4 Common Business Obstacles in 2023

Inflation & Economic Challenges

Recently, there’s been a lot of economic uncertainty, and businesses have been advised to prepare for stagnating and shrinking economies worldwide. This is the time to pay extra attention to your budget and consider making adjustments, such as scaling your business up or down.  Some examples include restructuring:

• • business goals
  • operational resources
  • headcount
  • technology
  • product offerings

We have been helping businesses with their 2023 budgets by providing solutions to scale/de-scale Full-time headcount, and we can help you too!   To increase the probability of success, we base scaling decisions on your business and industry-specific factors.

Retaining & Recruiting High-Quality Candidates

With the aftermath of Covid and the fluctuating economy, there have been dramatic shifts in our labor force. One example is the growing desire for jobs that better fit people’s personal lives rather than fitting their personal lives into their work schedule. This shift has led to over 47 million jobs abandoned voluntarily since 2021. 

HRC uses Stay Interviews and employee relations tools to identify the factors contributing to, and hurting, employee retention.

When it comes to hiring, we are skilled in identifying and communicating the benefits of joining your team, as well as Recruiting high-quality candidates with a 96% retention rate!

Navigating the Talent Shortage

In the past, hiring additional employees was the easiest option for adding necessary skills to your team. However, this has become increasingly challenging due to the skills shortage, low unemployment rates, and changing desires of the workforce.

One solution that businesses have been finding success with is upskilling, reskilling, or continual learning for their employees. This benefits you by:

• • • Driving employee engagement & productivity
    • Making your employees & business adaptable
    • Improving ROI & reducing waste
    • Saving on recruitment costs 

HRC can help you develop skills programs and goal-oriented performance management systems that develop target skills!

Monitoring Employee Performance

One of the most common business challenges is developing and measuring the right metrics when analyzing employee performance. This requires an understanding of the top priorities and business goals and which key metrics (or KPI’s) contribute to reaching them. 

We are here to help you:

• • • Develop Cascading Goals
    • Develop relevant KPIs, & train on measuring them properly
    • Building effective employee training programs
    • Develop goal-oriented performance management systems to develop targeted skills

Need help overcoming your business obstacles? HRC is Here for You!

Our Team is comprised of degreed and certified HR experts, here to help you with any of your Business, HR, Recruiting, or Safety needs.

We offer free consultations to get to know you and your business; schedule a meeting here.

Or, you can contact us by email at HR@myhrcgroup.com, and by phone at P: 574-210-9345.

HRC – Here for You, as an Extension of Your Team!