How to Deal With Staffing Problems in 2022?
Approaching the 4th year of the pandemic, Canadian businesses are struggling to secure not only enough employees but the right ones. HR departments and head-hunters are struggling to hire and retain employees for a number of reasons.
What is causing the staffing problems?
As you know, talent shortage is one of the main difficulties facing employers. According to Statistics Canada, companies have had greater difficulties filling over 1M vacant positions in 2022, which is an increase of 60.5% over 2021. The increased competition has also been a problem for many businesses who did not plan or do not have the capital to attract new talent with higher salaries and signing bonuses.
Another difficulty entrepreneurs and their HR teams are experiencing in 2022 is retaining high performing employees . While pay is still the top motivator for employees to stay or leave, it takes more than just pay to retain staff. Employers need to work on their brands, opportunities to work from home or hybrid, and other motivators more than ever.
What are some of the effects staffing issues have had on small to medium sized businesses, and of course their employees?
- Employees must work overtime or take on more than one roles
- Stressful work environments for overworked employees
- Production time and levels are affected
- Temporary or permanent business slowdowns or shutdowns
How Can Accord Help?
Accord has been helping the service industry and many other industries with payroll financing for decades now. Accord can help prevent staffing problems with their simple financing solutions which can help even out cash flow. Businesses can leverage their assets and use the extra cash on hand for payroll. That way, they can stay competitive and pay employees fairly.