How will Obamacare affect small businesses? As one of the million dollar questions of the next few years, the small business market will no doubt change rapidly as the Affordable Health Care Act takes effect.
Without taking too much of a political stance, it's important to look at the potential effects and what small businesses can do to prepare for a change as big as this.
A new Inc Magazine article, titled, Obamacare Having Little Impact on Small Business Hiring, says that small businesses are actually not as concerned as predictions have suggested. In fact, "among companies employing 20 to 99 workers, 34 percent say they already have or will add people this year; another 34 percent of those companies will stay at current levels."
Also, "the survey found that among businesses that have hired or are planning to hire this year, 82 percent are adding full-time employees." Which means one highly publicized fear of companies replacing full-time workers with part-time workers may actually not be realistic.
So the question many of you small business owners may be asking yourself is:
Should I hire full-time employees with Obamacare looming?
The answer is yes, but only if you are hiring the right people.
Now more than ever, it is important to screen, interview, verify, and hire the right person as the ACA approaches. As many of you know, companies over 50 employees will be required to provide health care for their company and this will cost thousands of dollars. Wouldn't you like to spend money on an employee who performs well, is a culture fit, and is engaged compared to a risky employee who is likely to turnover soon?
Choosing the right employee doesn't have to be a struggle. It's all about removing your "gut feeling" from the hiring decision and incorporating a scoring system into your process. That way you can quantifiable reason to hire an employee and know you made the right decision. For more information about scoring interviews, check out our interview scorecard guide.
Hiring for your small business? Check out our handy interactive reference guide about all things small business and hiring.