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Suggest who benefitsThe Old Rules of Hiring Are No Longer Working
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Suggest questionFor years, business owners have been told to follow a familiar playbook when it comes to hiring: Take your time. Be selective. Hire slow, fire fast. But more and more owners are discovering that those rules don’t fit the reality they’re facing right now. This week, William Vanderbloemen says employers can no longer indulge the luxury of hiring slow. “The shortest sermon I’ve got,” says the former pastor, “is candidates are more fickle than ever, and owners need to realize that.” Paul Downs says he’s trying to figure out what’s gone wrong with his hiring process: Is it the way he uses Indeed? The way he approaches candidates? Or the differences between hiring white-collar and blue-collar employees? Jaci Russo believes companies should always be marketing their brand as an employer and always be on the lookout for good people—even when they’re not actively hiring. Plus, in a wide-ranging, end-of-year discussion recorded in December, the three owners talk about whether they hit their numbers in 2025, whether they use a formal budgeting process, what they expect in the year ahead, and how far out they can realistically see when they try to plan for the future.
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The proponents of employee stock ownership plans can make them sound like the greatest thing ever. A business owner can take a big chunk of money off the table—or even all of it—while still getting to run the business. And there are some pretty great tax breaks. Oh, and it will also solve income inequality in America. On the other hand, if ESOPs are so smart, why are there so few of them?
Jim Kalb of Triad Components Group in San Diego and Jeff Taylor of Crafts Technology in Chicago have both implemented ESOPs. Jay Goltz of the Goltz Group in Chicago has reached his 60s without a succession plan, and he’s considering his options. In this 21 Hats Conversation, you get to listen in on a street-smart discussion of the pluses and minuses of ESOPs from the business owner’s point of view.
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