In the inaugural Idaho Employer Business Climate Survey for 2023 released by the Idaho Department of Labor, high turnover rates and concerns about the supply and cost of workers were highlighted as the top challenges for businesses in the state. This survey seeks to provide insights not captured by national studies, focusing on the state’s specific concerns, including remote work and leadership demographics.
Craig Shaul, a research analyst supervisor at the Department of Labor, highlighted the need for this data to get a clearer picture of the state’s economy. Some of the significant findings from the survey include:
- A positive outlook, with 56% of the businesses expecting an increase in workers over the next five years.
- Despite the impacts of the COVID-19 pandemic, 40% reported stable employment in the last three years.
- Key concerns listed were the supply or cost of workers (31%), high labor turnover (22%), economic uncertainty (16%), and issues with non-labor inputs and public policies.
- Job switching was identified by 44% of businesses as the leading cause of labor turnover.
In terms of leadership demographics, the majority of Idaho’s business leaders are white, non-Latino men, making up 59% of business owners. However, Latino representation in business leadership aligns with the state’s overall demographics, standing at 12%. Interestingly, businesses with Latino leadership appear younger, with 36% established since 2018.
On the work front, remote work hasn’t seen a significant uptake in Idaho. The data reveals that 9 out of 10 Idaho employees still work in person. Knowledge and data-centric sectors have a larger share of remote workers, while customer service and goods-producing industries see more in-person roles.
Read the full article on The Idaho Capital Sun