HR Trends Impacting the Future of Small Business

Should You Buy Social Media Ads?

A new survey from Visual Objects reveals that 70% of small businesses plan to invest in social media advertising this year. In fact, 26% expect to spend between 10% and 30% of their advertising budget on social media.

Facebook retains its top ranking for social media ads (70%), followed by YouTube (54%) and Instagram (52%). And 38% of small businesses consider Facebook the most effective social media advertising tool.

Read more about small businesses buying ads on social media.

HR Trends Impacting the Future of Small Business
While you likely don’t have an HR department at your small business, if you have employees, you will inevitably face HR challenges. Earlier this year, Sage released its HR in 2030 report featuring HR trends all business owners should know about.

According to the report, “diverse workstyles,” such as a four-day workweek and hybrid workplaces, are “likely to be the norm.” And it says, “future-focused organizations will benefit from broadening the definition of DEI (Diversity, Equity, and Inclusion) beyond ethnicity and people with disabilities to include diversity of personality, emotional intelligence, wider experiences, more appetite for risk, the ability to adapt, as well as thinking differently and neurodiversity

Read more about the HR Trends that will affect your small business.

Americans Embrace Chatbots

Conversational marketing agents, or chatbots, have become practically ubiquitous on the internet today. VentureBeat reports that according to Botco.ai, 80% of consumers say they’ve used a chatbot in the past. And 70% say chatbots typically answer all or most of their questions satisfactorily.

Should you use a chatbot at your business? Most companies do—93% of marketing professionals report their companies currently use chatbots to interact with prospects and customers. And 87% of companies not currently using chatbots plan to do so in the future—half of those expect to get started within the year.

Learn more about the use of chatbots.

Are You Burnt Out?

We all have days (or weeks) when it feels like we can’t go on—and yet, we know we have to. The Chatsworth Consulting Group says following the “5 Ps” will help.

 They are:

1. Prioritize
2. Pare
3. Pace
4. Pause
5. Practice self-care

Read more about the 5 Ps and how they can help you keep going.

Resource of the Week: Collegiate Entrepreneurs Organization (CEO)

The Collegiate Entrepreneurs’ Organization (CEO) is a national membership organization that strives to propel students into entrepreneurship, social and professional spheres of power worldwide. Its mission and vision are to provide student entrepreneurs with opportunities, events, chapter activities, and conferences.

Launched in 1997, the CEO informs, supports, and inspires students to be entrepreneurial and seek opportunities through enterprise creation. CEO currently supports entrepreneurship in over 250 chapters across all 50 states and globally.

Learn more about the CEO.