019: Should Small Businesses Worry About Inflation's Impact on Employees' Wages?

The Consumer Price Index rose 7.9%, year-over-year in February- its highest point in more than 40 years, and it's steadily increasing. Should employers be worried about its effects on workers' wages?

Sommer and Joey discuss how exactly inflation can affect small business, especially regarding talent acquisition and retention. Tune in to learn more about the key tactics companies are developing to offset inflation and what small businesses can do to keep up.

In today's 'Consultant Corner,' Joey and Sommer share their views on the blind hiring process: what it is, how it works, and why companies should utilize it.

 

Key Takeaways 

  • Intro (00:00)
  • High, low, buffalo (01:42)
  • WWWW: How does inflation affect small businesses? (08:06)
  • What companies can do to counterbalance inflation (13:30)
  • Consultant's Corner: The blind hiring process (21:21)
  • Why companies should adopt blind hiring (25:19)

 

Additional Resources

📰 Article in question: 

While We Were Working:

https://www.shrm.org/resourcesandtools/hr-topics/benefits/pages/inflation-continues-to-surge-affecting-wage-and-benefits-planning.aspx

Consultant's Corner: 

https://www.glassdoor.com/employers/blog/blind-hiring-process/

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Hosts: Joey Price and Sommer Ketron

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