In July, small businesses showed signs of improvement in the labor market, with 33% of owners reporting unfilled job openings, the lowest level since December 2020. Despite this progress, the figure remains above the historical average, indicating ongoing challenges in attracting qualified talent. NFIB Chief Economist Bill Dunkelberg emphasized the difficulties small business owners face, with 84% reporting challenges in finding suitable candidates even as hiring efforts continue. Variations in job openings across sectors, particularly in construction and transportation, highlight differing labor demands. Additionally, while some owners adjusted compensation practices, with a net 17% planning to increase wages soon, managing labor costs remains a priority. Despite these hurdles, there is optimism for growth, with a net 14% of business owners aiming to expand their workforce in the upcoming months. This report underscores both the advancements and the persistent challenges small businesses encounter in the evolving labor landscape.
#SmallBusiness#LaborMarket#HiringTrends#NFIB#JobOpenings#WorkforceDevelopment#BusinessGrowth#CompensationTrends
Join us May 12 at 1 PM ET for insights on 2025's HR & compensation trends with Minde Stone & Amy Stewart from Payscale! Learn how top companies are reshaping pay.
Register here: 🔗ow.ly/eSnz50VLA5R#CompensationTrends#LaborMarket
Good Leaders Shape Strong Workplace Cultures!
A healthy workplace culture isn’t just a bonus - it helps companies succeed. SHRM highlights how leadership plays a key role in creating and maintaining that culture. But how can you be sure you’re hiring leaders who will actually strengthen it?
The answer is simple: hire the right people. Leaders who reflect your organization’s values help build trust, responsibility, and teamwork. But many companies make hiring decisions based on first impressions instead of real performance.
At Topgrading, we’ve seen how honest, thorough hiring can improve entire teams. By reviewing a candidate’s full work history and speaking with their past managers, you can find leaders who don’t just talk about culture - they show it in their work.
Bottom line: Hire leaders who match the culture you want, and your company will grow stronger.
How do you build and maintain an amazing company culture? Share your thoughts in the comments!
Read the full article here: hubs.la/Q035x7sz0
Contact us.
hubs.la/Q035x90s0#Topgrading#Hiring#CompensationTrends#HR#TalentManagement#HiringHighPerformers#Leadership#FutureOfWork#SoftSkills#AI#ArtificialIntelligence
Salary Trends in 2024 and What to Look Forward to in 2025
The 2024 salary trends in Zimbabwe reveal a dynamic shift in compensation practices. Basic salaries constitute 63% of total remuneration, while allowances make up 37% (split into 43% direct and 57% indirect allowances). The most prevalent benefits are medical aid (72% of companies), pension (78%), and housing allowances (70%). Organizational size plays a significant role in compensation structures - 61% of surveyed companies have between 1-200 employees, while 48% report monthly wage bills below $300,000.
2025 Indicators: Based on the current compensation structures documented in the report, 2025 is likely to see continued emphasis on comprehensive benefits packages. The prevalence of medical aid, pension, and housing allowances across sectors suggests these will remain core components of compensation packages. The report's sector-by-sector analysis shows varying approaches to compensation, with quasi-government, banking, and financial services each maintaining distinct patterns in their total cost of employment structures. These established sectoral differences, clearly documented in the survey data, are likely to persist into 2025.
And one more thing: as you move into 2025, we have heavily discounted our latest 2024 salary survey reports. For a quotation, email ipc@ipcconsultants.com
#CompensationTrends#ZimbabweanEconomy#WorkforceTrends@ipcconsultants
Thinking about your company, has the shift to hybrid work had a noticeable impact on compensation and incentive packages? #compensationtrends#hybridwork
Check out @PilotHQ 2023 Founder Salary Report - it includes ranges, averages, and distributions for 750 founder salaries, plus salary analysis by company size, funding level, and geo.
I hope it provides a useful resource for you as you discuss your own compensation plan with your business partners and investors.
I'd like to stress this: deciding your own salary as a founder is not as simple as picking a number. Market comparisons certainly have their place, but the ultimate question is deeply personal: How much do you need to earn to dedicate all your attention and energies to the success of your business?
If you underpay yourself, you might end up diverting a significant amount of your mental resources towards worrying about making ends meet or affording childcare, thus detracting from the time and energy you could be devoting to your business.
So, in essence, the right salary for you (provided your company can accommodate it) isn't a precise sum; it's whatever amount allows you to solely concentrate on nurturing and growing your successful enterprise.
#Entrepreneurship#Startupworld#CompensationTrends#FounderSalaryReport#DataDrivenSuccess#JoinTheConversation#founders#startups
Get the report: pilot.com/report/founder-sal…