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Reliant Funding Releases Small Business Hiring Report for Summer 2018

Reliant Funding a leading small business finance provider today announced the results of the Small Business survey conducted. The study focused on different aspects of hiring challenges small business owners face.

Reliant Funding Releases Small Business Hiring Report for Summer 2018
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Complete Statistics from Small Business Hiring Report

Are Small Businesses Understaffed?

  • 71.75% said no
  • 28.25% said yes

Is it Hard to Find Qualified Employees?

  • 52.47% said yes
  • 47.53% said no

Where do SMB’s Search for Employees?

  • 31.07% use free job boards
  • 29.13% use employee referral program
  • 15.53% use paid search platforms
  • 9.71% attend career fairs to recruit
  • 7.77% hire a headhunter
  • 6.80% recruit through paid internship programs

Are SMB’s Planning to Hire Soon?

  • 70.85% said no
  • 29.15% said yes

Those who are hiring

  • 82.81% need permanent employees
  • 17.18% need temporary employees

And Here’s How They Compensate

  • 59.38% offer salary based pay
  • 28.13% offer wage commission-based pay
  • 12.50% offer minimum wage

How About a Raise?

  • 81.90% of SMB employees haven’t asked for a raise in past six months
  • 18.10% have asked for one

SMB Employees are Loyal!

  • 80.08% say no employees have quit in past six months
  • 19.91% say they have had employees quit

Those who quit – Here’s Why

  • 35.71% to leave the industry
  • 30.95% to pursue better pay
  • 21.43% to relocate

Competitive Pay

  • 72.38% of SMB’s haven’t offered higher wages to attract more qualified employees
  • 27.62% Have offered higher wages to attract qualified employees

Do SMB’s offer Perks? Most do!

  • 58.57% offer work schedule flexibility
  • 20.48% offer no perks
  • 12.38% offer the ability to work from home
  • 5.24% all of these
  • 1.90% unlimited time off
  • 0.95% offer sabbaticals
  • 0.48% daycare options

Plans for the Summer

  • 50.75% plan to host a BBQ/picnic for staff
  • 34.33% arrange volunteer events for staff
  • 14.93% organize sports teams

Demographic snapshot of those surveyed

Industry

  • Miscellaneous 34.08%
  • Service / Consulting related 31.84%
  • Retail Industry 8.79%
  • Construction Industry 7.62%
  • Healthcare Industry 7.17%
  • Restaurant & Bar Industry 4.93%
  • Transportation Industry 2.69%
  • Automotive Repair Industry 2.69%

Gender

  • 56.67% male
  • 43.33% female

Age

  • 18- 29 years 8.57%
  • 30-44 years 36.19%
  • 45-60 years 18.57%
  • >60 years 36.67%
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