Small businesses are the economic engine of communities, cities, and countries around the world. As a result, the economy as a whole does well when they do.
Helping Your Small Business Create Jobs
Good Jobs, Good Business is a free digital toolkit created to provide small businesses owners with tools, resources, and advice. With this intention, the toolkit encourages owners to create jobs which improve retention, employee performance and productivity. At the same time owners can also achieve real short- and long-term cost savings while creating these jobs.
The kit comes from Pacific Community Ventures (PCV), an organization dedicated to empowering small business owners. As a 501c3 nonprofit social enterprise and community development financial institution (CDFI), PCV wants to make markets work. The mission of PCV is to offer fair lending. But it also provides free mentorship, skilled volunteerism, impact investing consulting services and field-building research.
Since 1998, PCV has invested around $100 million in capital and pro bono advising hours. And the result has been more quality-job-creating companies. The organization also influences a growing pool of tens of billions in impact investment capital.
In an emailed press release Mary Jo Cook, President and CEO of Pacific Community Ventures, explains why small businesses need support.
Cook says, “We cannot simply ask small business owners to create ‘good jobs’ without giving them the tools, coaching, and roadmap to do so in ways that support their overall business needs. We are committed to helping small business owners create jobs that are good for their workers and good for their businesses.”
Good Jobs, Good Business looks to extend this effort further by helping owners be more productive and create better jobs.
The Good Jobs, Good Business Toolkit
With the Good Jobs, Good Business toolkit, business owners will be equipped with practical tools and resources to offer good jobs. For example, the toolkit helps balance the needs of the business along with those of the employees.
According to PCV, it removes the guesswork from the “how-to” of creating good jobs and strengthening a business at the same time.
The toolkit focuses on the retail industry, which will help the one in ten Americans who work in the segment. Everyone from salespersons to cashiers, stock clerks, and first-line supervisors and managers can reap the benefits of this initiative.
The people in this industry have median annual wages from $20,160 for cashiers to $38,870 for supervisors/managers.
The Good Jobs, Good Business toolkit has seven key areas.
1. The Business Case for Quality Jobs – Quality jobs provide your employees with greater financial security, enhance productivity, and support professional and personal success. As a retail business owner, you can shape the quality of jobs you offer in a way that works for your business and your employees.
2. Employee Compensation – Your employees are one of your most valuable assets. So it goes without saying, higher compensation and improvements in job quality can lead to greater productivity and improved customer service. This includes attracting qualified candidates—helping not only your employees but also your bottom line.
3. Health Benefits – Providing healthcare benefits offers competitive advantages to your business. In addition to attracting talented workers, it improves their wellbeing and productivity while increasing retention rates in the long-term.
4. Retirement Benefits and Other Wealth-Building Strategies – By offering a retirement plan you can lower income taxes for participants while reducing your business taxes.
5. Stable Scheduling, Vacation and Paid Leave – Stable schedules improve retention, drive down absenteeism, raise productivity, and foster employee morale. And paid leaves and vacations also provide benefits in recruitment and retention.
6. Hiring, Training, and Professional Development – These components are crucial for a productive workforce and healthy company culture. According to PCV, they are three steps in a single process.
7. Employee Engagement – With an engaged workforce you can expect lower absenteeism and turnover, consequently it increases productivity, sales, profitability, and creates a much safer working environment.
You can download the kit (PDF) here.