There was a recent article titled Employee Retention Strategies that described how two main problems facing businesses during the recession are under-qualified people applying for positions and retaining your best employees. The article focuses most on the businesses keeping those valuable employees and gives four suggestions.
Give compensation where it is due.
Enforce an open desk policy.
Provide growth opportunities.
Be a flexible and transparent employer.
That is one view of the impact of the high employment rate on small businesses and certainly an absolutely valid one. There is another take though that this may be the time to look for new employees, either to replace marginal employees or to hire some bright new talent to improve your workforce. After all there are lots of very talented people unemployed so it might be a good opportunity to make some changes that will help your business in the future. We discussed this idea in Mine Your Own Business back in February in Employees and the Recession. Unfortunately the high unemployment rate is still with us, so the posting is probably worth a look.