Small Business Owners Impacted by Surge in Covid-19 Cases and Staffing Shortage

National Federation of Independent Business (01/13/22)

The recent increase in Covid-19 cases has negatively impacted about two-thirds of small business owners, according to a survey of 710 owners by the NFIB Research Center. Eleven percent of owners said the surge in cases had a significant impact on their business, 23% reported a moderate negative impact, and 34% a mild negative impact. Of those negatively impacted, 19% said the rise in cases is significantly impacting employee work attendance. Twenty-three percent said that it’s moderately impacting work attendance, and 34% reported a mild impact.

Twenty-three percent of small employers currently are experiencing a significant staffing shortage and 20% are experiencing a moderate staffing shortage. Forty-five percent said their current staffing shortage is about the same as it was three months ago. One-quarter of small employers said it is worse, and 5% said it is better than it was three months ago. To address the staffing shortage, 83% increased wages, 24% increased paid time off, 20% offered or enhanced hiring bonuses, 24% offered or enhanced referral bonuses, and 29% offered or enhanced health insurance benefits.

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