offered an enticing new job while 30 percent would seriously consider another job offer. This is a serious threat to employers as the economy recovers.”

What are you doing to make your best employees feel valued and keep them on your team?

Image by Flickr user Scott Anderson (Creative Commons)

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Posted in Small Business, small business, Workforce | 1 Comment »

Financial Execs Have Bleak Outlook for 2012

January 3rd, 2012 ::

By Karen Axelton

How’s the economic outlook for 2012? According to U.S. financial executives polled in the the latest Bank of America Merrill Lynch CFO Outlook survey, not too good.

Just 38 percent of those surveyed in the annual poll said they expect the U.S. economy to expand in 2012, down from 56 percent in last year’s survey and 66 percent in 2009. The CFOs now give the economy a score of 44 out of 100, down from last year’s score of 47 and equal to the lowest score in the survey’s 14-year history.

What specific expectations do CFOs have?

  • Some 56 percent expect revenues to grow in 2012, a decline from 64 percent last year.
  • Forty-one percent anticipate growth in profit margins, down from 55 percent last year.
  • Just 18 percent of CFOs expect to participate in a merger or acquisition in 2012, down from 26 percent a year ago.

What are their big concerns for 2012? Topping the list was the effectiveness of U.S. government leaders, cited as a concern by 70 percent of executives in the survey. Other major worries:

  • The U.S. budget deficit: 63 percent
  • Healthcare costs: 60 percent
  • Unemployment: 58 percent
  • Consumer confidence: 55 percent

When it comes to their own companies, the financial concern was healthcare costs, chosen by 56 percent of CFOs. Other top worries were energy costs and consumer confidence, both at 43 percent; cash flow at 42 percent; and revenue growth at 40 percent.

There is some good news in the survey. First, in spite of their pessimistic outlook, just 7 percent of respondents said they expect layoffs at their companies; 48 percent plan to maintain the same number of employees, and 46 percent said they expect to hire.

Another good sign: CFOs were more likely than last year to say lenders have expanded the amount of capital available to them. In addition, just 21 percent expect their cost of capital to increase, down from 27 percent last year.

How do these responses jibe with what you’re experiencing in your business?

Image by Flickr user Mykl Roventine (Creative Commons)

 

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Posted in Capital Access, Raising Capital, Small Business, small business, Workforce | No Comments »

Small Biz Resource Tip: GPS Punch

December 29th, 2011 ::

GPS Punch

Want to keep track of your employees’ whereabouts? Need to make sure your salespeople are using their time on the road efficiently? GPS Punch is a new app available on iTunes that tracks your employees’ locations through their phones’ GPS system. Employees log on and then keep a record of what they’re doing at any given moment, such as “taking a break” or when they begin or end a task. While it might sound kind of “Big Brother,” that’s not the only purpose. By monitoring how employees spend their time, you’ll know whether certain clients or tasks take longer and you can adjust employees’ schedules accordingly.

 

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Posted in Resources, Small Business, small business, Technology, Workforce | No Comments »

What Bait Will Attract and Keep the Best Employees in 2012?

December 29th, 2011 ::

By Karen Axelton

Are you looking to hire new employees in 2012, or at least hoping to keep the ones you’ve got satisfied? Then you’ll need to know about the latest trends in hiring and compensation in order to lure new workers to your company and retain existing ones. A new survey by Robert Half International has some good news for employees about what to expect in 2012, but it may not be such good news for employers.

First, raises are coming back. (That’s the bad news for employers.) According to the study, the average starting salary is projected to increase by 3.4 percent in 2012. Perhaps not surprisingly, high-tech employees will enjoy the biggest average increase (4.5 percent), but they won’t be the only ones with fatter paychecks in the coming year. Here’s how some other industries’ average starting salaries will stack up in 2012:

  • Finance and accounting (3.5 percent)
  • Creative and marketing (3.5 percent), and
  • Administrative and office support (3.4 percent).

“Companies are restoring raises, though they remain moderate,” the survey reports. “Still focused on keeping expenses down, many businesses have yet to reward employees to the extent loyal workers feel is justified. In turn, employee frustration and the risk of voluntary turnover has risen.”

To help retain employees, firms are using perks as well as salary to keep workers happy. The most popular perks?

  • Subsidized training/education (29 percent)
  • Flexible work hours/telecommuting (24 percent)
  • Mentoring programs (24 percent)
  • Matching gifts programs (13 percent)
  • Free or subsidized meals (11 percent)
  • On-site perks, like child care, dry cleaning (11 percent)
  • Subsidized transportation (10 percent)
  • Subsidized gym memberships (9 percent)
  • Sabbaticals (8 percent), and
  • Housing/relocation assistance (7 percent).

I think it’s interesting that two of the most popular perks—training and mentoring—benefit employers as much as, or more than, they benefit employees. In fact, training’s popularity may be not so much out of altruism as necessity. Robert Half reports that the market for skilled professionals is more competitive than it has been in several years, with shortages of some types of skilled workers. As a result, if you don’t move quickly to snap up a good job candidate with a good offer, you’ll likely lose out.

What does it take to attract and retain workers in this environment? Robert Half offers three tips:

  • Make sure your compensation package is competitive.
  • Make sure top performers feel appreciated and know they have career potential with your business.
  • Offer in-demand incentives—training and flexibility are the most desired perks for employees today.

You can download the detailed report at the Robert Half International website.

Image by Flickr user Podknox (Creative Commons)

 

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Posted in Small Business, small business, Workforce | 1 Comment »

The New Risk to Your Business From Employees’ Social Media Use

December 28th, 2011 ::

By Rieva Lesonsky

I know you’ve heard about the risks to your business’s reputation from employees using social media irresponsibly. Whether it’s an employee who gives a flippant response on your company’s Facebook page, accidentally reveals future business strategies or posts criticism of your company on his or her own personal accounts, there are many ways social media can go haywire. But now there’s a new worry: Employees who run social media accounts for your business could quit your company—and take their “followers” with them when they enter competitive businesses.

CFO.com recently reported on a California case in which an employee who managed a company Twitter account left the company and took the account—and its 17,000 followers—with him. (He just switched the account into his own name.) The company valued the followers at $42,000 and sued the ex-employee for stealing company property and causing “damages to its business, reputation and goodwill, including lost users and user opportunities.”

A federal court denied the employee’s motion to dismiss the suit, which is moving forward. However, the company has some hurdles to jump to prove its case. First, they’ll have to prove they owned the account and went through the proper measures to protect it, such as keeping the password confidential. They’ll also have to prove the monetary value of the account.

With social media being such an informal mode of marketing, it’s easy to see how this type of situation could arise. You have an employee start a Facebook or Twitter account, he or she gets good at it and catches on—and you never put anything in writing as to your ownership of the account or restrictions on it. CFO.com notes that social media can now be considered part of a company’s “goodwill” and, as such, needs to be valued and protected like any other form of goodwill.

CFO.com suggests three steps to protect your business from such a situation:

  1. Review all the social media accounts your company uses and which employees manage them.
  2. Update your written social media policies (you do have them, right?) to reflect your ownership of the accounts and set parameters.
  3. Finally, regularly monitor and measure the ROI on your social media accounts to that, if worse comes to worst, you’ll be able to put a monetary value on the accounts.

Your own attorney can give you specific advice on protecting your accounts. As social media becomes an ever more important part of a small business’s marketing mix, cases like these will only grow in number. Take the right steps to make sure you never find yourself in the middle of one.

Image by Flickr user David Drexler (Creative Commons)

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Posted in Business Law, Compliance, Marketing, Small Business, small business, Social Media, social media, Technology, Workforce | 1 Comment »

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