Leading job matching platform Indeed has launched a $50 million fund to support recruiting efforts, which should accelerate the recovery of small businesses across America.
Indeed Launches $50 Million Small Business Recruitment Fund
The fund was announced during the publication of Indeed’s 2022 State of Small Business Hiring report, which also found that 38% of small businesses believe they could have 11-20% business growth within a year if the hiring process were more efficient. The report also says that more than half of small businesses had between one and four unfilled roles in the past three months, taking more than a month on average to fill each role.
Options for applicants Creating a competitive market
Indeed, we have noted that small business employers are struggling in what has become a highly competitive market for talented applicants to choose the role that best suits their personal needs.
The $50 million fund aims to help such companies hire faster and more efficiently. Funding is especially important as Indeed’s report shows that a third of companies say their financial growth has been stalled because of open positions. Another 27% said they’ve lost customers due to lack of staff, and nearly a quarter said they’ve experienced delayed product launches due to their recruiting difficulties.
Indeed, making the recruitment process easier
Indeed, their website states: “We are here to help you succeed. Indeed has established a small business hiring fund and pledged $50 million in sponsored job credit to help companies find great hires. With your credit, you can use our premium tools to increase your job visibility and connect with quality candidates faster.”
They also say that small business owners can earn credit to improve their recruiting with Indeed interviews. They explain: “Hiring the right candidate is a lot easier with interviews on Indeed. You can connect, schedule, manage, and conduct phone and video interviews, all from your employer dashboard.”
Indeed is also offering a limited-time promotion where small business owners can earn up to $500 in Sponsored Job Credit, providing $300 for completing their first interview and $50 for each additional interview completed.
Lack of holidays that cause burnout
Other information uncovered by the State of Small Business Hiring report includes 77% of small businesses still struggling with open positions, as well as a third who have experienced burnout from just the inability to go on vacation. .
The Indeed Small Business Hiring Fund seeks to be a direct solution to this problem for as many small businesses as possible. The aim is to alleviate the time and financial burden of inflationary pressures and labor shortages, with the hiring process identified as one of the key issues holding back small businesses.
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This post Indeed Launches $50 Million Small Business Recruitment Fund was original published at “https://smallbiztrends.com/2022/05/indeed-launches-50-million-hiring-fund.html”