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Help wanted? Good luck: Tight
labor market makes hiring tougher

Rules of Thumb Looking for a challenge? If you think landing financing to get a business off the ground is hard, try finding and keeping employees.

Recruiting and retaining workers tops the list of challenges for small and mid-sized businesses, according to a survey by Arthur Andersen and National Small Business United.

Nearly half (48 percent) of the companies surveyed say they are concerned about recruiting, up from 37 percent in 1998.

Almost 11 percent of the firms surveyed said that a key job was unfilled for six months or more.

And once you have the workers, there's the problem of keeping them. The survey found that 35 percent of companies have a problem with employee retention.

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So what do businesses do if that dream job candidate doesn't appear on their doorstep?

More than half of the businesses (55 percent) have turned to outsourcing, up from 45 percent in the past two years.

How does your business stack up?

Good workers hard to find

If you'd like to make a comment on this story,
e-mail bankrate editors.

-- Posted: Sept. 6, 2000

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