As 2021 drew to a close, the average hourly wage at small businesses locked in at $30, according to the Paychex IHS Markit Small Business Employment Watch.
The December data shows hourly earnings growth improving to 4.27%, which is the highest level since Paychex began reporting 10 years ago.
Hiring at small businesses also closed 2021 on an optimistic stat, improving 7.31% from the prior year, according to the same report.
Hourly Wages at Small Businesses Hit Record Level in December
Paychex CEO Martin Mucci summed the stats.
“Employers are responding to the pressure of the tight labor market by raising wages, and workers are benefitting,” Mucci said.
Not all timeclocks are compatible with every time and attendance system, so the one you select may be a factor in the system you end up using.
- Timeclocks help business owners maximize employee productivity and minimize time theft.
- Types of timeclocks include punch cards, RFID, password, biometric, IVR and mobile.
- You can have your tablets and access control systems double as timeclocks as well.
- This article is for small business owners searching for the right timeclock for their staff.
Each year, U.S. employers lose $11 billion to time theft. Much of this comes from employees stealing a few minutes each day, which can be prevented with a comprehensive time and attendance system.
As the number of available time and attendance solutions grows, there’s no shortage of timeclock options for your business. You can select either a stand-alone timeclock or a time and attendance system that includes timeclock features. It depends largely on your business and what you feel makes the most sense for monitoring your employees.
More than half (55%) of small businesses say providing health insurance to employees is the biggest challenge they face.
Providing adequate healthcare cover comes ahead of Covid challenges, taxes, and competition from large corporations.
This was the finding of Small Business for America’s Future national survey of small business owners. Small Business of America’s Future is a national coalition of business owners and leaders. The coalition’s aim is to provide small businesses with a voice at each level of government. Its recent national survey asked 827 small business owners their opinions on the cost of health and potential solutions to bring down these costs.
President Joe Biden announced Monday that he’s putting in place new rules for the PPP loan program that gives exclusive access to it to Main Street mom-and-pop businesses.
These smallest of small businesses, he said, haven’t gotten a fair shake at aid programs designed to help keep companies from going out of business during the pandemic.
“Small businesses are getting crushed,” Biden said. “Since the beginning of this pandemic, 400,000 small businesses have closed. Millions more are hanging by a thread.”
According to a study by Wolters Kluwer Legal & Regulatory 25 states will raise their minimum wage in 2021, with 21 of those states enacting the increases on New Year’s day.
By the beginning of the New Year, New York and Oregon, which both have regional minimum wage rates, will see the highest wages reaching $15.00 in New York City and $14.00 in the Portland Metro Area effective July 1, 2021.
At the end of the spectrum, the lowest minimum wage rates of $5.15 are in Georgia and Wyoming. However, most employers and employees are subject to the higher federal minimum wage rate of $7.25 per hour.
Content marketing is widely successful for generating new leads and attracting new customers to your business. A full 70% of companies say they invest in content marketing strategy, and 60% say that content marketing is very or extremely important to their overall business strategy.
How to Make Content Marketing Work for Your Small Business
But successful content marketing requires more than simply starting a blog and posting on social media. You need an effective strategy that connects up all your content marketing efforts, and that’s far more challenging. Many marketers still aren’t handling it efficiently, with one study reporting that only 23% of marketers agreed that they are succeeding at managing content across the organization.
If you’re part of the remaining 77%, don’t panic. We have some essential tips for boosting your content marketing strategy.
Problems with Free Accessibility Plugins
A 2018 statement by the Department of Justice confirmed that ADA requirements to make your business accessible to customers with disabilities applies to your internet presence as well as your physical stores. Recent headlines about the Supreme Court ruling against Domino’s Pizza for running an app that can’t be used by blind pizza-lovers only underlined the importance of this issue.
Web accessibility should concern every small business owner
Web accessibility isn’t just for the big fish to worry about. Disability activists, tired of waiting for companies to comply with web accessibility guidelines like WCAG 2.0, are increasingly sending lawyer demand letters and initiating lawsuits against small businesses that have an online store or simple web presence that doesn’t comply with ADA title III requirements for web accessibility.
The tariffs the Trump administration is about to impose on wine, liquor and cheese from Europe couldn’t come at a worse time for small retailers.
“It’s kind of scary in the sense that we’re getting to the holiday season,” says Joseph Kakos, owner of Kakos Fine Wine & Spirits in Birmingham, Michigan. “October, November and December are the time when you really make your money for the year.”
No one expects consumers to completely abandon Bordeaux and other wines from France, Scotch whisky or cheeses like Parmesan or Roquefort when the 25% tariffs take effect Friday. Still, Kakos says, shoppers may turn price conscious just as shelves are well-stocked for the holidays.
A wide range of new technologies are making it easier than ever to start and run a small business. From online businesses to local businesses to solopreneurs enterprises like freelancing and consulting, there is no shortage of ways to avoid the corporate rat race. Here are 5 types of technology that will have an impact on the future of small business.