Mark Cuban says companies that kept employees during the pandemic are faring better now. We fact-checked him.
Summary List Placement Companies that kept workers employed through the pandemic may have an easier time retaining staff now, said Mark Cuban, the billionaire owner of the Dallas Mavericks basketball team. "Companies that kept on paying employees during the pandemic aren''t facing labor shortages," the Shark Tank judge tweeted on Monday . "Those who laid off people are struggling to fill positions and are losing business to those who kept workers on." As the US economy recovers from the effects of the pandemic, many companies have faced difficulty hiring . In fact, finding qualified employees was one of the top concerns among small businesses 34% of firms surveyed identified it as a problem according to a quarterly survey by payroll and HR services firm ADP. What''s more, 44% of small business owners said in April that they had jobs they couldn''t fill, which is the third consecutive month with a record-high reading, according to the National Federation of Independent Business . In an email to Insider, Cuban said his tweet was inspired by recent conversations he''s had with entertainment companies, which he declined to name. "Those who kept their staff are in a much better position today," he said. "They may still have trouble finding new workers, but it''s because of growth." Prioritizing people is good for employee retention Last year, Cuban announced the Mavericks would continue paying hourly workers at the arena, even as the basketball season was suspended because of the pandemic.
Mark Cuban says companies that kept employees during the pandemic are faring better now. We fact-checked him.
Summary List Placement Companies that kept workers employed through the pandemic may have an easier time retaining staff now, said Mark Cuban, the billionaire owner of the Dallas Mavericks basketball team. "Companies that kept on paying employees during the pandemic aren''t facing labor shortages," the Shark Tank judge tweeted on Monday . "Those who laid off people are struggling to fill positions and are losing business to those who kept workers on." As the US economy recovers from the effects of the pandemic, many companies have faced difficulty hiring . In fact, finding qualified employees was one of the top concerns among small businesses 34% of firms surveyed identified it as a problem according to a quarterly survey by payroll and HR services firm ADP. What''s more, 44% of small business owners said in April that they had jobs they couldn''t fill, which is the third consecutive month with a record-high reading, according to the National Federation of Independent Business . In an email to Insider, Cuban said his tweet was inspired by recent conversations he''s had with entertainment companies, which he declined to name. "Those who kept their staff are in a much better position today," he said. "They may still have trouble finding new workers, but it''s because of growth." Prioritizing people is good for employee retention Last year, Cuban announced the Mavericks would continue paying hourly workers at the arena, even as the basketball season was suspended because of the pandemic.