Small businesses reopening with flexibility and optimism, SHRM says

Dive Brief:

  • Small business owners are hopeful for a swift economic recovery as they begin reopening after closures due to the COVID-19 pandemic, according to a report released June 23 by the Society for Human Resource Management (SHRM).The data comes from a survey of 416 small business executives from organizations with 500 or fewer employees.

  • To reopen, nearly a third of those surveyed said they're re-evaluating business protocols. And the majority (82%) said they are considering or adopting broader telework policies, while almost half (43%) said they will allow flexible hours or compressed workweeks.

  • Although most respondents said they recorded an overall decrease in revenue since the beginning of the pandemic, 52% expect to recover to pre-COVID profitability in six months or less. This is a speedy recovery in comparison to forecasts by economists predicting some metro areas won't return to pre-COVID-19 employment levels until 2024, according to SHRM. Almost half said they anticipate losing customers going forward and 53% are concerned about the increased risk of lawsuits due to reopening amid the pandemic, according to SHRM's report. FULL ARTICLE

© 2020

InteliCrunch is a free service provided by a collective of people who monitor the background screening industry and how events affect not only the people in it, but even more importantly, the real human impact the industry has on today's society.*All third party logos and / or images used on this website are the sole property and / or registered trademarks of their respective companies or copyright holders. Use of these logos, images or likenesses does not, in any way, imply the endorsement of InteliCrunch by any of the businesses, brands or individuals represented, their parent companies, officers, employees, partners, or affiliates. Any such usage is for informational / news purposes only.  Any / all articles, announcements, releases or third-party-authored content is / are linked back to the original "source"  and author credit given  Furthermore, InteliCrunch is not responsible for, and does not warrant the safety of any third-party links or sites to which any viewer may be directed from InteliCrunch.  InteliCrunch has made reasonable efforts to ensure that any news or informational links on the site are from "known and reputable"  sources / websites.