Insureon Blog

Top 5 Risks for Understaffed Small Businesses

21. January 2013 16:13
understaffed small businesses

A survey of small businesses conducted last year found that more than a third of them — 35 percent — report being understaffed, but only about 21 percent plan to hire new employees in the coming months.

Worries about the economy and future cash-flow, an inability to find qualified workers, and concerns about rising health-care costs top the reasons small-business owners gave for such shortages.

While money worries are a legitimate reason to hold back on hiring, you should be aware of the potentially costly risks that come from running an understaffed operation.

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Managing the Risks of an Understaffed Workplace

Taking a proactive approach to mitigating your business risk is essential to staying optimally productive until you're ready and able to hire a new team member. Your risk management plan should include…

Sources:

http://www.managingpeopleatwork.com/Article.php?art_num=4036

http://www.helium.com/items/2020798-working-in-an-under-staffed-office

http://www.thirdage.com/news/mayo-clinic-study-shows-understaffed-hospitals-increase-patients-risk-death_3-17-2011

https://mediaroom.tdbank.com/2012-07-30-More-than-One-Third-of-Small-Businesses-Are-Understaffed-But-Fewer-Plan-to-Hire-in-Upcoming-Months-TD-Bank-Survey

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Small Business Risk Management | Workers' Compensation Insurance

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