What's The Labor Pool Like In Michigan?
Having a quality workforce can be critical for a small business. However, getting the kind of workforce one wants for one's business isn't always easy for a business owner. There are various things that can create barriers when it comes to drawing in and retaining talented employees.
One such thing are disputes over employment-related matters. One of the consequences mishandling such disputes could have for a small business owner is that it could cause their business to develop a poor reputation among high-talent employees, which could drive such employees away from the business. Given this, the quality of legal advice a business owner is receiving when dealing with such a dispute can matter greatly.
Another thing that can create challenges for a small business workforce-wise is if the labor pool in their state isn't very strong. Here in Michigan, following the Great Recession, concerns arose about the strength of the state's labor pool. Among the causes of these concerns was a talent flight that occurred following layoffs of skilled workers in the recession.
However, it appears that the state's labor pool is now rebounding back towards a stronger position. According to a recent report, small business leader confidence in the quality of the state's labor pool is on the increase.
The survey polled well over 600 owners/executives of small businesses. Over half of these respondents (51 percent) reported that the state's labor pool is currently pretty good or excellent. This is an improvement over the levels seen in a previous report which came out at the end of last year. Specifically, as compared to that past report, the level of reporting this kind of confidence in the state's labor pool was up 5 percent.
One wonders if the state's labor pool will continue on the trend of strengthening and what overall impacts the state's small businesses will experience as a result of this trend. What things do you think are key to maintaining a strong labor pool in the state?
Source: Detroit Free Press, "Michigan's labor pool stronger, small businesses say," Alexander Alusheff, July 28, 2016