September 19, 2022

How to manage inflation as a small business owner

7 minutes

Inflation is a top concern for small businesses right now. As a result, many employers have raised prices, and some have decreased staff. In this episode, we're talking about how your business can manage the impact of inflation and we'll explore options.

[01:01] Why is inflation high right now?

[01:42] How is inflation affecting small businesses?

[02:22] How can employers manage the impact of inflation without decreasing staff?

[03:03] What are shared-work programs?

[03:47] What is the difference between the shared-work program and a furlough?

[04:27] Could employers offer more unpaid time off?

[05:13] How can small employers compete to retain talent on a tight budget?

Copyright © 2022 ADP, Inc. All rights reserved. This content may not be distributed, reproduced, modified, sold or used without the written permission of ADP. The information is provided "as is" without any expressed or implied warranty, is based on generally accepted HR practices and is advisory in nature. This content is provided with the understanding that neither the presenters nor the writers are rendering legal advice or other professional services. Employers are encouraged to consult with legal counsel for advice regarding their organization's compliance with applicable laws. This material is current as of the date of this episode (September 2022).

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