When hire, you make a significant investment in new talent.
But guess what? The employees you hire today for your small business may not stay around long.
The reason is simple. It’s a candidate’s market. And that has made job hopping FAR more common. So what can you do to retain your best employees? Read our story below in the employment section for more.
You’ll also want to read about Square’s new Assistant tool and how it uses AI to help businesses just like yours.And check out our guide to the best small business phone systems of 2o20.
Read these stories and many more in our Small Business Trends news roundup below.
Employment
75% of Your Employees May Not Plan to Stay for More Than 5 Years
A survey by iHire revealed the latest 2019 employee retention statistics. This includes the fact that 75% of employees in the U.S. do not stay at their jobs for more than five years. The finding indicates job-hopping is becoming far more common. It was once a liability. But not in today’s candidate-driven labor market.
62% of Accountants Feel Underpaid
An estimated 62% of accountants in America feel underpaid. That’s reported by a survey conducted by Fishbowl. The company surveyed 4,708 from across many industries. The study showed more than 60% of professionals feel under-compensated given their qualifications and level of experience. Professionals Feel Underpaid Accountants came second following advertising and PR professionals.
Technology Trends
Square Assistant Uses AI to Manage Appointments with Your Clients
Square Inc, has unveiled its AI-enabled automated messaging tool, Square Marketing Assistant to help customers manage appointments. The messaging application allows you to confirm, cancel, or change appointments without any action needed from businesses.
Best Small Business Phone Systems for 2020
There’s never been a better time to upgrade your business phone system. People can’t remember their landline number anymore. That’s why it’s important to pick the best alternative for your business. The only downside? It can be overwhelming since there are dozens of providers to choose from.
Retail Trends
How to Reduce Ecommerce Returns
Ecommerce returns are on the rise and with the holidays approaching, the number of returns will swell even more. If you’re a small retailer, you know how quickly too many ecommerce returns can eat into your profit margins. Try these tips to reduce the number of returns from online shoppers in a way that benefits both your bank account and your brand image.
13% of Shoppers Never Come Back If Their Delivery Isn’t On Time
The latest retail delivery statistics show that consumers now want fast deliveries for the products they purchase. If you are not able to deliver goods on/before the expected time, your store will continually lose a good number of customers. According to a consumer study by Oracle Retail, 13% of consumers would never order from the retailer if the delivery is late.
Sales
How Do I Break Through a Sales Plateau?
A reader from Sarasota asks: “We have been in business for over 10 years. It’s a family business with my son in it, and I’d like to bring my adult daughter into the business. However, sales growth has stalled for the last two years, and there’s barely enough to pay my son, our three employees and myself a salary.
Small Biz Spotlight
In the Spotlight: FATbit Weighs in as Major eCommerce Solutions Company
It takes a lot of creativity and innovation to last for more than a decade in the tech industry. As a result, a ton of companies have come and gone in the industry over the past several years. However, FATbit isn’t one of them. Instead, the company has been able to evolve with the needs of businesses and customers.
Social Media
71% of Instagram Influencers Don’t Call Themselves That
If you’re struggling to spot Instagram influencers for your influencer marketing campaigns, then it’s time to change your approach. This is because most influencers have had it with the term ‘influencers’. Creator or Influencer? According to The 2019 Influencer Survey, 71% of Instagram influencers don’t actually call themselves influencers.
Startup
Learn The Art of Business Networking and Make New Connections
Business networking is a fun time — mingling, eating, chatting about business. But do you walk away with solid connections? Many business owners attend networking events but don’t utilize the time or crowd as well as they can.
10 Businesses with Strong Early Cash Flow
Cash is what fuels your business, so mastering cash flow is a key challenge for all businesses. In any business venture cash flow is among the most important pillars for the success of your enterprise. Early cash flow can come in handy as it helps cover things that allow your business to operate.
Startup Ideas that Began Small and Got Big
Entrepreneurs are pioneers that look to create solutions to address the needs of their customers. Launching your own startup business requires a leap of faith and might be long and risky. Those who have found their niche, focused on innovation, planned for their growth, collaborated and had a little bit of luck have succeeded.
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