Predictive Success Blog

Business is booming.

Recent changes to tax and regulatory policies in the US have shifted the economy into great shape. According to an August survey from the National Federation of Independent Business (NFIB), small business owners have never been more optimistic about what the future holds [1]. And as businesses grow, so do the number of job openings.  In fact, an all-time high of 6.94 million job positions are waiting to be filled by potential employees, reported a July JOLTS survey [2]. A record number of job openings is due in part to a rising job quit rate, which rose to a 17-year high of 2.4 percent in July. [3] This means that 3.58 million Americans have recently quit their jobs, many of whom could be looking for new employment opportunities.

It seems that an increasing number of firms are looking to hire qualified candidates and, from looking at the rising job-quit rate, an increasing number of Americans are looking for new employment. So why did the NFIB report that 89 percent of small business owners who attempted to hire found no or few qualified candidates? Why are firms struggling to make ends meet in the recruitment process?

Get an edge on the competition.

In a separate survey from the NFIB, 25 percent of business owners identified the challenge of hiring qualified workers to be their single most important business problem [4]. One solution is to consider incorporating the Predictive Index® when hiring potential employees. At Predictive Success, we help administer quick, precise, and scientifically-validated behavioural and cognitive assessments to increase your chances of hiring the most qualified candidate possible. In today’s growing economy, it is essential to be able to recruit the right employees to maintain your competitive edge.

 

To learn more about the Predictive Index®, the Predictive Index Behavioural Assessment™, and the Predictive Index Cognitive Assessment™, click here.

 

[1] https://www.nfib.com/surveys/small-business-economic-trends/[2] https://www.bls.gov/news.release/jolts.nr0.htm[3] https://www.bloomberg.com/news/articles/2018-09-11/job-openings-in-u-s-increased-in-july-to-record-6-94-million[4] https://www.nfib.com/content/press-release/economy/small-business-optimism-shatters-record-previously-set-35-years-ago/