Mid-Year Small Business Check-In

The KeyHire Small Business Podcast

At the midpoint of 2025, small business owners find themselves navigating an economic rollercoaster that has included surges, slumps, and everything in between. In this essential episode of The KeyHire Small Business Podcast, host Corey Harlock delivers a candid assessment of the current market conditions and reveals why the seemingly stable 4.5% unemployment rate is misleading small business owners about the real talent acquisition challenges ahead.

Corey identifies the core problem: while the economy appears neutral on the surface, small businesses are caught in a deceptive calm before the storm. Economists predict ongoing market "mushiness" through the summer, followed by either a strong rebound or further slowdown, depending on the outcome of trade agreements. This uncertainty makes it even more critical for business owners to act decisively on workforce decisions now. The central question becomes: how do you maintain your competitive edge in talent acquisition when scaling a small business during uncertain times?

This episode examines the dynamics shaping today's job market and discusses the limitations of conventional hiring strategies employed by small businesses. Corey cautions against relying on "rental player talent”, which is a workforce that may be temporarily accessible now but will leave for better opportunities when the market improves. Instead, use strategic workforce planning to help your business prepare for the impending market acceleration. Focus on building long-term talent acquisition strategies that make your business bulletproof against market volatility.

Key Takeaways:

-Invest in keeping your best people – If you are struggling a bit or facing a tight summer, consider reducing hours or implementing temporary pay cuts rather than layoffs. Replacing skilled workers will be exponentially more expensive when the economy rebounds.

-Build passive talent pipelines now - Establish relationships with trade schools and implement structured internship programs to create a steady flow of qualified candidates before competition intensifies.

-Invest in AI integration during slow periods - Use current downtime to automate processes and reduce future hiring needs, positioning your business ahead of the talent shortage curve.

-Avoid bargain hunting in hiring - Pay above-market rates for quality candidates now to build loyalty and prevent them from leaving when better offers emerge.

-Prepare for the "war for talent" resurgence - Understand that current market conditions are temporary, and businesses that don't prepare will face severe disadvantages in the future.

This episode of The KeyHire Small Business Podcast provides the strategic framework needed for how to scale a business effectively during economic uncertainty, offering practical solutions that transform challenges into competitive advantages.

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