Fall 2022 Industry News and Trends
The Impact Of Inflation On Small Businesses And How To Manage It
With inflation soaring to a 40-year high and no-one able to predict how much higher it could reach or how long it will last, every business owner needs to understand how this economic reality could affect their operations.
Read this Forbes article to find out how inflation is changing business realities and get tips on how to mitigate the impacts.
Bosses Swear by the 90-Day Rule to Keep Workers Long Term
Amid record employment levels and overwhelming demand for workers, companies in virtually every industry are struggling to hold on to their workers. According to the research, the key is to focus on the “magic window”: If companies can keep a worker for 90 days, they are far more likely to stay for the long haul.
Read more to find out how companies are successfully retaining workers by issuing retention bonuses, assigning them a “buddy,” and even hiring onboarding coordinators.
What Is a Churn Rate and How Do You Measure It?
Many businesses are focused on the acquisition of customers or talent as a means of gauging their ability to grow sustainably. But no matter how successful you are at attracting customers and employees, your business can’t grow unless you hold on to them. That’s why every company needs to know how to calculate churn rate—the rate at which it loses the customers or employees it has worked so hard to acquire.
This article from the U.S. Chamber of Commerce explains how your business can calculate churn and why keeping an eye on churn metrics can help you boost growth by identifying problems sooner.
Authentic Leadership and the Future of Staffing
As staffing companies face the challenges of rapid growth, the role of the staffing CEO has never been more important. This interview with Rishabh Mehrotra, CEO of Avionté, a staffing technology company, highlights the characteristics that staffing business owners need to cultivate in today’s world of work.
Read this SIA article to see how authenticity and situational leadership skills can help leaders navigate market volatility, remote work, and other trends impacting the staffing industry.