Cleanfax Survey: What are the Top 5 Challenges for Businesses?
NORTHBROOK, Ill.—August 5, 2022— Every business leader is bound to face challenges from time to time. Whether it be financial, personal, or team-related, there are plenty of elements that a successful business must manage simultaneously leading to the occasional slip-up or stress point. Fortunately, by knowing what the most common challenges business leaders in your industry face, you can try to prepare for these inconveniences ahead of time to avoid them altogether. According to the results of the 2022 Restoration Benchmarking Survey Report, the biggest challenge businesses face is recruiting and retaining quality staff (90%) while maintaining margins and profitability (74%) is not that far behind. Meanwhile, over half of those surveyed also dealt with issues in differentiating their companies (62%) and cash flow challenges (54%).
Even the challenge in fifth place, increasing costs of doing business, still accounted for over half of those surveyed (52%). With this information in mind, restoration companies must be prepared to focus their efforts on recruitment procedures and profitability structures in order to counteract these problems once and for all. To help with this, be sure to check out our article, Insights Into Enhancing Employee Retention today!