Improving Productivity a Key Focus for Small Business: Survey
In addition to these challenges, here are some other issues that small business owners face:
- 41% say that attracting quality employees to join the business is challenging.
- 33% say they struggle with developing employees to be able to contribute at higher levels.
- 33% say that keeping employees focused on what's most important for business is difficult.
"Being in charge of a small business comes with time-consuming people management and HR administration that can drain productivity," said Melissa Ness, professional employer organization director at Oasis. "Administering payroll, complying with employment regulations, and offering competitive health benefits are specialized skills that require time and resources. These tasks can be a distraction from the work that needs to get done in acquiring customers and growing the business."
According to 31% of the business owners surveyed in the study, these kinds of tasks take about a quarter of all work time. Another 39% said that they spend too much time on workforce-related issues, though 83% said they think the time spent on HR and workforce issues is a good investment.
Small business owners acknowledge they would consider seeking help from outside resources for "attracting quality employees to join our business" (49%). Another 34% would ask for help with "improving productivity and efficiency,” while 27% would want help with "employee retention and engagement."
About the Study
More than 300 small business owners were surveyed in this study. Most of the businesses (89%) were privately owned and had between 10 and 99 employees. Most reported revenues over $1 million (57%), and a wide range of industries were presented. Nearly 70% had just one location. The interviews were conducted online, and they took place between February 11 and 18, 2019. A National Web Panel by SSRS, a research company was used to complete the research.
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