Raising Wages to Fight the Great Resignation

According to Guidant Financial’s 2022 Small Business Trends report, 63% of small business owners raised wages to retain workers. Businesses that raised wages were slightly more likely to be profitable (70%) compared to those that did not (65%). Another finding: 47% of businesses report insufficient job applicants, and 30% report experiencing head-hunting competition from competitors. #IdeaoftheDay