It comes as no surprise that small businesses are feeling a lot of stress right now. Our recent survey of over 1,200 small and midsize businesses—conducted from August 27th to September 8th—found staffing shortages, retention, and COVID remain chief concerns. Below are some highlights from that survey:

It’s time to be honest and evaluate what your talent acquisition team and managers are telling prospects and employees about their awards. Are you Tom Sawyer getting people to whitewash a fence or just one more employer looking to put another cog in the machine?

It’s an old adage that “people are your greatest asset” and this has never been truer. Workplaces have changed dramatically in the last eighteen months. Many organizations have struggled but those who have remained successful have one thing in common – they prioritize and recognize their people.

Most human resources and compensation professionals are peaceful people, but we are all fighting for talent. It often surprises me how many startups fight that war using the same tools and techniques as their larger combatants. There are, of course, rules that generally are followed, but they are few and relatively unrestrictive. When you are battling for the existence and success of the company that aligns with your passions and puts food on the table, perhaps you should consider not following the leaders. While cash is limited at startups, annual incentives can still exist and are compelling.

During challenging times, focus your efforts on the things that are absolutely required for future success. Every working veteran who has survived tough times in their career has become stronger for the experience. Dealing with challenging conditions is a vital, if not career-essential practical lesson. Solid contingency plans followed with calm resolution, patient endurance, and unflappable confidence can and will succeed.

As we enter the new year, the risks of COVID-19 may recede, but the trauma, pain, and disruptions of these past two years will still be with us, affecting our lives and our work. We’ve all struggled, sometimes in ways we can’t pinpoint.

Stop selecting and modifying data to match your past pay decisions. Just let the market data tell its story and use your intelligence to decide what to do with that data. You do not have to follow those ahead of you, and they may not be traveling in the same direction. Don’t be afraid to take your own road.

This is a short article about well-meaning but misguided short-term incentive plan design. When we ask business leaders to identify critical metrics for success, we often get two types of answers.

Creating a culture of inclusion, innovation, and advancement requires an organization that is open to change, has leaders who are willing to listen to employees, and invokes trust in each other.

As we exit 2020 and enter 2021, we have seen our employees dodge and maneuver whatever life and work threw at them over the last year. Start this year with a commitment to invest in improving your culture and dedication to your mission.

In cultures that struggle, the lack of trust, honesty, transparency, and willingness to change is often the root cause of all issues. Knowing this, how do you start to improve your culture?

Rather than stress the inherent risks in a quick path to IPO, try to remind people who they will be compared to once the company is publicly traded. Provide your staff with examples of companies that have weathered five or more years of post-IPO media and investor coverage. Explain what those companies did right and how your company can do similar things. In the end, a SPAC is…

In a sense, the SEC is asking if the Emperor is wearing any clothes. Many SPAC transactions have been completed successfully. Some have seriously less successful. This is to be expected and is not dissimilar from the traditional IPO market. Some succeed, some fail. But the SEC has seen…