While We Were Working: Your Weekly Small Business HR News and Strategy Podcast

While most of the jobs lost during the pandemic have been recovered, there's a growing concern for an impending economic recession among economists and organizations. Although the economy's future remains unclear, small businesses must prepare for the worst-case scenario.

In this week's episode, Joey and Sommer explore why recessions happen, their implications for small businesses, and a few strategies to successfully navigate an economic downturn. Tune in to find out more!

You'll also learn common mistakes small businesses make during recessions and the importance of maintaining perspective in uncertain times - all you need to know to make your business recession-proof.

Sommer and Joey also discuss stay interviews - what they are, why many small businesses fail to implement them properly, and best practices to improve retention and your workplace culture.

• Intro (00:00)
• How to protect your small business from a recession (02:06)
• The one mistake small businesses make during recessions (06:27)
• Why maintaining perspective is essential (10:16)
• What is a stay interview? (13:42)
• The main reason why conducting exit interviews can be so challenging (17:50)
• Best practices to improve workplace culture and employee satisfaction (21:42)

📰 Article in question:

https://www.inc.com/ali-donaldson/7-tips-on-how-to-recession-proof-your-business-from-leaders-who-have-been-through-it.html

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Do you need HR consulting for YOUR small business? We got you covered!

👉 Learn more at: https://jumpstart-hr.com/

Do you have a question that you want us to tackle on the show?

📧 Email us at: [email protected]

Java With Joey (Monthly Small Business CEO Mastermind) - https://community.jumpstart-hr.com/offers/mwka2AyB/checkout

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Hosts: Joey Price and Sommer Ketron

This show is powered by Jumpstart:HR, LLC

www.Jumpstart-HR.com

A recent data report by HR platform Gusto shows that the share of fully remote workers has increased by 240% since the pandemic began.

There is no doubt that flexibility has become a crucial factor in whether or not people will take a new job - so it's critical for growing businesses to adapt and develop new HR strategies.

This week, Joey welcomes Gusto's Liz Wilke and Eric Schuchman to discuss the new trends around remote and hybrid work and how Gusto can help small businesses tackle these HR challenges.

Tune in to learn how to boost your hybrid work and talent strategies to attract and retain the right kind of talent into your business.

Eric Schuchman, Head of Product, Gusto

Eric Schuchman is head of product at Gusto, where he leads product management for their core payroll, benefits, and HR products. During his time at Gusto, Eric has helped scale the company and product from serving thousands of growing businesses to hundreds of thousands, from tens of employees to thousands, and from a payroll product to a full people platform. He is passionate about building products people love.

Prior to Gusto, Eric led product teams at Location Labs and Microsoft. Eric holds a degree in electrical computer engineering and biomedical engineering from Duke University, where he graduated magna cum laude, Phi Betta Kappa, and Tau Beta Pi.

Liz Wilke, Principal Economist, Gusto

Liz Wilke is a Principal Economist at Gusto, researching the state of work and business in the modern economy. Prior to Gusto, Liz led Future of Work research at LinkedIn. She is a veteran of both the technology and government sectors, where she directed research programs and public spending that supports dynamic, resilient companies and workers across the globe. Liz holds a dual BA in Economics and Government from the University of Texas at Austin, and an M.Phil and PhD in Public Policy from the Pardee RAND Graduate School.

https://www.linkedin.com/in/lizwilke/

https://www.linkedin.com/in/eschuchman/

• Intro (00:00)
• Liz's and Eric's background and role at Gusto (02:16)
• WWWW: Takeaways from Gusto's new report on remote and hybrid work (05:20)
• How small businesses can adapt to remote and hybrid work trends (11:03)
• How Gusto can help you improve your remote work and talent strategies (19:01)
• Tips on how to create a better onboarding experience (30:41)

📰 Article in question:

• gusto.com/whilewewereworking-data
• gusto.com/whilewewereworking

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Special Offer! Sign up for Gusto and get $100 after you run payroll at: https://gusto.com/r/joey1080

Do you need HR consulting for YOUR small business? We got you covered!

👉 Learn more at: https://jumpstart-hr.com/

Do you have a question that you want us to tackle on the show?

📧 Email us at: [email protected]

Java With Joey (Monthly Small Business CEO Mastermind) - https://community.jumpstart-hr.com/offers/mwka2AyB/checkout

👉 Join our Empowered People Leaders Community [FREE Access] - https://community.jumpstart-hr.com/offers/MwchLoyL/checkout

👉 Join our Student and Early Stage HR Pro community -

https://community.jumpstart-hr.com/offers/pWTbD2Ue/checkout

Hosts: Joey Price

This show is powered by Jumpstart:HR, LLC

www.Jumpstart-HR.com

Where are your employees working from?

Having employees working in different states where you're not legally registered to be conducting business could cause many compliance and tax issues for your business.

And as the volume of remote work increases, small business HR teams need to keep track of where their employees are working from. So, what does a successful remote work policy look like?

Tune in to this week's episode of 'While We Were Working' to find out!

Joey and Sommer also discuss what small companies can do to enhance or create their employee benefits policies. You'll learn which benefit portfolio is the best for your company, how to set up a contribution arrangement plan for your employees, and more!

• Intro (00:00)
• High, low, buffalo (02:11)
• WWWW: Where are your employees working? (06:20)
• The problem with remote work (08:25)
• How to set up an effective remote work policy (11:26)
• Consultant's Corner: Where to start if you want to offer benefits (14:07)
• The top benefits small businesses should be offering (19:19)
• How to choose the right contribution plans (22:02)

📰 Article in question:

While We Were Working:

https://hrexecutive.com/hr-tech-number-of-the-week-where-are-your-employees-working/

American Payroll Association's Multi-State Taxation Report:

https://www.americanpayroll.org/compliance/compliance-overview/hot-topics/multi-state-taxation

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Do you need HR consulting for YOUR small business? We got you covered!

👉 Learn more at: https://jumpstart-hr.com/

Do you have a question that you want us to tackle on the show?

📧 Email us at: [email protected]

Java With Joey (Monthly Small Business CEO Mastermind) - https://community.jumpstart-hr.com/offers/mwka2AyB/checkout

👉 Join our Empowered People Leaders Community [FREE Access] - https://community.jumpstart-hr.com/offers/MwchLoyL/checkout

👉 Join our Student and Early Stage HR Pro community -

https://community.jumpstart-hr.com/offers/pWTbD2Ue/checkout

Hosts: Joey Price and Sommer Ketron

This show is powered by Jumpstart:HR, LLC

www.Jumpstart-HR.com

It was only a few weeks ago that ChatGPT was released, and it has already been seen as a tool that could potentially replace thousands of jobs and even make search engines obsolete.

This technology can write complex essays and even code, which has implications for the future of jobs in fields such as development, sales, and marketing. Also, It is currently free to use, which makes it something worth paying attention to from both an employment and commercialization standpoint.

So, will this technology make knowledge workers who currently do tasks such as writing copy and researching/compiling reports redundant? Or are human beings still irreplaceable in these positions?

Tune in for this week’s podcast to find out!

Joey and Sommer are also diving into the juicy topic of what to do when you suspect office romance.

Brand new mind-blowing AI technology + love is in the ai... office = you definitely don’t want to miss this episode!

• Jumpstart’s proud to be recognized by Fit Small Business (00:00)
• What is ChatGPT, and how could it render search engines obsolete? (04:39)
• How ChatGPT works (09:05)
• What to do when you suspect office romance (13:26)
• The worst-case scenario of an office romance (17:10)
• Written policy on the risk of love relationships between coworkers and actual or perceived favoritism (19:56)

Check out our YouTube channel: https://youtube.com/@jumpstarthr

Do you need HR consulting for YOUR small business? We got you covered!

👉 Learn more at: https://jumpstart-hr.com/

Do you have a question that you want us to tackle on the show?

📧 Email us at: [email protected]

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📰 Fit Small Business’s article: https://fitsmallbusiness.com/best-hr-outsourcing/

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Hosts: Joey Price & Sommer Ketron

This show is powered by Jumpstart: HR, LLC

www.Jumpstart-HR.com

Summary

This episode’s conversation explores the topic of internal versus external hiring in small businesses. Experts from Jumpstart HR and the Fit Small Business team discuss the key differences between the two methods, including the impact on cost, time efficiency, employee morale, retention rates, and diversity of skill sets. They also provide a five-step framework to determine whether to fill a role with an internal hire or an external hire, which includes assessing current skills and gaps, identifying growth and development opportunities, conducting a cost benefit analysis, considering cultural fit and adaptability, and evaluating long-term impact and strategic alignment.

Takeaways

• Internal and external recruitment methods have different impacts on cost, time efficiency, employee morale, retention rates, and diversity of skill sets.
• A five-step framework can help small businesses determine whether to fill a role with an internal hire or an external hire: assess current skills and gaps, identify growth and development opportunities, conduct a cost benefit analysis, consider cultural fit and adaptability, and evaluate long-term impact and strategic alignment.
• Communication, performance reviews, and feedback are important in assessing current skills, identifying growth opportunities, and promoting internal candidates.
• Cost considerations include compensation, benefits, and potential expenses for external hiring, while internal hiring may involve salary adjustments and filling previous positions.
• Cultural fit and adaptability should be considered when deciding between internal and external candidates, as well as the long-term impact and alignment with business goals.

Chapters

00:00 Introduction

03:23 Key differences between internal and external recruitment methods

06:00 Cost implications of internal versus external hiring

08:46 Time efficiency of internal and external recruitment methods

14:16 Effect of internal and external recruitment on employee morale and retention

16:31 Impact of internal and external candidate recruiting strategies on diversity of skill sets

21:57 Step 1: Assessment

24:30 Step 2: Identifying

28:04 Step 3: Costs

31:24 Step 4: Culture

31:54 Step 5: Long-term impact and strategic alignment

To learn more about Internal vs External Hiring, visit @FitSmallBusiness’s Helpful Guide: https://fitsmallbusiness.com/internal-vs-external-recruiting

To subscribe to Fit Small Business, visit: https://link.fitsmallbusiness.com/join/65m/hr-social-signup

To work with Jumpstart HR’s team of HR professionals, visit our website: www.jumpstart-hr.com