Alexis S. Becker
Smarter people management is critical for post-pandemic success
Of all the issues keeping you up at night, there are two imminent threats that warrant attention. Leaders neglecting or deflecting them are likely exposing their organizations to significant and costly business disruption.
In part one of this two-part post, we’ll cover the ability to attract and retain high-quality talent in an ultra-competitive staffing marketplace. Every industry is affected with high turnover and reduced productivity, concerns about low profitability abound. While the undertaking is daunting, there are measures you can take to dissipate the frustration and create a more stable and successful enterprise.
The second, which we’ll cover in part two is vulnerable technology. This provides an opportunity for lucrative payouts from financially motivated cyberattacks. Between an ongoing global pandemic, worldwide political uncertainty, and economic instability, small and medium-sized businesses (SMBs) have become targets for sophisticated hackers looking for an easy hit. Fortunately, there are safeguards you can implement for better protection.
MAXIS® by Freed Maxick is a service for leaders seeking to perform smarter and operate more productively and profitably. While we know your day-to-day obligations are enormous, we advise elevating these two issues to help lead effectively, operate securely, and sleep better!
Staffing Challenges in 2022: The Struggle is Real
Every business, in every industry, in every geography is suffering. Dubbed The Great Resignation or The Big Quit, employees, dissatisfied with their work, are quitting in droves. The movement has generated a work shortage that has disturbed business and produced distressing financial implications.
The Department of Labor reported that 47.4 million Americans quit their full-time jobs in 2021, the highest annual number recorded in the United States based on data tracked over two decades. Specifically, per the U.S. Bureau of Labor Statistics (BLS), “Employment of bookkeeping, accounting, and auditing clerks is projected to decline 3 percent from 2020 to 2030.”
According to BLS, “Despite declining employment, about 170,200 openings for bookkeeping, accounting, and auditing clerks are projected each year, on average, over the decade. All of those openings are expected to result from the need to replace workers who transfer to other occupations or exit the labor force, such as to retire.” The National Federation of Independent Business found that 49% of 639 of the small business owners surveyed in December 2021 report they have job openings that they are unable to fill.
On top of that, the impending retirements of baby boomers has managers acutely aware of how valuable employees become over time, particularly those possessing certain skills and/or institutional knowledge. The desire to transfer proficiency and history from retiring employees is inching to the forefront of every manager’s mind. Resignations, retirements, and the inability to fill positions are leaving many employers seeking alternative, dependable ways to function.
What you can do to reduce your stress around hiring challenges:
Future Focused Accounting & Advisory Services
Whether supporting the proactive contributions of employees, automating systems for better efficiency, moving assets to the cloud, or helping to protect your brand, MAXIS brings expertise and insights that make us the ideal partner to deliver the highest levels of strategic leadership, consistent results, and extraordinary business value.
The legacy of the pandemic is that rapid transformation is the new speed of business. SMBs that aren’t staying ahead will fall behind — fast and far.
While timing and other factors can vary depending on the current state and complexity of the organization, our insights bring solutions to some of the most stressful situations. Interested in learning more? Contact Alexis Becker for a complimentary consultation at 716-847-2651 or email@example.com.