61% of Small Business Employees Would Give Up Benefits for a Pay Raise

Low unemployment rates and an increase of 10 cents to the average wage is making the job market more competitive. But even in this environment, 61% of small business employees said they would give up benefits for a pay raise, this according to QuickBooks’ 2018 Small Business Pay & Benefits Report. In addressing pay and benefits, QuickBooks is pointing out an issue many small business employees are forced to compromise on. The choices are hard and they depend on several different factors including being single or married, children, age and more. For small business owners, payroll is one of the biggest challenges they face, especially in this economy. But businesses have to address the needs of their workforce by engaging with them to determine if they can meet their demands.