Hiring and Growth

June 18, 2021: Minimum Wage Set to Increase in Several Cities on July 1

Mohini Kundu Content Marketer, Gusto 
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June 18, 2021

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New E-Book: Recruiting and hiring in a post-COVID world

Finding and keeping talent is probably on all your minds right now. In fact, we’ve heard from a few of you about the specific challenges. 

Techmate Talent, a tech recruiting business based in San Diego, highlights how hard it is to find candidates right now: “Positive response rates have dropped from 5–7% to 1–2%. We are struggling to get any candidates in [the] process.” Another business shared that, “We offer sign-on bonuses and still no one applies.”

Getting candidates in the door is half the hiring battle and requires an ever-increasing pool of talent. One silver lining of the pandemic was that it fast-tracked the shift to remote workplaces, with 74% of workers saying they expect to continue working from home permanently. More remote workers means your talent pool just went national—so long as you’re prepared to take advantage of it.

We teamed up with our partners at JazzHR to create an e-book that will prepare you to do just that. From supercharging your recruiting process with technology to staying on top of your hiring obligations in multiple states, this e-book will help you make the most of remote talent.

Download your free copy of the e-book here.

SBA Loans Series, Part 2: Express Loans

We know how crucial access to capital will be this summer. That’s why we’re highlighting a helpful Small Business Administration (SBA) loan program each week.

Last week, we discussed the SBA’s Standard 7(a) Loan, one of the most common SBA loan types. Under the same 7(a) program, there’s also an Express Loan option. It offers an expedited approval time of just 36 hours—but due to the higher risk involved, the SBA only guarantees 50% of the loaned amount. Still, it’s a helpful option to consider if you need access to capital fast.

Maximum loan amount: $350,000

Maximum SBA guarantee: 50%

Note that if you’re approved for an Express Loan, you’ll receive your funds within 90 days, and you’ll have to pay a guaranty fee to the SBA within this timeframe.

Learn about eligibility and how to apply in our full guide to SBA Express Loans, and tune back in next week for another loan spotlight. You can check out our full list of SBA loans here.

Has the minimum wage changed in your state?

Minimum wage rates across the country are seeing increases this year. New rates hit several states and cities on January 1, 2021, and several more will experience increases as of July 1. Major localities include:

  • Chicago
  • Los Angeles
  • Minneapolis
  • Portland 
  • San Francisco 
  • And many more.

It’s important to know your local laws to ensure you’re paying your team compliantly. Consult our guide to 2021 minimum wage rates to see if there’s been an increase in your state or city.

Watchlist

JUN 22-24: “Retool, Restore, Recover” Bootcamp with USBC and Wells Fargo

The R3 Boot Camp is designed for small and diverse-owned businesses and will focus on teaching participants how to develop new and innovative marketing tactics to meet the digital demand in three sessions. Register here.

JUN 30: How to automate your business using Zapier

Join IFundWomen’s Tech Experts, Maya Brooks (Sr. Product Manager) and Njeri Maxwell (Technical Customer Support Associate) to learn how to automate the key functions in your business so you can be more efficient and less stressed. In this workshop you will learn all about automation, what types of functions you can automate, and how to implement automations between your most used tools like Google Sheets, Airtable, and Paypal using  Zapier. RSVP here.

Find the latest relief options in our Small Business Relief Finder.

Want more news and resources? Check out past editions in our archive.

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Mohini Kundu
Mohini Kundu Mohini Kundu is a news editor on the Gusto content team. She studied journalism at Northwestern University and started her career at The Huffington Post before embracing the #startuplife.

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