Issue 8 2019

26 CEO MONTHLY / ISSUE 8 2019 , When asked about the most pressing current workforce challenge in their business, 58 percent of small business owners reported the “inability to find employees with the right skills to fill key positions.” Small Business Owners Find It Hard to Fill Jobs Further, 58 percent ‘strongly agree’ or ‘agree’ that “I worry about losing my best people from the firm” and 62 percent said, “we often find it hard to fill important roles.” These are the results of a new survey of 319 U.S. small business owners released today by Oasis, a Paychex® Company, which provides outsourced HR solutions. When it comes to filling open positions in their organizations, small business owners use a combination of internal and external sources. How do you fill open positions in your organization? • 51% - We rely on a combination of internal employee development and external hiring. • 30% - We have a good pipeline of developing employees to cover most of our needs. • 19%- We routinely look externally before filling roles in our business. While 50 percent of survey respondents reported they aim to offer competitive compensation, 13 percent said they “only pay the basic level of compensation,” and 11 percent said they “only pay above the going rate to top performing employees.” “An organization’s talent is often a company’s only differentiator,” said Mary Anne Tate, Director, PEO, Centralized Service at Oasis. “High-performing employees always have options to move. To attract and retain the best available talent in the market, providing competitive compensation and health benefits packages are the table-stakes. But it takes more than this today. Employees are looking for opportunities for growth, development, purposeful work, and to find a culture where they feel like they fit in.” “Professional Employer Organizations (PEOs), like Oasis, can help small business owners offer world-class benefits as part of a total compensation package to enable them to vie for talent on equal footing with much larger employers,” advised Tate. “Employees today are informed and know their value, so it’s critical that small businesses offer competitive benefits in order to make their company an attractive employer of choice.” About the Study: The study was conducted with 319 U.S. small business owners and managers who employ between 10 to 99 employees. Nearly all (89 percent) of the businesses were privately owned, and 68 percent operated from one location. Most reported revenues in excess of $1 million (57 percent ). A wide range of industries were represented. The online interviews took place between February 11 and 18, 2019, by using a National Web Panel by SSRS, an independent market research company located in Glen Mills, PA. About Oasis, a Paychex® Company Oasis is a national Professional Employer Organization (PEO) that specializes in providing human resources services, employee benefits administration, payroll and tax administration, risk management services and staffing solutions to small- and medium-sized businesses throughout the United States. Oasis is accredited by the Employer Services Assurance Corporation (ESAC) and the IRS has certified subsidiaries of Oasis to provide PEO services under the Small Business Efficiency Act (SBEA). For more information about Oasis, visit www.oasisadvantage.com. Professional employer organization (PEO) services are sold and provided by Oasis Outsourcing, Inc. (Oasis) and its affiliates, which are registered and licensed to sell and provide PEO services, including in Florida. Oasis FL license numbers are Oasis Outsourcing, Inc., GL42; Oasis Outsourcing Admin Group, Inc., GL237; Oasis Outsourcing V, Inc., GL54; Oasis AHR, Inc., GL156; Staff One, Inc., EL194; Staff One of Oklahoma, LLC, EL456.