CPA Practice Advisor

MAY 2017

Today's Technology for Tomorrow's Firm.

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MAY 2017 ■ www.CPAPracticeAdvisor.com 29 THE SMALL BUSINESS CHANNEL LATEST SMALL BUSINESS NEWS Manufacturers Increase Use of Internet of Things. Half of plant production and equipment processes are already being managed via the IoT, and that number is set to climb. www.cpapracticeadvisor.com/12326247 Farmers Face Soaring Health Care Costs - Agricultural businesses say that as costs soar, health insurance has replaced markets and weather as many agriculturalists' biggest concern. www.cpapracticeadvisor.com/12321934 Down Payment is Greatest Barrier to Buy- ing a Home. Almost 70 percent of renters sur- veyed cite the down payment as a greater barrier to homeownership than debt, job security and qualifying for a mortgage. www.cpapracticeadvisor.com/12325358 U.S. Business Optimism at Record High. The study suggests that the new pro-business U.S. administration is acting as a catalyst, releas- ing pent-up confidence after a long period of sup- portive monetary policy and cheap oil. www.cpapracticeadvisor.com/12324386 Illinois Considers Proposal to Legalize Mar- ijuana. A panel discussed business and societal impacts, noting that there are about 3,000 licensed marijuana businesses in Colorado, about half medi- cal and half recreational. www.cpapracticeadvisor.com/12327328 How Much Does the Skills Gap Cost Businesses? By Isaac M. O'Bannon, Managing Editor It's one of today's most vexing economic puzzles: Why can't employers find workers to fill their positions when approximately 7.5 million Americans are unemployed, and millions more are working part-time because they can't find full-time positions or have given up looking for work altogether? According to a new CareerBuilder survey, nearly 60 percent of U.S. employers have job openings that stay vacant for 12 weeks or longer. The average cost HR managers say they incur for having extended job vacancies is more than $800,000 annually. CareerBuilder's latest studies on the effects of the skills gap on the U.S. labor market were conducted online by Harris Poll from November 16 to December 6, 2016 and February 16 to March 9, 2017. These studies included representative samples of 2,391 and 2,380 employers, respectively, and 3,411 and 3,215 workers, respectively, across all industries in the private sector. According to the survey, 68 percent of employers who said they were increasing their number of full-time, permanent employees in the first quarter (Jan.1-March 31, 2017) currently have open positions for which they cannot find qualified candidates. This is consistent across company sizes with larger companies – which tend to have more job openings in general: ■ 1-50 employees: 49 percent ■ 51-250 employees: 74 percent ■ 251-500 employees: 72 percent ■ 501+ employees: 71 percent "The gap between the number of jobs posted each month and the number of people hired is growing larger as employers struggle to find candidates to fill positions at all levels within their organizations," said Matt Fergu- son, CEO of CareerBuilder and co-author of The Talent Equation. "There's a significant supply and demand imbalance in the marketplace, and it's becoming nearly a million-dollar problem for companies." Read more at: www.cpapracticeadvisor.com/ 12330196 THIS MONTH'S TOP SMALL BUSINESS SOCIAL MEDIA POSTS ■ 3 Things You Mus t K now Before Starting a Business - Amy Vetter on LinkedIn: http://bit.ly/2pEvVdR ■ Never Burn a Bridge: A Client Came Back After 3 Years - Scott Cytron on LinkedIn: http://bit.ly/2qoZ1P5 ■ Registering a Trademark FAQs - Nellie Akalp on the Corpnet blog: http://bit.ly/2p1Z3YD ■ 4 St e p s t o H e lp M a n a ge Your Operating Cash Flow Statement - Dennis Najjar on the AccountingDepartment. com blog: http://bit.ly/2p4Lf0a ■ The Gig Economy and Its Impac t on Your Busines s - Barbara Weltman blog: http://bit.ly/2p51N8f "There's a significant supply and demand imbalance in the marketplace, and it's becoming nearly a million-dollar problem for companies."

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