As of today, though, Nevada is reporting that at least one-in-five of the state's workforce have lost their jobs for COVID-19 related reasons. Yet, many small business owners are still struggling to find employees.
According to The Wall Street Journal, "For some workers, unemployment benefits are now paying more than their old jobs did. For others, safety concerns or a lack of child care, as most schools and day-care centers remain closed, are making them hesitant to go back."
“That’s going to get in the way of any real recovery,” Douglas Holtz-Eakin, president of American Action Forum and former director of the Congressional Budget Office, told WSJ.
The struggle to hire employees creates an additional threat for those Nevada small business owners who received loans under the SBA's Paycheck Protection Program.
To qualify for the loan forgiveness provision of the PPP, business owners must restore its workforce to pre-Coronavirus levels. This must be accomplished within eight weeks of receiving the monies.
Before the onset of Coronavirus, significantly more employed adults were reached by Las Vegas radio every week than all other media including local TV, newspapers, social media, and even online job sites.
Research from Nielsen indicates that amidst the current Covid-19 crisis listening to local radio remains little changed. This means that displaced workers are still tuning-in.
In March, for instance, local radio achieved 96% of the same audience as it did in February, before the onset of the crisis. This trend has continued through May as well. Consumers still report they are listening to the same amount or more radio than they did prior to the chaos.
Regardless of the category of worker local small business owners need for rebuilding or for loan forgiveness, advertising on Las Vegas radio reaches more than all other media. The chart below represents pre-COVID numbers, but as previously shown, local radio maintained its audience during the crisis.
In addition to its mammoth reach, employment advertising on Las Vegas radio has several other advantages for small business owners pressured to hire and replace workers. These include:
- Length of Message: Employers have the option of using 60-second commercials to explain, in detail, the procedures being implemented to ensure the health and safety of workers.
- Affordable Frequency: Consumers need to be exposed to messages several times before taking action. The cost of advertising on Las Vegas radio allows budget-minded business owners to achieve enough frequency to be effective.
- Fast Execution: Small business owners can create and implement an effective employment advertising campaign in just a few hours using local radio. Production of most radio campaigns can be done at no cost. This allows for an entire recruitment budget to be invested in reaching candidates and not commercial creation.
But perhaps, the greatest benefit advertising on Las Vegas radio provides to employers is the ability to reach passive job seekers.
According to the Society For Human Resource Management, passive job seekers are "individuals who are currently employed and not actively looking for a new job, but who may be open to a good career opportunity if one came along."
The SHRM website goes on to explain that "many employers target passive job seekers because they are looking for candidates who have positive employment records and who are satisfied with and successful in their work. Employers often target passive job seekers because of the lack of qualified job candidates to fill critical roles. Locating, wooing, and successfully luring passive job seekers are critical for organizations to remain competitive in a tight labor market.
Las Vegas radio reaches 92.8% of all passive job seekers every week. This is significantly more than are reached by online job sites, local TV, newspaper, and social media.
Small business owners need to act quickly to fill their open jobs. The ability to recover from the economic damage caused by COVID-19 depends on it.
More Advertising Advice For Las Vegas Small Business Owners
- Las Vegas Small Business Advice: Facebook Advertising During Pandemic
- Reclaim 'Top Of Mind' When Your Las Vegas Small Business Re-Opens
- Who Do Las Vegas Consumers Trust During A Crisis?
- Web Traffic Is Soaring For Las Vegas Small Business Owners
- Who Listens To Commercials On Las Vegas Radio?
- Advertising On Las Vegas Radio Remains Best Option During Corona Chaos
- Las Vegas Small Business Advice: Marketing During The Corona Crisis
- Crisis Marketing: What Las Vegas Small Business Owners Should Know
- Las Vegas Radio: Who's Listening During The Coronavirus Crisis