HR Tech Helps SMBs Navigate the “Great Resignation

As the employer-employee paradigm goes through a period of turbulent change, HR technology provides a lifeline for small and midsize businesses

Even before the onset of the Covid-19 pandemic, it was clear that a foundational transformation was underway in the U.S. labor market. The pace of change has only accelerated over the past two years, leading up to what has been dubbed the "Great Resignation." Small and midsize businesses (SMBs), which have always fought an uphill battle against larger organizations in the competition for the best employees, now face even more challenges. Advances in HR technology can help overcome them.

Voluntary separations ("quits," in U.S. Bureau of Labor Statistics parlance) hit a record high in November at 4.5 million. They came close again in December, and they averaged 4 million a month throughout 2021. Among the hardest-hit sectors have been hospitality, food service, health care, transportation, and warehousing

"The HR challenges SMBs are facing today require significant insights and expertise to solve," says Tom Gearty, senior vice president of traditional employment solutions at Insperity. "They are putting real pressure on HR to perform at a much higher level. The good news is that HR has a new set of tools at its disposal to help companies address these issues."

Seller's market for employees