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Despite concerns about a possible recession next year, job openings rose to 10.7 million in September, about 1.9 jobs per unemployed person for the month, according to the Bureau of Labor Statistics.
Small business owners who want to attract and retain top talent must provide future employment at a competitive salary or better in today’s challenging labor market. Her CEO and founder of Sistahs in Business Expo, Aisha Taylor Issah, a small business expo and community designed for entrepreneurial women of color, is a company-wise, We want to create an attractive benefits package for
Insider partnered with Indeed to create a mentorship program to help five entrepreneurs overcome these talent-related hurdles. We pair them with five of his experts to help them solve specific problems, whether it’s strengthening their DEI efforts, hiring to scale up, or creating robust benefit packages. did.
Issah worked with Leslie Neitzel, Chief Human Resources Officer at Carrot Fertility, a fertility provider, to create a proactive benefits program.
“Leslie showed me the potential to benefit my team,” says Issah. “She was very helpful in getting us to look at the options out there and really showed us that it doesn’t have to be a giant giant to benefit the team.”
During the course of this eight-week coaching program, Neitzel introduced Issah to non-traditional benefits solutions. This gives Business Expo’s Sistahs the boost they need to retain their best employees and grow.
waiting for the right moment
Issah, who has had to pay out-of-pocket medical bills in the past due to lack of insurance coverage, understands how important benefits are to attracting and retaining talent. With a Business Expo that currently has 15 staff, she knows she needs to be a competitive employer to grow Sistahs.
Meanwhile, Neitzel, who has years of experience creating benefit plans for Carrot’s 335 employees, knows that benefits are fundamental to keeping current employees happy.
In our initial conversation, Nietzl spoke of the current social, political and economic conditions, including the overthrow of the Roe v. Wade case, as the impetus for setting up the welfare program. However, Issah isn’t ready to offer benefits yet and wants to wait until the team grows.
“I’m just thinking positively,” Issah said. “I’m just trying to plan ahead for when I’m ready. Make sure you’re well-informed and in the best possible position.”
With this in mind, Neitzel rearranged the conversation to discuss beneficial perks that could be implemented at a later date. For example, employers can create her hub, an online resource with articles, tips and reminders about health and self-care, Neitzel said.
how they progressed
Knowing that cost was a factor for Issah, Neitzel offered an alternative that employers often overlooked.
The two discussed health and employee compensation options such as a lifestyle wallet. This is a fixed amount that employees can spend on health-related things like gym memberships and therapy.
“I was thinking about the benefits I received, it was kind of a standard, traditional package,” Issah said. “But I was very surprised to hear about new and innovative ways companies are providing benefits to their employees.”
The mentorship reminded Neitzel of the importance of a benefits plan that can grow with the business. If she were to coach entrepreneurs again, she said, she would want to dig a little deeper into their business plans to understand how benefits can and should play a big role in the development of the company. rice field.
“Whether it’s five, 5,000, or 50,000 individuals, it was a reminder of how complex and how different organizations and companies can be.” I once again felt the importance of
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