April 29, 2022
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SMBs are growing places
Yesterday, the White House released a fact sheet on small business growth in 2021, and the numbers highlight the adaptability and perseverance of entrepreneurs, especially during a rough period for growth. According to the report, in 2021:
- 5.4 million new businesses were created, more than 20% higher than any other year on record
- Small businesses (with fewer than 50 employees) created 1.9 million jobs in the first three quarters
- Hispanic Americans started new businesses at the fastest rate in over a decade
Uncertain economic times can feel risky, but entrepreneurs also know they can present great opportunities. If you’re considering starting a business but you’re daunted by a potentially cloudy economic climate, we’ve got the guide for you.
7 simple ways to enhance employee experience
Customer experience is key for your bottom line, but the reality is, there is no business without your employees. We’ve said it before but it bears repeating: Creating an environment where your team feels empowered and wants to do their best work is essential to business success.
The best part? You don’t necessarily need a big budget or a complete policy overhaul to improve your employee experience. You just have to be willing to learn and make changes. Read about seven simple (but impactful) ways to improve your employee satisfaction and well-being on our blog.
May compliance calendar
The busiest month of the year is almost over. You made it! Congrats! But as you know, that doesn’t mean there aren’t still important deadlines coming up for business owners. Find all the tax, payroll, and compliance dates you need to keep track of in May here.
What is human capital management?
You’re probably familiar with human resource management (who hasn’t heard of HR?)—but what about human capital management? It’s based on themes from the Enlightenment Era that emphasize investing in people as a resource and the value of human happiness when it comes to a nation’s productivity and wealth. So unsurprisingly, we’re fans at Gusto.
Human capital management is a collection of strategies to help you get the best from your workforce by:
- Hiring the right people at the right time
- Managing your people in the most effective way
- Retaining your workforce—which translates to employee satisfaction
- Developing your workforce to increase productivity
Want to learn more? Check out our comprehensive guide to human capital management here.
What we’re reading
- Is the Four-Day Workweek Finally Within Our Grasp? (New York Times)
- Why Companies Should Pay More Attention to Customers Last in Line (Wall Street Journal)
- Research: How to Power Through Boring Tasks (Harvard Business Review)
Watchlist
May 3: Is Your Business Ready for State-Mandated Retirement Plans?
June 30 marks California’s deadline for businesses with five or more CA-based employees to offer a retirement plan—and other states’ deadlines will soon follow. Learn how to prepare your business from our expert partners at Guideline on May 3 at 10am PT. Save your spot here.
Find the latest relief options in our Small Business Relief Finder.
Want more news and resources? Check out past editions in our archive.
